Market Insight Reveals Volatility Ahead: AUD/USD Weakens, US500 and ASX200 under Pressure, Gold and Silver at Pivotal Moment
Gold Spot Price $AU2,676.61
Silver Spot Price $AU31.53
Platinum Spot Price $AU$1,353
Charts Today
Today we’re looking closer at some alternative charts. As the world’s economy continues to bounce around, it is time to collectively take a more macro view of markets.
AUD/USD
As the USD strengthens, we’ve just seen the AUD move below its 200MDA.
US500
Is the worst behind us? Currently seeing the US500 fighting off downward pressure towards its 200MDA
ASX200
More volatile than the US500, our local market will decide in the coming weeks to either weaken down towards its 200MDA or continue its upward trend.
Gold
Currently holding strong above its 200MDA, Gold is currently sitting at a very overall average price since 2019. The next few weeks will be pivotal in telling which way Gold will move.
Silver
More volatile than Gold, Silver quickly sought comfort in the last 3 weeks at exactly its 200MDA and will now either show strength and bounce back up or weaken further.
Market News Highlights
With a plethora of charts to look at today, all are pointing to a very interesting next few weeks. As gold and silver investors, I’m sure you’re all keenly observing and ‘feeling’ something is about to unfold. Either way, the next period will open opportunities to take profit or secure additional bullion at a great price.
In summary of these charts:
- Our Aussie dollar is weakening through a stronger US dollar
- Our ASX200 is looking a little too high
- Silver has quickly settled at its 200 moving day average in the last 3 weeks
Meanwhile, what can’t be ignored in the US:
- Record $16.9 trillion in household debt
- Record $930 billion in credit card debt
- Record $1.52 trillion in auto loans
- Interest payments to restart on $1.635 trillion in student loans
- $11.92 trillion in mortgages
Is a recession inevitable?
*Not financial advice, please do your own research prior to any investment decisions you make.
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Next Market Insight – 22 February 2023
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