Gold (XAUUSD) Looking to Do Larger Degree Correction

Gold price edges higher in early trading on Monday after last week’s 5% pullback from new record high found solid ground at $2327/25, provided by the top of thick rising daily Ichimoku cloud. Partial profit taking lifted the price, although recovery was mild so far and facing headwinds from initial barrier provided by 20DMA ($2348). […]

Market picture Negative momentum in equities after the US inflation report triggered a quick correction but only attracted new buyers who saw it as an opportunity to buy cheaper. In 24 hours, the crypto market added another 1.5% to reach $1.91 trillion. Now, buying is concentrated in a narrow range of the largest coins. We […]

Nasdaq 100 has exhibited short-term intraday wild gyrations of 3% to 4% in opposite directions since last week. Today’s data focus will be on US non-farm payrolls and ISM Services PMI for April to offer clues on whether the stagflation risk narrative is still alive. Macro factors such as the movement of the US 10-year […]