#gold
Gold Prices Edge Higher!
Gold prices moved higher to above $1,930 an ounce on Thursday, close to strong levels not seen in six weeks, as the risk-off mood continues and investors remain concerned about the recent banking turmoil and try to assess the monetary policy outlook.
In the US, Silicon Valley Bank and Signature Bank collapsed and shares of First Republic Bank remain under heavy pressure.
At the same time, Credit Suisse said it would borrow up to $54 billion from the country's central bank under a covered loan facility and a short-term liquidity facility.
Meanwhile, the ECB lifted interest rates by 50bps as initially pledged, pushing borrowing costs to fresh 2008 highs, aiming to fight high inflation, while noticing that the Euro Area banking sector is resilient and standing ready to provide liquidity support to the financial system if necessary.
The Fed is set to decide on monetary policy next week.
Gold Prices Edge Higher!
Gold prices moved higher to above $1,930 an ounce on Thursday, close to strong levels not seen in six weeks, as the risk-off mood continues and investors remain concerned about the recent banking turmoil and try to assess the monetary policy outlook.
In the US, Silicon Valley Bank and Signature Bank collapsed and shares of First Republic Bank remain under heavy pressure.
At the same time, Credit Suisse said it would borrow up to $54 billion from the country's central bank under a covered loan facility and a short-term liquidity facility.
Meanwhile, the ECB lifted interest rates by 50bps as initially pledged, pushing borrowing costs to fresh 2008 highs, aiming to fight high inflation, while noticing that the Euro Area banking sector is resilient and standing ready to provide liquidity support to the financial system if necessary.
The Fed is set to decide on monetary policy next week.
Mr. Shivanshu Mehta, SVP & Head- Bullion, MCX addressing the audience and honouring researchers for the Best Research Papers on Gold markets at the 7th IGPC Gold & Gold Markets Conference, New Delhi, Feb 15-16, 2024
#researchpapers #gold #market #igpc #conference #goldmarkets
#researchpapers #gold #market #igpc #conference #goldmarkets
#gold 66089 going strength to strength from last few trading sessions
What you need to know about gold…
In late 2022, gold prices had plunged 20%-plus into bear market territory. Mainstream experts cited one cause for the falling metal: the “Fed Effect” of raising rates. Elliott wave analysis, however, foresaw a bullish future for gold. And that’s exactly what happened. #Elliottwave #technicalanalysis #fed #fedreserve #gold #goldprices #goldtrading #goldtrader #tradingstrategy #tradingtips #goldinvesting #goldinvestment #goldstandard
In late 2022, gold prices had plunged 20%-plus into bear market territory. Mainstream experts cited one cause for the falling metal: the “Fed Effect” of raising rates. Elliott wave analysis, however, foresaw a bullish future for gold. And that’s exactly what happened. #Elliottwave #technicalanalysis #fed #fedreserve #gold #goldprices #goldtrading #goldtrader #tradingstrategy #tradingtips #goldinvesting #goldinvestment #goldstandard
Have you seen any such pattern? #gold pre and post covid. I name this as bow and arrow pattern, if you see the difference between high and low in both halves its exactly same. its like they are mirror image about an arrow.