Gold price edges higher amid US presidential election uncertainty
2024-11-04
Gold price drifts higher in Monday’s early European session.
Safe-haven demand amid US presidential election uncertainties, persistent Middle Eastern tensions, might lift the Gold price.
Traders brace for the US election outcome on Tuesday ahead of the Fed rate decision.
The Gold price (XAU/USD) trades in positive territory on Monday. The US presidential election risks and the ongoing Middle East geopolitical tensions are likely to underpin the yellow metal, a traditional safe-haven asset, in the near term. Nonetheless, the renewed Greenback demand and higher US bond yields might cap the upside for Gold price as higher yields make non-yielding assets like bullion less attractive in comparison.Investors will closely watch the looming US presidential election on
USD/CHF Price Prediction: Gaps higher at open, uptrend remains intact
2024-10-28
USD/CHF has opened a Runaway Gap higher at the open, suggesting the uptrend will continue.
Volume is low, reducing the chances that the gap represents a point of exhaustion.
USD/CHF opened a gap higher at the open on Monday (see chart below) and then promptly fell back down. It has since closed the gap.
Despite the speed of the decline following the gap higher, the short and medium term trend is still probably bullish, which given the old saying that “the trend is your friend” is likely to continue.
USD/CHF 4-hour Chart
The gap is probably what would be classified as a “Runaway Gap”. These happen during strong rallies.
The lack of volume accompanying this gap (yellow rectangle on volume) indicates this is probably not an Exhaustion Gap which comes at the