Piyush Lalsingh Ratnu
- Trader & Analyst em Piyush Ratnu Gold Market Research
- EAU
- 306
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Piyush Ratnu is an independent forex market analyst & trader with core expertise in XAUUSD/Spot Gold.
With more than 15 years of experience as a Financial Market Analyst, Piyush Ratnu held the responsibility of developing and refining a series of algorithms & analytic tools to simplify the trading processes. His tools and algorithms were defined and rated as “unlike tools seen in the market before, extensively designed and most importantly, functional and logical” by some of the top financial companies and analysts at New York, London and Dubai.
Piyush Ratnu holds an experience of 290,000 trades, 1,790,000 pips calculated with a remarkable trading execution rate of 2 trades per second in an ideal scenario with profit booking in less than 8 seconds tracing 60+ pips/trade, as per audited and verified track record of last 10 years.
We do not promote/recommend ANY BROKER in any direct or indirect manner.
Core strength:
Economics, Economic Data Analysis, Spot Gold (XAUUSD), USD Majors, SR MTF Range Trading, Chart Patterns,
Volume Trading, Day Trading & Position Trading
Trading style
Fundamental based Intra-day trading.
Analysis based on proprietary algorithm 130+ parameters.
Core focus: XAUUSD | Spot Gold
Motto
Plan your trade, and then trade your plan!
Ai Verified Track Record since 2021:
https://www.piyushratnu.com/most-accurate-xauusd-spot-gold-price-projection-and-ai-verified-research-generated-by-piyush-ratnu-gold-market-research/
XAUUSD Daily Price Projection:
https://www.piyushratnu.com/xauusd-spot-gold-daily-analysis/
MyFxBook:
X.com: https://x.com/piyushratnu
Insta: https://www.instagram.com/piyushratnuofficial
Connect for more details:
Telegram: https://www.T.me/PiyushRatnuOfficial
Risk Disclaimer:
Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Trading foreign exchange, indices and commodities, on margin, carries a high level of risk and may not be suitable for all individuals.
The information made available by Piyush Ratnu is for your general information only and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making, or refraining from making, any investment decisions.
Piyush Ratnu does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position(s) of Piyush Ratnu.
With more than 15 years of experience as a Financial Market Analyst, Piyush Ratnu held the responsibility of developing and refining a series of algorithms & analytic tools to simplify the trading processes. His tools and algorithms were defined and rated as “unlike tools seen in the market before, extensively designed and most importantly, functional and logical” by some of the top financial companies and analysts at New York, London and Dubai.
Piyush Ratnu holds an experience of 290,000 trades, 1,790,000 pips calculated with a remarkable trading execution rate of 2 trades per second in an ideal scenario with profit booking in less than 8 seconds tracing 60+ pips/trade, as per audited and verified track record of last 10 years.
We do not promote/recommend ANY BROKER in any direct or indirect manner.
Core strength:
Economics, Economic Data Analysis, Spot Gold (XAUUSD), USD Majors, SR MTF Range Trading, Chart Patterns,
Volume Trading, Day Trading & Position Trading
Trading style
Fundamental based Intra-day trading.
Analysis based on proprietary algorithm 130+ parameters.
Core focus: XAUUSD | Spot Gold
Motto
Plan your trade, and then trade your plan!
Ai Verified Track Record since 2021:
https://www.piyushratnu.com/most-accurate-xauusd-spot-gold-price-projection-and-ai-verified-research-generated-by-piyush-ratnu-gold-market-research/
XAUUSD Daily Price Projection:
https://www.piyushratnu.com/xauusd-spot-gold-daily-analysis/
MyFxBook:
X.com: https://x.com/piyushratnu
Insta: https://www.instagram.com/piyushratnuofficial
Connect for more details:
Telegram: https://www.T.me/PiyushRatnuOfficial
Risk Disclaimer:
Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Trading foreign exchange, indices and commodities, on margin, carries a high level of risk and may not be suitable for all individuals.
The information made available by Piyush Ratnu is for your general information only and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making, or refraining from making, any investment decisions.
Piyush Ratnu does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position(s) of Piyush Ratnu.
