Although market sentiment regarding the reduction of rate hikes in the USA appears premature, there is a sense of euphoria. Just recently, 10-year yields reached 4.1%, but today they stand at only 3.85%. There is significant movement in TNOTE today, resulting in substantial gains in the precious metals market. Gold is up 1.3%, while silver has experienced an upward movement of over 4%.
More than half of the Head and Shoulders pattern on gold has been fulfilled with a test of the $1960 per ounce level. Gold is testing its highest levels since June 20th. Source: xStation5.
Silver is gaining over 4% today, resulting in a $1 increase per ounce. It surpasses the range of the largest correction in the trend. Additionally, the 50-session moving average is broken. In previous instances in October 2022 and March of this year, such breakouts led to rallies of approximately $3.5 since the breakout. If a similar pattern occurs, the price could potentially reach as high as $27 per ounce. Source: xStation6.
Morning Wrap: Ceasefire Fuels Wall Street Gains, but Political Uncertainty Remains
Daily Summary: Unilateral Ceasefire Sufficient for Wall Street
BREAKING: Crude Build Surprises Markets Amid Bullish Product Draws
The ceasefire is back on, but the good news may already be priced in
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
