|Day's range||1,806.70 - 1,808.20|
S&P; 500 initially fell during the Globex session, but we have found buyers underneath. This is a continual pattern with this market, buyers looking for value.
Silver markets fell on Tuesday but then turned around at the $18.25 level. Because of this and gold trying to break out, silver looks very bullish.
Gold rallied a bit on Tuesday, breaking to a new high. We did not blast through the level so we will probably get an opportunity to buy another pullback.
Gold clocked a gain of 13% in the second quarter of 2020, which is likely to get reflected in gold miners' upcoming second-quarter earnings releases.
The Australian dollar went back and forth on Tuesday, reaching towards the crucial 0.70 level. That is an area that against massive resistance.
Silver continues its attempts to get above the nearest resistance level at $18.50.
The Commitments of Traders report covering positions held and changes made by money managers in the week to June 30. A week that despite mixed price performances saw funds buying 18 out of the 24 major commodity futures tracked in this. The top five included corn, natural gas, soybeans, Brent crude oil and copper.
The Fed could strengthen its forward guidance later this year. Given its dovish bias and the fresh viral outbreaks, it could be positive for gold prices.
The direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the short-term pivot at 1.1295.
Data from the American Petroleum Institute industry group at 20:30 GMT on Tuesday is expected to show a 100,000 barrel rise in gasoline stockpiles.
G10 currencies may bully the Japanese Yen this week as growing optimism over a swift economic recovery from the pandemic boost appetite for riskier assets at the expense of safe-havens.
Over the short-run, it may be a good idea to keep your powder dry. After all, the long-term trend is still bullish and isn’t even being threatened.
Stock markets are set to finish firmly higher today as the bullish sentiment from China spilled over to the west.
The Aussie Dollar has yet to take a hit, in spite of the latest COVID-19 spikes. Failure to contain the spread, however, will test the Aussie’s resilience.
European stock markets are set to open lower Tuesday, consolidating after Monday’s sharp gains, as investors try to balance signs of a global economic recovery with concerns over the increasing number of new coronavirus cases in the U.S. At 2:05 AM ET (0605 GMT), the DAX futures contract in Germany traded 0.7% lower. CAC 40 futures in France were down 0.7%, while the FTSE 100 futures contract in the U.K.fell 0.7%.
Jewellery is the largest stable component of demand. Demand for gold as an investment had outstripped purchasing for jewellery manufacture just three times in the past decade. The push has been driven by anxious investors snapping up gold bars, coins and exchange traded funds.
Equities continue to beat bitcoin’s performance, but everything is making gains Monday.
The U.S. Dollar is going to keep going down as long as the economic data keeps improving.
Strong gains in Chinese equities spilled over into US stocks which paved the way for higher gold prices. Stronger than expected US ISM services numbers helped add to riskier assets, which have been highly correlated gold, helping to buoy the yellow metal.
US stock markets rallied significantly on Monday, perhaps following the Chinese lead overnight or perhaps moving based upon the ISM Nonmanufacturing numbers.
The silver markets rallied a bit on Monday to kick off the week, reaching towards the $19 level. We still have the same resistance to deal with.