Piyush Lalsingh Ratnu
Gold (XAU/USD) suffered heavy losses at the beginning of the week as a combination of factors triggered a broad market selloff. The metal, however, recovered sharply in the second half of the week and stabilized comfortably above $2,400. Market participants await July inflation data from the US for the next directional clue.
Gold price is trading on the back foot near $2,430 early Monday, consolidating the previous week’s late recovery. Traders appear non-committal and refrain from placing fresh bets on Gold price, bracing for an action-packed week, with US Consumer Price Index (CPI) inflation data in the spotlight.
Gold price braces for Iran-Israel escalation and key US data
Traders take account of the latest developments surrounding the Middle-East geopolitical tensions, with Israel preparing for an imminent attack by Iran, in retaliation for the assassination of Hamas leader Ismail Haniyeh in Tehran in late July.
On Sunday, Axios reported that the Israeli intelligence community is put on a high alert, as it is believed that Iran has decided to attack Israel directly and may do so within days.
Meanwhile, ABC News reported early Monday that the Israel Defense Forces (IDF) intercepted roughly 30 "projectiles" that were identified as crossing from Lebanon into northern Israel. This comes even as Hamas proposed a cease-fire implementation plan after a diplomatic push from the United States, Egypt and Qatar for a new round of talks to take place between Israel and Hamas on Aug. 15 in either Doha or Cairo.
If the Iran-backed militant groups, Hezbollah and Hamas, turn down any cease-fire attempts and attack Israel, the escalation could very well translate into a wider regional conflict. Mounting geopolitical tensions are likely to keep the safe-haven US Dollar (USD) buoyed, weighing negatively on the USD-denominated Gold price. Gold failed to benefit from escalating geopolitical tensions at the beginning of the week and declined sharply. The unwinding of Japanese Yen (JPY) carry trade, growing fears over a recession in the US and heightened concerns about a deepening conflict in the Middle East triggered a global market selloff on Monday, causing a variety of financial assets, except for the JPY, to suffer heavy losses.
Markets remain in a wait-and-see mode before taking any calls on the next Gold price direction, as position readjustments could be seen heading into Wednesday’s US CPI showdown. The headline annual CPI is set to rise 2.9% in July after increasing by 3.0% in June. Meanwhile, the core inflation is expected to edge a tad lower to 3.2% YoY in July versus June’s 3.3% print.
Gold investors might implement large positions based on US inflation data
Next week’s economic calendar will feature July inflation data from the US. The Consumer Price Index (CPI) is forecast to rise 0.2% on a monthly basis and the core CPI, which excludes volatile food and energy prices, is also seen increasing 0.2% in the same period. On a yearly basis, the headline CPI inflation is forecast to edge lower to 2.9% from 3% in June.
The CME FedWatch Tool shows that markets are pricing in a more-than-50% probability of a 50 basis points (bps) Federal Reserve (Fed) rate cut in September. In case the monthly core CPI rises more than forecast, investors could reassess the probability of a 50 bps cut in September and help the USD gather strength with the immediate reaction. On the flip side, a reading at or below the market expectation in this data could weigh on the USD, opening the door for another leg higher in XAU/USD.
Crucial Price Zones:
🔻BZ $2407/2385/2369/2332
🔺SZ $2469/2485/2525/2552
Gold price is trading on the back foot near $2,430 early Monday, consolidating the previous week’s late recovery. Traders appear non-committal and refrain from placing fresh bets on Gold price, bracing for an action-packed week, with US Consumer Price Index (CPI) inflation data in the spotlight.
Gold price braces for Iran-Israel escalation and key US data
Traders take account of the latest developments surrounding the Middle-East geopolitical tensions, with Israel preparing for an imminent attack by Iran, in retaliation for the assassination of Hamas leader Ismail Haniyeh in Tehran in late July.
On Sunday, Axios reported that the Israeli intelligence community is put on a high alert, as it is believed that Iran has decided to attack Israel directly and may do so within days.
Meanwhile, ABC News reported early Monday that the Israel Defense Forces (IDF) intercepted roughly 30 "projectiles" that were identified as crossing from Lebanon into northern Israel. This comes even as Hamas proposed a cease-fire implementation plan after a diplomatic push from the United States, Egypt and Qatar for a new round of talks to take place between Israel and Hamas on Aug. 15 in either Doha or Cairo.
