The (ETHUSD) price rose in its last trading on the intraday levels, amid the continuation of negative dynamic pressure that is represented by its trading below EMA50, reinforcing the stability and the dominance of the main bearish trend on the short-term basis, especially with its trading alongside minor trendline, besides the emergence of the negative signals on the relative strength indicators, after the stability of the key support at $3,060, this support represents potential target in our previous reports, which helped it to achieve these cautious gains.
Gold price (XAU/USD) recovers some lost ground to near $4,105, snapping the two-day losing streak during the early European session on Friday. The precious metal edges higher on the softer US Dollar (USD). Traders will take more cues from the Fedspeak later on Monday. The Fed’s John Williams, Philip Jefferson, Neel Kashkari and Christopher Waller are set to speak.
Improved market sentiment after the federal government reopened undermined the safe-haven assets, such as the Gold price. The US government has reopened after US President Donald Trump signed a funding bill into law last week, ending the longest shutdown in US history, which lasted 43 days. Federal employees were directed to return to work on Thursday.
However, investors continue to grapple with uncertainty over the release of delayed economic data following the record-long shutdown. Analysts believe that the resumption of US economic data will show job market weakness and a potential slowdown. This, in turn, could weigh on the Greenback and lift the USD-denominated commodity price. Non-yielding yellow metal tends to perform well during periods of economic uncertainty and in a low-interest-rate environment.
The upside for the yellow metal might be limited due to hawkish remarks from US Federal Reserve (Fed) officials, dimming hopes for a December interest rate cut. Kansas City Fed President Jeffery Schmid said on Friday that monetary policy should “lean against demand growth,” adding that current Fed policy is “modestly restrictive,” which he believes is appropriate.
Financial markets are now pricing in a nearly 54% chance that the Fed will cut its benchmark overnight borrowing rate by 25 basis points (bps) at its December meeting, down from 62.9% probability that markets priced in earlier last week, according to the CME FedWatch Tool.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Coffee price formed the inverted head and shoulders pattern in its last trading, and 424.20 level forms the main neckline as appears in the above image, noticing the attempt to surpass the neckline at 437.40 in yesterday trading, to bounce quickly towards 410.00.
The price needs new positive momentum that allows it to settle above extra support towards 393.25, then wait for breaching 424.20 level, to confirm activating the bullish pattern, to target 457.50 and 486.00 level.
The expected trading range for today is between 400.50 and 457.50
Elior brings over seven years of experience in financial markets to our analyst team. Since 2018, he has actively engaged in observing, charting, and trading, driven by his passion for mastering market dynamics. With a profound understanding of the geopolitical and macroeconomic forces that shape market movements, Elior focuses on analysing the impact of breaking news, market sentiment, and critical economic data releases on trading flows.
As a versatile analyst, he contributes powerful insights to the team, effectively integrating geopolitical and technical analysis to provide clear and comprehensive market perspectives.
Prior to joining our team, Elior honed his expertise as a Fixed Income Trader and Market Analyst at the Montreal Exchange.
Elior brings over seven years of experience in financial markets to our analyst team. Since 2018, he has actively engaged in observing, charting, and trading, driven by his passion for mastering market dynamics. With a profound understanding of the geopolitical and macroeconomic forces that shape market movements, Elior focuses on analysing the impact of breaking news, market sentiment, and critical economic data releases on trading flows.
As a versatile analyst, he contributes powerful insights to the team, effectively integrating geopolitical and technical analysis to provide clear and comprehensive market perspectives.
Prior to joining our team, Elior honed his expertise as a Fixed Income Trader and Market Analyst at the Montreal Exchange.
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $59.42 per barrel, up from Thursday’s close at $58.56. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $62.69 price posted on Thursday, and trading at $63.52.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $59.78 per barrel, down from Monday’s close at $60.06. Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $63.69 after its previous daily close at $63.96.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $52.70 per troy ounce during the Asian hours on Friday. The attracts buyers
Safe-haven demand for precious metals, including Silver, is rising amid uncertainty over the US economic outlook, fueled by a backlog of official data after the government’s reopening. Early private-sector readings for October point to a cooling labor market, softer consumer confidence, and lingering inflation concerns.
