Gold Climbs Back To $2,000 In Thin Holiday Trading

By Kevin BeckmanMarket OverviewApr 18, 2022 09:34AM ET

www.investing.com/analysis/gold-climbs-back-to-2000-in-thin-holiday-trading-200622368

Gold Climbs Back To $2,000 In Thin Holiday Trading

By Kevin Beckman | Apr 18, 2022 09:34AM ET

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XAU/USD

-0.78%

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+0.31%

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Gold

-0.55%

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BTC/USD

+2.72%

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Asian stock markets finished Monday’s session in the red as investors digested mixed economic signals out of China, where retail sales plunged 3.5%, more than expected, while the GDP expanded 4.8% in the first quarter versus 4.4% expected. Equities were also pressured by persistent geopolitical worries as tensions between Russia and Ukraine continued to escalate over the weekend.

While most of Europe remained closed for the Easter holiday, US stock index futures fell on Monday, with tech stocks leading the way lower amid the ongoing rally in the US Treasury yields. In turn, rising yields in combination with risk-off sentiment in the global financial markets pushed the USD index from the 100.00 handle to the two-year high of 100.76 registered last week. The buck has retreated marginally from the peaks in recent muted trading but stays elevated, signaling its readiness to challenge the 101.00 barrier after some consolidation.

Elsewhere, gold prices surged to Mar. 11 highs just below the $2,000 mark due to the risk-off trends dominating the markets these days. In the immediate term, the XAU/USD pair could see a short-lived bearish correction from the psychological level as investors may opt to take some profit before pushing the yellow metal back to all-time highs around $2,070 in the coming weeks or even days.

In other markets, the Bitcoin price dived below the $40,000 figure, suffering losses along with traditional financial markets. The BTC/USD pair slipped to fresh mid-March lows around $38,500 before bouncing back above $39,000 in recent trading. However, it’s too early to call a bottom at this stage as the selling pressure persists and could intensify at any moment. As long as the coin stays below the $43,000 mark, where the 20-DMA lies, downside risks persist in the short term.

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Dec 13, 2023

ECB

4.50%

Dec 14, 2023

BOE

5.25%

Dec 14, 2023

SNB

1.75%

Dec 14, 2023

RBA

4.35%

Dec 05, 2023

BOC

5.00%

Dec 06, 2023

RBNZ

5.50%

Feb 28, 2024

BOJ

-0.10%

Dec 19, 2023

CBR

15.00%

Dec 15, 2023

RBI

6.50%

Dec 08, 2023

PBOC

3.45%

BCB

12.25%

Dec 13, 2023

US 30	36,095.2	-109.2	-0.30%
US 500	4,567.7	-2.1	-0.05%
Dow Jones	36,095.43	-109.01	-0.30%
S&P 500	4,567.73	-2.05	-0.04%
Nasdaq	14,223.89	+38.40	+0.27%
S&P 500 VIX	13.04	-0.04	-0.31%
Dollar Index	103.969	+0.322	+0.31%

Crude Oil WTI	73.32	+0.28	+0.38%
Brent Oil	78.16	+0.13	+0.17%
Natural Gas	2.756	+0.062	+2.30%
Gold	2,031.05	-11.15	-0.55%
Silver	24.378	-0.529	-2.12%
Copper	3.7868	-0.0487	-1.27%
US Soybeans	1,299.50	-6.50	-0.50%

U.S. 10Y	4.180	-0.110	-2.58%
U.S. 30Y	4.309	-0.128	-2.88%
U.S. 5Y	4.147	-0.091	-2.14%
U.S. 3M	5.405	+0.013	+0.24%
US 10Y T-Note	110.84	+0.66	+0.60%
Euro Bund	134.93	+1.06	+0.79%
10-2 Yield Spread	-38.06	0.00	0.00%

Apple	193.47	+4.04	+2.13%
Alphabet A	131.03	+1.75	+1.36%
Tesla	244.55	+8.97	+3.81%
Amazon.com	146.53	+1.68	+1.16%
Netflix	452.07	-1.83	-0.40%
Meta Platforms	316.75	-3.27	-1.02%
Bank of America	30.53	-0.29	-0.94%

Gold Climbs Back To $2,000 In Thin Holiday Trading

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