If the Iran-backed militant groups, Hezbollah and Hamas, turn down any cease-fire attempts and attack Israel, the escalation could very well translate into a wider regional conflict. Mounting geopolitical tensions are likely to keep the safe-haven US Dollar (USD) buoyed, weighing negatively on the USD-denominated Gold price. Gold failed to benefit from escalating geopolitical tensions at the beginning of the week and declined sharply. The unwinding of Japanese Yen (JPY) carry trade, growing fears over a recession in the US and heightened concerns about a deepening conflict in the Middle East triggered a global market selloff on Monday, causing a variety of financial assets, except for the JPY, to suffer heavy losses.
Markets remain in a wait-and-see mode before taking any calls on the next Gold price direction, as position readjustments could be seen heading into Wednesday’s US CPI showdown. The headline annual CPI is set to rise 2.9% in July after increasing by 3.0% in June. Meanwhile, the core inflation is expected to edge a tad lower to 3.2% YoY in July versus June’s 3.3% print.
Gold investors might implement large positions based on US inflation data
Next week’s economic calendar will feature July inflation data from the US. The Consumer Price Index (CPI) is forecast to rise 0.2% on a monthly basis and the core CPI, which excludes volatile food and energy prices, is also seen increasing 0.2% in the same period. On a yearly basis, the headline CPI inflation is forecast to edge lower to 2.9% from 3% in June.
The CME FedWatch Tool shows that markets are pricing in a more-than-50% probability of a 50 basis points (bps) Federal Reserve (Fed) rate cut in September. In case the monthly core CPI rises more than forecast, investors could reassess the probability of a 50 bps cut in September and help the USD gather strength with the immediate reaction. On the flip side, a reading at or below the market expectation in this data could weigh on the USD, opening the door for another leg higher in XAU/USD.
Crucial Price Zones:
🔻BZ $2407/2385/2369/2332
🔺SZ $2469/2485/2525/2552
Piyush Lalsingh Ratnu
#blackmonday2024 Trading Performance | Analysis Review
#BlackMonday #blackmonday2024 #Forex #PiyushRatnu
https://www.piyushratnu.com/most-accurate-black-monday-august-2024-forex-trading-and-analysis-by-piyush-ratnu/
#BlackMonday #blackmonday2024 #Forex #PiyushRatnu
https://www.piyushratnu.com/most-accurate-black-monday-august-2024-forex-trading-and-analysis-by-piyush-ratnu/
Piyush Lalsingh Ratnu
Gold price is consolidating the previous swift rebound to near the $2,410 region early Tuesday, as traders absorb Monday’s volatile trading. Gold price struggles to build on the recovery mode amid a solid comeback staged by the US Dollar, alongside the US Treasury bond yields.
Following the assurances by the US and Japanese authorities to calm nerves, markets are witnessing a massive positive shift in risk sentiment. The Asian stocks attempt a turnaround, with the Japanese benchmark index - the Nikkei 225, jumping nearly 10% so far, reversing the 12% historic sell-off seen Monday.
With the return of risk flows, the haven demand for the US government bonds fades, putting a fresh bid under the US Treasury bond yields and helping lift the US Dollar across the board at the expense of the non-interest-bearing Gold price.
The diplomats from the US and Arab nations attempt to de-escalate the tensions between Iran and Israel that flared up since Wednesday, when Hamas leader Ismail Haniyeh was killed in Tehran in an attack. Iran blamed Israel, vowing to retaliate, with US intelligence noting that the attack could be panned over multiple days.
The diplomatic efforts to diffuse the situation seem to provide some support to the recovery in risk sentiment. However, traders remain wary of Iran striking back against Israel, as the former said “it didn’t care if the response triggered a war.”
Iran's foreign ministry spokesperson, Nasser Kanaani, stated on Monday that while Iran does not intend to heighten regional tensions, it believes it must punish Israel to deter further instability.
As the Middle East geopolitical situation remains in a delicate spot, traders are glued to the upcoming developments, refraining from placing any fresh position in the Gold price. However, the downside in Gold price could remain limited, as markets continue pricing in a nearly 90% chance that the US Federal Reserve (Fed) will cut interest rates by 50 basis points (bps) in September, according to the CME Group’s FedWatch Tool.