National Economic Council Director Kevin Hassett cautioned that some October data may “never materialize,” as several agencies were unable to gather information during the shutdown. US President Donald Trump signed the government funding bill on Thursday to end the record 43-day government shutdown in US history.
The upside of the non-interest-bearing Silver could be limited as cautious remarks from Federal Reserve (Fed) officials decreased the odds of a Federal Reserve (Fed) rate cut in December. The higher interest rates push the yields higher on newly issued bonds to attract investors who are looking to earn better returns. The CME FedWatch Tool shows markets pricing in nearly a 50% chance of a 25-basis-point Fed rate cut in December, down from 69% a week ago.
Federal Reserve Bank of St. Louis President Alberto Musalem highlighted the need for caution on Thursday, noting there is limited room to ease without risking overly accommodative policy. Meanwhile, Minneapolis Fed President Neel Kashkari added that inflation remains too high at 3%.
Supply risks also supported Silver’s gains, amid concerns over possible US tariffs on the metal. Last week, the US Department of the Interior added Silver, Copper, and metallurgical Coal to its “critical minerals” list, underscoring their economic and national security importance. This classification opens the door for potential Section 232 investigations and trade measures, similar to those previously imposed on Copper.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Gold (XAU/USD) is heading lower on a choppy trading session on Friday, weighed by a firmer US Dollar amid the risk-averse sentiment. The Precious metal has broken below a previous resistance area, at $4,150 ahead of the US session opening, reaching intraday lows near $4,130 so far. Furthermore The Greenback is trimming some losses on Friday as market sentiment soured with European equity markets in the red, following the track of Wall Street and Asia. Furthermore, the hawkish comments from Fed officials have prompted investors to pare back hopes of Fed easing in December, which has provided some support to the US Dollar.
Technical Analysis: Bears eye the $4,100 support level
XAU/USD 4-Hour Chart
From a technical perspective, the lower high printed earlier on Thursday, coupled with the dip on the 4-hour Relative Strength Index (RSI), which is flirting with the 50 level at the time of writing, and the bearish cross on the Moving Average Convergence Divergence (MACD), is acting as a warning for buyers.
Below $4,150 (November 11 high, Thursday’s low), the next support level is at the $4,100 area, where the November 11,12 lows meet the trendline support from early November lows. Further down, a previous resistance area at $4,050 (October 31 highs) will come into focus.
Immediate resistance is at the daily high of $4,210, ahead of Thursday’s high, near $4,245. Bulls would need to break above these levels to resume the upside trend and shift their views towards the all-time highs around $4,380 (the highs of October 20 and 21).
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Copper price trading fluctuated in its last intraday trading, amid the dominance of bearish corrective wave on the short-term basis, affected by breaking minor bullish trendline, besides the continuation of the negative pressure due to its trading below EMA50, reducing the chance of the price recovery on the near-term basis, especially with the emergence of negative overlapping signals on the relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, indicating the beginning of forming negative divergence, intensifying the negative pressure.
Therefore, our expectations suggest a decline in copper price’s upcoming intraday trading, especially if it settles below $5.1375, targeting the key support at $5.0885 and there are strong chances of breaking it.
The expected trading range for today is between $5.0885 and$5.1590
Copper price trading fluctuated in its last intraday trading, amid the dominance of bearish corrective wave on the short-term basis, affected by breaking minor bullish trendline, besides the continuation of the negative pressure due to its trading below EMA50, reducing the chance of the price recovery on the near-term basis, especially with the emergence of negative overlapping signals on the relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, indicating the beginning of forming negative divergence, intensifying the negative pressure.
Therefore, our expectations suggest a decline in copper price’s upcoming intraday trading, especially if it settles below $5.1375, targeting the key support at $5.0885 and there are strong chances of breaking it.
The expected trading range for today is between $5.0885 and$5.1590
