Gold Spot Price
$AU3691

Silver Spot Price
$AU43.54

Platinum Spot Price $AU1486

Poor earnings from Microsoft amidst an apparent Super Growth Period from AI have surprised investors and economists. Growth from its cloud service Azure has proved disappointing with 5.5% being shed from one of the biggest companies in the World. Effects from this result sent shivers through the US500 causing what looks to be a Dead Cat Bounce chart pattern. Typically Dead Cat Bounce patterns occur when an obvious dip in pricing looks to recover (bringing in a lot of retail investors) then fails and continues to fall. Generally in these market cycles, Mum and Dad retail investors are left holding the bill, unable or unwilling to sell their shares at a loss.

And Australia will be nervous leading into the coming week with the RBA potentially getting ready to raise rates yet again. Quarterly inflation data will be presented later today giving some insight into which way Governor Michele Bullock will direct the cash rate for the next period. With over 1,000,000 households already in mortgage stress, this next decision will surely seal the fate for many.

While sharemarkets jitter, Gold looks to be holding onto its pricing recovery. While not matching its explosive growth in early 2024, its recent patterns look to be healthy and following positive distancing from its 200MDA.

We’ll have more commentary on the RBA’s data this Friday.

Enjoy today’s charts.

Gold daily chart, with 200MDA