Additionally, the market has around 115 basis points of easing priced in for this year, and a similar amount for 2025, per Reuters.
Monday’s sell-off in Gold price, despite broad risk-aversion, could be attributed to investors locking in gains in their Gold longs to cover losses elsewhere. Global stock markets were in turmoil amid escalating Middle East tensions and US economic slowdown fears, following the weak US jobs report on Friday.
Crucial Price Zones:
🔺SZ $2442/2469/2485
🔻BZ $2385/2369/2342
Key Economic Data ahead:
12:30 GBP S&P Global / CIPS UK Construction PMI (Jul) 52.5 52.2
16:30 USD Exports (Jun) 261.70B
16:30 USD Imports (Jun) 336.70B
16:30 USD Trade Balance (Jun) -72.50B -75.10B
18:30 USD Atlanta Fed GDPNow (Q3) 2.5% 2.5%
20:00 USD EIA Short-Term Energy Outlook
21:00 USD 3-Year Note Auction 4.399%
Following the assurances by the US and Japanese authorities to calm nerves, markets are witnessing a massive positive shift in risk sentiment. The Asian stocks attempt a turnaround, with the Japanese benchmark index - the Nikkei 225, jumping nearly 10% so far, reversing the 12% historic sell-off seen Monday.
With the return of risk flows, the haven demand for the US government bonds fades, putting a fresh bid under the US Treasury bond yields and helping lift the US Dollar across the board at the expense of the non-interest-bearing Gold price.
The diplomats from the US and Arab nations attempt to de-escalate the tensions between Iran and Israel that flared up since Wednesday, when Hamas leader Ismail Haniyeh was killed in Tehran in an attack. Iran blamed Israel, vowing to retaliate, with US intelligence noting that the attack could be panned over multiple days.
The diplomatic efforts to diffuse the situation seem to provide some support to the recovery in risk sentiment. However, traders remain wary of Iran striking back against Israel, as the former said “it didn’t care if the response triggered a war.”
Iran's foreign ministry spokesperson, Nasser Kanaani, stated on Monday that while Iran does not intend to heighten regional tensions, it believes it must punish Israel to deter further instability.
As the Middle East geopolitical situation remains in a delicate spot, traders are glued to the upcoming developments, refraining from placing any fresh position in the Gold price. However, the downside in Gold price could remain limited, as markets continue pricing in a nearly 90% chance that the US Federal Reserve (Fed) will cut interest rates by 50 basis points (bps) in September, according to the CME Group’s FedWatch Tool.
Additionally, the market has around 115 basis points of easing priced in for this year, and a similar amount for 2025, per Reuters.
Monday’s sell-off in Gold price, despite broad risk-aversion, could be attributed to investors locking in gains in their Gold longs to cover losses elsewhere. Global stock markets were in turmoil amid escalating Middle East tensions and US economic slowdown fears, following the weak US jobs report on Friday.
Crucial Price Zones:
🔺SZ $2442/2469/2485
🔻BZ $2385/2369/2342
Key Economic Data ahead:
12:30 GBP S&P Global / CIPS UK Construction PMI (Jul) 52.5 52.2
16:30 USD Exports (Jun) 261.70B
16:30 USD Imports (Jun) 336.70B
16:30 USD Trade Balance (Jun) -72.50B -75.10B
18:30 USD Atlanta Fed GDPNow (Q3) 2.5% 2.5%
20:00 USD EIA Short-Term Energy Outlook
21:00 USD 3-Year Note Auction 4.399%
Piyush Lalsingh Ratnu
Piyush Ratnu Market Research Analysis Trading Performance
Black Monday | 05 August 2024 | Duration: 12 hours
Black Monday | 05 August 2024 | Duration: 12 hours
Piyush Lalsingh Ratnu
Why Yen carry-trades are in focus| Explained
The popular Yen-carry trade is in focus following the currency's sharp appreciation after the Bank of Japan raised interest rates for the first time in 17 years. Here's what it means.
What is carry-trade?
A carry-trade is an immensely popular trading strategy, where an investor borrows money from a country with low interest rates, through a weaker currency(Japan in this case), and reinvests the money in another country’s assets, which gives a higher rate of return. Carry trade has been one of the biggest sources of flows in the global currency market.
