Jump to content

Gold (XAU/USD) Slips Lower, Rattled by Soaring US Treasury Yields


MongiIG

Recommended Posts

Posted

Gold Price (XAU/USD), Chart, and Analysis

  • UST 2-year yield back above 1%, UST 10-year eyes 1.9%.
  • Gold looks set to move lower.
  • IG client sentiment remains mixed.
Gold (XAU/USD) Slips Lower, Rattled by Soaring US Treasury Yields

US Treasury yields jumped overnight with the interest-rate sensitive 2-year printing a fresh 23-month high of 1.05%, while the benchmark 10-yearhit 1.83%, a level last seen in January 2020. Market expectations that the Federal Reserve will hike rates four times this year, by 25bps each time, and that the central bank will start to pare back the country’s bloated balance sheet sometime later this year, are driving bond yields ever higher ahead of next week’s central bank policy meeting.

For all market-moving data releases and events, check out the DailyFX Calendar

US TREASURY YIELDS VIA INVESTING.COM

Gold (XAU/USD) Slips Lower, Rattled by Soaring US Treasury Yields

The outlook for gold remains mixed to negative with the precious metal expected to remain within a $1,763/oz. to $1,837/oz. Fibonacci range. This multi-week range will likely tighten over the short-term with the Average True Range indicator (ATR) stuck at a near two-year low, highlighting the lack of volatility in the market. The current moving average set-up is also mixed although a bearish ‘death cross’ did form a couple of days ago, adding a layer of bearish sentiment. On the downside, $1,800/oz. guards the January 7 multi-week low at $1,783/oz. ahead of the 50% Fibonacci retracement at $1,763/oz.

GOLD (XAU/USD) DAILY PRICE JANUARY 18, 2022

Gold (XAU/USD) Slips Lower, Rattled by Soaring US Treasury Yields

Retail trader data show

69.26% of traders are net-long with the ratio of traders long to short at 2.25 to 1. The number of traders net-long is 2.79% higher than yesterday and 9.27% lower from last week, while the number of traders net-short is 2.06% higher than yesterday and 1.93% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Gold trading bias.

What is your view on Gold – bullish or bearish?

 

 

