EBC Markets Briefing | Bullion risks pullback on a small rate hike

Gold stayed close to last week's record high, up 25% this year and breaking multiple records as a top-performing commodity.

Gold traded near the record high it hit last week. The precious metal has been one of the strongest performing major commodities this year, surging by about a quarter and hitting successive records.

Goldman Sachs reiterated its optimistic outlook on gold prices on Monday, citing central bank demand and the imminent interest rate cut from the Fed at its policy meeting this week.

Gold may face a minor, near-term setback in the case of a 25-bp cut this week, but the metal will subsequently rally to a record aided by rising flows into bullion-backed exchange-traded funds, according to the bank.

Global holdings in bullion-backed ETFs have rebounded in recent months after sinking in mid-May to the lowest since 2019, according to a Bloomberg tally. But they remain about 25% below the peak set in 2020.

China's central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed. The central bank was the world's largest single buyer of gold in 2023.

Analysts expect to resume purchases at some point despite high prices due to political, rather than economical motivations, such as its desire to be less dependent on the greenback as a reserve asset.

Bullion lost momentum at $2,590 so buyer will hardly gain acceptance above the level in the short term. That being said, its bullish bias was evident with the price well below 50 EMA.

EBC Institute Perspectives Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC International Business Expansion or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Düzenleme: FCA (UK), ASIC (Australia), CIMA (Cayman Islands)
read more
Will the S&P 500’s record run power on to 6,500?

Will the S&P 500’s record run power on to 6,500?

The S&P 500 is on a roll - again. It recently burst through the 6,350 level, brushing it aside like a mere formality. For market watchers, it’s another high-water mark in a year defined by relentless momentum, tech-fuelled optimism, and the ever-present fear of missing out (FOMO).
Deriv | 8s 9 dakika önce
EUR/USD Under Pressure Despite Weaker US Dollar

EUR/USD Under Pressure Despite Weaker US Dollar

The EUR/USD pair dipped to 1.1738 on Friday as the US dollar staged a modest recovery, though it remains on track for a weekly decline. Investors continue to weigh developments in trade negotiations while awaiting next week’s Federal Reserve meeting.
RoboForex | 12s 14 dakika önce
Dollar on the defensive, seeks support 

Dollar on the defensive, seeks support 

ECB pauses, raises the bar for September rate cut; Trump’s Fed visit proves uneventful, despite rate cut demand; Dollar losses mount this week, even the yen outperforms the greenback; Cryptos are on the back foot today; altcoins maintain sizeable gains;
XM Group | 12s 38 dakika önce
USD Gains Ground as Gold Slips, AUD Drops | 25th July 2025

USD Gains Ground as Gold Slips, AUD Drops | 25th July 2025

The US Dollar climbed on Friday, pressuring gold lower and dragging AUD down, while NZD held above 0.6000 amid trade optimism. EUR/JPY extended gains after soft Tokyo CPI data. Markets now eye US data and central bank cues for direction, with volatility likely to persist into the weekend.
Moneta Markets | 14s 13 dakika önce
ATFX ​Market Outlook 25th July 2025

ATFX ​Market Outlook 25th July 2025

US initial jobless claims dropped to a three-month low last week, while June’s new home sales showed a slight rise. The S&P 500 and Nasdaq closed at record highs on Thursday, boosted by strong earnings from Google’s parent, Alphabet, which sparked optimism in other major AI-related stocks. Conversely, Tesla shares fell after the company reported disappointing earnings.
ATFX | 17s 29 dakika önce