Why is Japan's Yen important for Carry Trade
With low volatility, yen-funded carry trades were the most popular as investors bet Japanese interest rates would remain at rock bottom. The Bank of Japan, however, raised its rates for a second time in 17 years in its July 31 meeting, and has hinted at more, reported Bloomberg. Traders are now looking at the Chinese yuan, betting on the currency’s weakening amid concerns about the country’s economy.
The popular Yen-carry trade is in focus following the currency's sharp appreciation after the Bank of Japan raised interest rates for the first time in 17 years. Here's what it means.
What is carry-trade?
A carry-trade is an immensely popular trading strategy, where an investor borrows money from a country with low interest rates, through a weaker currency(Japan in this case), and reinvests the money in another country’s assets, which gives a higher rate of return. Carry trade has been one of the biggest sources of flows in the global currency market.
Why is Japan's Yen important for Carry Trade
With low volatility, yen-funded carry trades were the most popular as investors bet Japanese interest rates would remain at rock bottom. The Bank of Japan, however, raised its rates for a second time in 17 years in its July 31 meeting, and has hinted at more, reported Bloomberg. Traders are now looking at the Chinese yuan, betting on the currency’s weakening amid concerns about the country’s economy.
Piyush Lalsingh Ratnu
#XAUUSD CMP $2404
H4AS5
H1AS2 achieved
Approaching D1AS5
Currently at PRSRSDBS S2
S3: $2385
S4: $2369
S5: $2342
#Gold #forex #PiyushRatnu #PRxauusd
H4AS5
H1AS2 achieved
Approaching D1AS5
Currently at PRSRSDBS S2
S3: $2385
S4: $2369
S5: $2342
#Gold #forex #PiyushRatnu #PRxauusd
Piyush Lalsingh Ratnu
Key Economic Data today:
17:45 USD S&P Global Composite PMI (Jul) 55.0 54.8
17:45 USD S&P Global Services PMI (Jul) 56.0 55.3
18:00 USD ISM Non-Manufacturing Employment (Jul) 46.1
18:00 USD ISM Non-Manufacturing PMI (Jul) 51.4 48.8
18:00 USD ISM Non-Manufacturing Prices (Jul) 56.3
17:45 USD S&P Global Composite PMI (Jul) 55.0 54.8
17:45 USD S&P Global Services PMI (Jul) 56.0 55.3
18:00 USD ISM Non-Manufacturing Employment (Jul) 46.1
18:00 USD ISM Non-Manufacturing PMI (Jul) 51.4 48.8
18:00 USD ISM Non-Manufacturing Prices (Jul) 56.3
Piyush Lalsingh Ratnu
BlackMonday #Yen #Japan #Gold #Dollar #Forex
Check Price projections by Piyush Ratnu Market Research:
https://bit.ly/BlackMondayScenariosbyPR
Check Price projections by Piyush Ratnu Market Research:
https://bit.ly/BlackMondayScenariosbyPR
Piyush Lalsingh Ratnu
#USDJPY #Yen #Forex #Trading #PiyushRatnu
$142.170 target achieved
Buying zone As projected on 31.07.2024
Power of YEN! We alerted in advance!
https://www.cnbc.com/2024/08/02/carry-trade-how-japans-yen-could-be-ripping-through-us-stocks.html
https://www.reuters.com/markets/currencies/yen-rises-7-month-highs-us-slowdown-fears-carry-over-2024-08-05/
Verify at: https://x.com/piyushratnu/status/1818639008752075226
$142.170 target achieved
Buying zone As projected on 31.07.2024
Power of YEN! We alerted in advance!
https://www.cnbc.com/2024/08/02/carry-trade-how-japans-yen-could-be-ripping-through-us-stocks.html
https://www.reuters.com/markets/currencies/yen-rises-7-month-highs-us-slowdown-fears-carry-over-2024-08-05/
Verify at: https://x.com/piyushratnu/status/1818639008752075226
Piyush Lalsingh Ratnu
NFP Impact:
Data: Negative
indicates: IRC chances higher
USD - XAUUSD +
USDJPY crashed: 149.080-147.080
Net crash 2000P
Possible impact on XAUUSD: $55-65++ observed till now $20
Target zones of USDJPY: $147849-146.967 was projected by me on 31 July 2024.Achieved successfully on 02 Aug. 2024.