Jan 18, 2022 |  Nick Cawley, Strategist. DailyFX

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Airdrops are a popular method in the crypto space to reward loyal users and encourage new adopters. Tomarket is no exception, aiming to reward its most active players by distributing 80% of its TOMA token supply through a series of Tomarket airdrop stages. This initiative recognizes the contributions of users who have supported Tomarket’s growth on the TON blockchain. (To participate click here) The Four Phases of the Airdrop Tomarket airdrop is being carried out in four distinct stages, each designed to reward different segments of the community. Stage 1: Completed on October 31, 30% of the TOMA tokens were released to early participants. Stage 2: A further 30% of the TOMA supply will be revealed before the official token listing on December 20. Stage 3: An additional 17% of the TOMA tokens will be distributed during this phase, though the exact timing is still to be determined. Stage 4: The final 3% will be allocated to early adopters, with specific timing for this stage yet to be announced. How to Qualify for the Tomarket Airdrop Participating in the Tomarket airdrop is simple, but there are a few tasks you need to complete to be eligible: Add the Tomato Emoji: Add a tomato emoji to your Telegram display name to show you're part of the Tomarket community. Reach Bronze Level: Achieve at least Level 4 (Bronze) in the Tomarket game to prove your activity on the platform. Connect a TON Wallet: Link your Tomarket account to a TON wallet to receive the tokens. Join the Telegram Channel: Make sure you’re a member of the Tomarket announcement channel on Telegram to stay updated on all airdrop details. Optional Premium Medal: You can purchase a premium medal for $5, which unlocks additional rewards and gives you access to 100% of your tokens during the Tomarket airdrop. How to Claim Tomarket Airdrop Tokens Once the Tomarket airdrop is live, you’ll be able to claim your Tomarket airdrop tokens directly within the Tomarket app. From there, you can withdraw the tokens to your external wallet for easy access. This streamlined process ensures that getting your rewards is quick and hassle-free. Exclusive Features and the Farming Pool Beyond the Tomarket airdrop, the project is introducing a Farming Pool for TOMA token holders. This feature will allow users to earn more tokens by referring others and participating in various exclusive projects. For players who purchase the premium medal, additional benefits will unlock, enhancing the overall gaming experience. These benefits could include more opportunities to earn tokens, access to special promotions, and other unique features that will be revealed in the future. Explore upcoming crypto airdrops: https://markets.coinpedia.org/airdrops/
    • We've seen Web3 revolutionize finance, art, and ownership, but the full potential hasn't been tapped especially when it comes to AI. What if AI models and apps didn't belong to massive corporations but to the people building them? What if creators could actually connect, share, and monetize their AI innovations without gatekeepers? That's what KIP Protocol is setting out to do, and it's an idea that feels long overdue. KIP's structure is clever without being overly complicated. The Application Layer lets you turn your AI app into an ERC-3525 SFT, linking it directly to models and knowledge assets while tracking every interaction on the $KIP ledger. The Settlement Layer makes value transfer seamless, and the Ownership Layer ensures your data and knowledge are securely stored but still accessible for retrieval-augmented AI. It's decentralized, secure, and most importantly it’s built for creators, not just institutions. This is more than a protocol; it's a chance to redefine how AI works in the Web3 space. But then there is $KIP Listing Carnival on BingX where we get to share the 3,000,000 rewards up for grabs within six days. If you're into AI or Web3, this might just be your next move. 
    • Here's a price analysis for Magic Eden (ME) based the current hype around the token especially with Bitget and Binance Listing today   Current Price and Market Dynamics: Current Price: The $ME token is currently trading at around $9.02, with a recent increase of about +5.37% over the past 24 hours. This data reflects the price as of the latest update. Market Sentiment: There's a mix of optimism and caution around $ME. Some posts on X suggest that the token might be overvalued at its current price, with one user stating, "Magic Eden is heavily overvalued at $9 btw. Fair price is $0." However, there's also anticipation around events like the $ME airdrop, which seems to be fueling some positive market sentiment.   Short-Term Predictions: Airdrop Influence: The upcoming $ME airdrop has been a significant point of discussion. With the airdrop now live, there's an expectation of high selling pressure initially, which could lead to a price dip. However, following this, some analysts are optimistic about the price recovering and potentially surpassing $6-$7 within days after the initial sell-off.   Price Targets: Users on X have set various price targets post-airdrop, with one suggesting an initial profit-taking around the $125-$140 area for those who received the airdrop. Another prediction sees the price potentially reaching $10 within a couple of days of trading, with optimistic scenarios pushing to $15.    Long-Term Outlook: Market Cap and Liquidity: Given Magic Eden's position as a leading NFT marketplace and the introduction of its token across multiple exchanges, there's potential for increased liquidity and market cap growth. The token's integration into services like staking, rewards, and governance could further drive its value if adoption within the Magic Eden ecosystem grows. Fundamental Analysis: Magic Eden's expansion to multiple blockchains, user-friendly enhancements, and its robust community support are positive signs for long-term growth. However, the volatile nature of crypto markets, especially around significant events like airdrops, means investors should be prepared for both rapid gains and potential corrections. Risks and Challenges: The high initial selling pressure post-airdrop and the general market sentiment towards new tokens can be significant hurdles. Additionally, competition in the NFT marketplace sector and broader market conditions (like regulatory changes or shifts in crypto popularity) could affect $ME's price trajectory.   Conclusion: The $ME token shows signs of both immediate volatility due to the airdrop event and potential for growth based on Magic Eden's market position and expansion plans. Event like Poolx, and Candybomb campaigns on Bitget and various exchanges could have both positive and negative impact on the price but they offer a good opportunity for users to earn airdrops of the token. 
×
×
  • Create New...
us