Crude Oil, Gold Prices Rally to Resistance With Brexit Deal Around Corner
2020-12-24 06:00:00
Daniel Dubrovsky,
Strategist
Crude Oil, Gold, XAU/USD, Brexit, US Stimulus, Technical Analysis - Talking Points:
Brexit deal bets, US economic data kept market sentiment relatively upbeat
Quiet trading conditions ahead: eyes on Johnson, Trump, new virus strain
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Crude oil prices rallied over the past 24 hours, pausing two consecutive days of relatively aggressive losses. The growth-linked commodity followed a cautious recovery in market sentiment, mimicking gains in S&P 500 futures throughout the session. Meanwhile, anti-fiat gold prices also rallied, capitalizing on broad weakness in the US Dollar as it particularly lost ground to the British Pound.
Gold, Crude Oil Price Gains at Risk on US Shutdown and SMIC Blacklisting 2020-12-18 07:30:00 Daniel Dubrovsky, Strategist
Gold, Crude Oil, US Government Shutdown Risk, SMIC Blacklisting, Technical Analysis - Talking Points:
US government risks shutdown, dozens of Chinese firms may be blacklisted
XAU/USD may extend gains after clearing key SMA, WTI eyeing resistance Advertisement
Anti-fiat gold prices closed at the highest in a month on Thursday as a decline in the US Dollar continued to bolster precious metal and commodity prices. Most of this performance occurred during Asia Pacific and European trading hours. Then, momentum in XAU/USD as well as in growth-linked crude oil prices faded during the North American session.
Crude Oil Nears Resistance, Gold Up on Fed. BoE, Moderna Vaccine Approval Next 2020-12-17 07:00:00 Daniel Dubrovsky, Strategist
Crude Oil, Gold, Fed, BoE, Jobless Claims, Moderna Vaccine, Technical Analysis - Talking Points:
Crude oil up as US inventories shrink more sharply than expected
Gold rose on Fed, eyeing BoE, jobless claims, Moderna vaccine
WTI eyeing February inflection point, XAU/USD to 50-day SMA Advertisement
Crude oil prices aimed higher on Wednesday, propelled by the latest EIA inventory report. Last week, stockpiles contracted by 3.1 million barrels, far larger than the -1.1m projection. This helped offset losses from softer-than-expected US retail sales earlier in the session, hinting at trouble brewing in the largest component of GDP from the world’s largest economy - consumption.
Gold Prices Struggle Despite Dollar Declines, Crude Oil Turns to US Sentiment 2020-12-11 06:00:00 Daniel Dubrovsky, Strategist
Gold, XAU/USD, Crude Oil, Covid Vaccine, US Sentiment Data, Technical Analysis - Talking Points:
Gold was unable to capitalize on weaker USD, Treasury yields
XAU/USD may be at a turning point, WTI momentum is fading Advertisement
Anti-fiat gold prices traded relatively flat on Thursday despite what typically tends to be a bullish scenario for the yellow metal, signaling underlying weakness. Both the US Dollar and Treasury yields were down for the day, with declines in the former usually beneficial to commodity prices. Growth-linked copper closed at the highest since February 2013 as demand from China boosted iron ore futures.