Gold's Direction Depends On Trade Headlines - MKS PAMP GROUP
The near-term outlook remains supportive for gold with the yellow metal getting its price direction from trade headlines, says MKS PAMP GROUP. “Trade headlines currently remain the main directional driver to price action for gold, however global growth concerns coupled with geopolitical tensions, namely in Hong Kong, should provide support over the near-term.” The first major support is at $1,500-$1,495 and ounce and then at $1,475 - $1,480. On the upside, resistance is at $1,525 - $1,535, MKS states. "The focus this week is undoubtedly on the FOMC minutes release on Wednesday and Fed chairman Powell’s speech at Jackson Hole on Friday.”
By Anna Golubova of Kitco News; email@example.com
Gold's 'To Fire Upside Signals On All Cylinders, Platinum To Sell Off' - TD Securities
Monday August 19, 2019 09:00
Despite some pressure on gold in light of recovering risk-on assets, the yellow metal is expected to remain bullish, according to TD Securities. “Considering the lopsided positioning in gold, some consolidation in prices could prompt money managers to rush to the exits, but momentum indicators will likely continue to fire upside signals on all cylinders, which aligns with our view for further upside in the medium-term,” TD Securities strategists write. However, platinum could see some risk of selloff in the near-term. “We expect that platinum could see substantial selling pressure as CTAs liquidate their length and target a net short position with momentum signals pointing to further downside on the horizon,” the strategists add.