Gold is facing a resistance level of 1682.00. If the price exceeds this level, the rise may extend to 1700.00 - 1715.00
Gold is moving between the two borders of a descending triangle
Once again, the rise in government bond yields is acting as the catalyst for the sell off in stocks.
WTI is trending higher and if the bullish run continues, it could target 88.00 or 89.63
Zoom’s share price continues to see a lot of volatility as more workers are returning to the office and the group is struggling to keep the momentum going now, we are well beyond the pandemic.
Stocks have fallen out of favour with investors due to the rise in bond yields. The US 10-year yield is now 3.77%, which is a major rebound because earlier this week it was 3.6%.
Silver pulled back from the three-month high that is posted yesterday. Resistance might be found at 20.69 or 21.23.
Stock markets are still benefitting from the chatter the Federal Reserve might look to ease up on the pace it is hiking interest rates.
Gold hit a three week high and momentum is in positive territory, which speaks to an optimistic mood. If the rally continues, it might target 1731 or 1745.
Throughout 2022 UK banks, like NatWest, Lloyds, Barclays, and HSBC enjoyed rallies as the Bank of England was in the early stages of its interest rate hiking cycle.
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