According to a new and yet unconfirmed report, India bought oil from Iran using gold. India certainly has the gold resources to fund the oil, while Iran is under pressure by the West, due the continuation of its nuclear program. There were reports that officials have been floating this idea for some time, and now,...

The post Gold for Oil: India and Iran Ditch Dollar – Report appeared first on Forex Crunch.

Gold retraced a little after posting gains at $1833. Fed’s dovish stance keeps the gold bulls alive. COVID concerns are keeping the safe-haven appeal of the gold intact. Gold price touched $ 1,833, after which it fell $10 even though the US Treasuries rose in value, which led to a decrease in the yields on...

The post Gold Price Analysis: Dovish Fed Helping Bulls Stay Above $1816 appeared first on Forex Crunch.

EUR and GBP are showing some weakness today against USD at the start of the EU session, but we see pairs in wave B as part of a correction. If we are correct then EURUSD is going to rally up to 1.1800 to complete a zigzag before turning down, while cable can be making a...

The post EUR/USD, GBP/USD showing weakness – Elliott Wave Analysis appeared first on Forex Crunch.

XAU/USD, aka the price of gold, is  eyeing the $1300 level and trading around $1292. The precious metal  is sought after as a safe-haven asset in times of trouble.  New reports  about Russia’s interference in the US elections, worries about global growth and other factors boost the Japanese yen and also gold. At current levels,...

The post Gold approaching 7-month highs – levels to watch appeared first on Forex Crunch.

The post Forex Links for the Weekend appeared first on Forex Crunch.

Recent events were bullish for gold and the Cyprus bailout fiasco should have been a catalyst for higher prices, but it wasn’t. So is this the end of the Bull Run for gold All the factors for higher gold prices should be there. Central banks remain committed to easy money and the Bank of Japan...

The post Gold bugs busted? appeared first on Forex Crunch.

The post Will Obama’s Stimulus Package weaken the Dollar? appeared first on Forex Crunch.

Silver, the precious metal that is overshadowed by gold, reached a record high. It closed at $29.39 per ounce, above the previous  intra-day peak of $29.34 reached the beginning of November. It then made only a swing high and fell back down under $28. Now we have a decisive close,  touching  $30. Silver isn’t used...

The post Silver at All-Time High – Almost $30 appeared first on Forex Crunch.

On the intraday chart of our precious metal, Gold looks to be in an impulsive wave to the upside from the lows, now already in blue wave V, which makes us think that the price can now make a corrective retracement. We see resistance for the final wave V around 1275 from where a sharp...

The post GOLD Searching For A Top; New Turning Point Can Be appeared first on Forex Crunch.

In this episode of Market Movers we have compiled a special holiday edition of the most popular topics: the risk reward ratio (make it your new year’s resolution?), the correlation (or lack of) between gold and inflation and Japan: the fall and the potential rise of the Land of the Rising Sun. Welcome to a...

The post Risk Reward Ratio, Gold & Inflation and Japan’s fall and appeared first on Forex Crunch.