Weekly Markets Monitor

Gold prices fell significantly last week following a robust US employment report that heightened expectations for tighter monetary policy. This prompted a broad 'risk-off' sentiment across gold, equities, and bitcoin.

Key Takeaways

• 1.Gold prices fell 4% to US$4,365/oz, erasing year-to-date gains, amid strong US employment data and expectations of tighter monetary policy.
• 2.Technical setups for gold, silver, and bitcoin have weakened, with gold breaking below key long-term 200-day support.
• 3.US employment and economic activity reports surprised on the upside, fueling market expectations for potential 2026 interest rate hikes.

Table of Contents

• What you need to know – Red Friday
• C.O.T.W: Red Friday
• All about Gold
• Market movement across global trading sessions
• The week ahead
• Things to look out for...
• Gold technicals
• Market performance and positioning
• Key Resources
• Gold Return Attribution Model (GRAM)
• Last week's ECO data
• Recap of the week
• Gold Drivers – The USD spotlight turns back to the top of its lengthy sideways range
• 10yr US Real Yields maintain an upward bias in their three-year sideways range
• Bitcoin has fallen aggressively to leave major technical supports under threat
• US equities have also fallen sharply as Bitcoin falls and US yields and the USD rise
• Key Technical data
• COMEX positioning (tonnes)
• Weekly COMEX futures positioning data
• Weekly ETF Flows
• Year-to-date ETF Flows
• Gold market trading volumes
• Gold options volatility overview
• Gold options delta skew
• ETF Options: OI notional by strike
• Future Options: OI notional by strike
• Technical Analysis Glossary