Target Zones: $2469+ / $2472 R2 PRSRSDBS D1 format,
$2478 PRSRSDBS MN format projected by me today morning 08.35 hours: achieved successfully at 16.45 hours after NFP data.
CMP $2475 Avoid Short orders.
#NFP #Gold #XAUUSD #PiyushRatnu #Trading #forex
Data: Negative
indicates: IRC chances higher
USD - XAUUSD +
USDJPY crashed: 149.080-147.080
Net crash 2000P
Possible impact on XAUUSD: $55-65++ observed till now $20
Target zones of USDJPY: $147849-146.967 was projected by me on 31 July 2024.Achieved successfully on 02 Aug. 2024.
Target Zones: $2469+ / $2472 R2 PRSRSDBS D1 format,
$2478 PRSRSDBS MN format projected by me today morning 08.35 hours: achieved successfully at 16.45 hours after NFP data.
CMP $2475 Avoid Short orders.
#NFP #Gold #XAUUSD #PiyushRatnu #Trading #forex
Piyush Lalsingh Ratnu
#Iran #Israel #XAUUSD #NFP #PiyushRatnu Iranian commanders are considering a combination of drones and missiles on military targets around Tel Aviv and Haifa while avoiding civilian targets, the New York Times reported. Iran is also considered a coordinated attack with its proxies in Yemen, Syria and Iraq, it said.
This might result in $50+ price rise in XAUUSD in a single day, hence avoid big SHORT positions.
This might result in $50+ price rise in XAUUSD in a single day, hence avoid big SHORT positions.
Piyush Lalsingh Ratnu
US F 1 2 3 : BUY at CMP
PG 75 P | Exit in NAP
Set: 1 1 2 2 3 3 5 5
#Trading #Analysis #PiyushRatnu
PG 75 P | Exit in NAP
Set: 1 1 2 2 3 3 5 5
#Trading #Analysis #PiyushRatnu
Piyush Lalsingh Ratnu
Investors will also focus on the Average Hourly Earnings data, a key measure of wage growth that fuels consumer spending and eventually drives price pressures. Annually, the wage growth measure is estimated to have decelerated to 3.7% from the prior reading of 3.9%, with the monthly figure growing steadily by 0.3%. Softer-than-expected wage growth data will diminish fears of persistent inflation, which will strengthen Fed rate-cut prospects. On the contrary, stubborn numbers would weaken them.
Meanwhile, deepening risks of an all-out war between Iran and Israel have improved the Gold’s safe-haven appeal. Iran vows to retaliate against the killing of Hamas leader Ismail Haniyeh by an Israeli air strike in Tehran.
Meanwhile, deepening risks of an all-out war between Iran and Israel have improved the Gold’s safe-haven appeal. Iran vows to retaliate against the killing of Hamas leader Ismail Haniyeh by an Israeli air strike in Tehran.
Piyush Lalsingh Ratnu
Central bank and over-the-counter buying pushed Gold demand to record levels in Q2
Gold demand was up 4 percent to 1,258 tons in the second quarter, the highest level on record since the World Gold Council started compiling data in 2000.
Demand for gold was strong in the second quarter despite record gold prices. The LBMA gold price averaged a record of $2,338 per ounce in Q2. That was 18 percent higher year-on-year and 13 percent quarter-on-quarter.
Central bank and over-the-counter (OTC) buying offset a sharp drop in gold jewelry demand.
Based on the most recent World Gold Council survey, central banks' appetite for gold won't be sated any time soon.
Gold bar and coin demand was down about 5 percent year-on-year. A big drop in gold coin sales (38 percent) drove the overall softening of physical investment demand. Bar demand was up 12 percent. This likely reflects the fact that bars are the preferred gold product in Asia, where demand remains robust.
"OTC markets are characterized by market participants trading directly with each other. The two counterparties to trade bilaterally agree on a price and have obligations to settle the transaction (exchange of cash for gold) with each other. This form of principal-to-principal gold trading is typically less regulated than trading on an exchange and is how most of the market has functioned historically."
