Market Analysis: Gold bulls on fire, new yearly highs and a target placed at 1,360 USD

  • master
  • 21.02.2019
  • Comments Off on Market Analysis: Gold bulls on fire, new yearly highs and a target placed at 1,360 USD
<p><a href=””><img style=”width:auto;” class=”img-responsive” src=”” style=”” rel=”” alt=”Euro and USD economic events calendar”></a></p><p><em>Source: Economic Events February 20, 2019 – </em><a href=””><em>Admiral Markets’ Forex Calendar</em></a></p><p>As pointed out in our <a href=””>weekly market report on Monday</a>, Gold remains bullish, and after the break to new yearly highs on Monday in a relatively thin market environment due to US bank holiday President’s Day, last week’s momentum was taken on by the bulls on Tuesday. </p><p>Even though the fundamental docket is quite thin this Wednesday, the Fed minutes in the evening could deliver another bullish push higher. This is particularly true if market participants find the Fed’s stance to be more dovish than the already dovish Fed statement from January 30. </p><p>On January 30, the Fed delivered not only a ‘wait-and-see’ approach in regards to further rate hikes, but also declared that it would be prepared to adjust the balance sheet runoff ‘in light economic and financial developments’.</p><p>Even though it seems difficult at first glance to expect increasingly dovish rhetoric, but any hint that could be interpreted as a “the next step in regards to rates is more likely to be a cut than a hike” has the potential to accelerate movement in Gold. </p><p>The target on the upside is around the 2017/2018 yearly highs of 1,360 USD/ounce, while the bulls have the advantage on their side on a daily time frame above 1,300 USD/ounce. Any pullback against 1,323/325 can be considered attractive for long-engagements from a risk-reward perspective. </p><p><a href=””><img style=”width:auto;” class=”img-responsive” src=”” style=”” rel=”” alt=”Gold index daily chart and projection”></a></p><p><em>Source: Admiral Markets </em><a href=”″><em>MT5</em></a><em> with </em><a href=””><em>MT5-SE Add-on</em></a><em> Gold daily chart (between November 17, 2017, to February 19, 2019). Accessed: February 19, 2019 at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.</em></p><p>In 2014, the value of Gold fell by 1.7%, in 2015, it fell by 10.4%, in 2016, it increased by 8.1%, in 2017, it increased by 13.1%, in 2018, it fell by 1.6%, meaning that after five years, it was up by 6.4%.</p><p><a href=”″><a href=””><img style=”width:auto;” class=”img-responsive” src=”” style=”” rel=”” alt=”Download MetaTrader 5 and begin trading today!”></a></a></p><p><em>Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:</em></p><ol><li>This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.</li><li>Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.</li><li>Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations. </li><li>To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.</li><li>Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.</li><li>The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.</li><li>Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.</li><li>The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.</li></ol><em>Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the </em><a href=””><em>risks</em></a><em>.</em>