Gold used in technology was up a healthy 11 percent to 81 tons in the second quarter. The electronics sector drove growth, increasing by 14 percent year-on-year.
Gold demand was up 4 percent to 1,258 tons in the second quarter, the highest level on record since the World Gold Council started compiling data in 2000.
Demand for gold was strong in the second quarter despite record gold prices. The LBMA gold price averaged a record of $2,338 per ounce in Q2. That was 18 percent higher year-on-year and 13 percent quarter-on-quarter.
Central bank and over-the-counter (OTC) buying offset a sharp drop in gold jewelry demand.
Based on the most recent World Gold Council survey, central banks' appetite for gold won't be sated any time soon.
Gold bar and coin demand was down about 5 percent year-on-year. A big drop in gold coin sales (38 percent) drove the overall softening of physical investment demand. Bar demand was up 12 percent. This likely reflects the fact that bars are the preferred gold product in Asia, where demand remains robust.
"OTC markets are characterized by market participants trading directly with each other. The two counterparties to trade bilaterally agree on a price and have obligations to settle the transaction (exchange of cash for gold) with each other. This form of principal-to-principal gold trading is typically less regulated than trading on an exchange and is how most of the market has functioned historically."
Gold used in technology was up a healthy 11 percent to 81 tons in the second quarter. The electronics sector drove growth, increasing by 14 percent year-on-year.
Piyush Lalsingh Ratnu
Co-relations
US10YT stable (-)
DXY RT +60% H1
XAUXAG 84.27
USDJPY + 148.600-150.400
1800 P possible impact on XAUUSD
= $30+20= $50
$2456-50= $2407/2385 range.
H1AS5 $2424 zone
H1AS1 $2407 zone
H1AS2 $2400 zone
H4AS1 $2407 zone
H4AS5 $2407 zone
$2407 looks like ideal BUY ZONE
Crash stops:
$2385
$2369
$2332
$2300
$2288
I will prefer to BUY LOWS.
US10YT stable (-)
DXY RT +60% H1
XAUXAG 84.27
USDJPY + 148.600-150.400
1800 P possible impact on XAUUSD
= $30+20= $50
$2456-50= $2407/2385 range.
H1AS5 $2424 zone
H1AS1 $2407 zone
H1AS2 $2400 zone
H4AS1 $2407 zone
H4AS5 $2407 zone
$2407 looks like ideal BUY ZONE
Crash stops:
$2385
$2369
$2332
$2300
$2288
I will prefer to BUY LOWS.
Piyush Lalsingh Ratnu
Key Economic Data Ahead:
16:30 USD Continuing Jobless Claims 1,860K 1,851K
16:30 USD Initial Jobless Claims 236K 235K
16:30 USD Nonfarm Productivity (QoQ) (Q2) 1.7% 0.2%
16:30 USD Unit Labor Costs (QoQ) (Q2) 1.8% 4.0%
17:15 GBP BoE Gov Bailey Speaks
17:45 USD S&P Global US Manufacturing PMI (Jul) 49.5 51.6
18:00 USD Construction Spending (MoM) (Jun) 0.2% -0.1%
18:00 USD ISM Manufacturing Employment (Jul) 49.0 49.3
18:00 USD ISM Manufacturing PMI (Jul) 48.8 48.5
18:00 USD ISM Manufacturing Prices (Jul) 51.9 52.1
16:30 USD Continuing Jobless Claims 1,860K 1,851K
16:30 USD Initial Jobless Claims 236K 235K
16:30 USD Nonfarm Productivity (QoQ) (Q2) 1.7% 0.2%
16:30 USD Unit Labor Costs (QoQ) (Q2) 1.8% 4.0%
17:15 GBP BoE Gov Bailey Speaks
17:45 USD S&P Global US Manufacturing PMI (Jul) 49.5 51.6
18:00 USD Construction Spending (MoM) (Jun) 0.2% -0.1%
18:00 USD ISM Manufacturing Employment (Jul) 49.0 49.3
18:00 USD ISM Manufacturing PMI (Jul) 48.8 48.5
18:00 USD ISM Manufacturing Prices (Jul) 51.9 52.1