- Gold price halts a losing streak due to correction in the US Dollar. Greenback extends losses after weaker-than-expected US employment data. Higher US Treasury yields beat the non-yielding assets like Gold.
- Gold price snaps the losing streak that began on September 25, trading around $1,830 per troy ounce during the early Asian trading session on Thursday. However, the prices of Gold could face challenges due to market caution regarding the US Federal Reserve's (Fed) interest rate trajectory.
- The market sentiment leans towards lower year-end forecasts for spot Gold prices, driven by still-high expectations of higher-for-longer rates from the US Federal Reserve (Fed).
- The US Dollar Index (DXY) pulls back from an 11-month high after weaker US employment data on Wednesday, which might lower US Treasury yields. The DXY beats lower around 106.60 at the time of writing.
- Psychology, discipline and capital management are the three factors that make victory possible.
BUY XAU PRICE 1820 - 1822 ↠↠ STop 1825
→Profit 1 1825
↨
→Profit 2 1830
SELL XAU PRICE 1837 - 1839↠↠ STop 1842
→Profit 1 1835
↨
→Profit 2 1930
- Gold price snaps the losing streak that began on September 25, trading around $1,830 per troy ounce during the early Asian trading session on Thursday. However, the prices of Gold could face challenges due to market caution regarding the US Federal Reserve's (Fed) interest rate trajectory.
- The market sentiment leans towards lower year-end forecasts for spot Gold prices, driven by still-high expectations of higher-for-longer rates from the US Federal Reserve (Fed).
- The US Dollar Index (DXY) pulls back from an 11-month high after weaker US employment data on Wednesday, which might lower US Treasury yields. The DXY beats lower around 106.60 at the time of writing.
- Psychology, discipline and capital management are the three factors that make victory possible.
BUY XAU PRICE 1820 - 1822 ↠↠ STop 1825
→Profit 1 1825
↨
→Profit 2 1830
SELL XAU PRICE 1837 - 1839↠↠ STop 1842
→Profit 1 1835
↨
→Profit 2 1930
Trade active
Note
- Uncertainty over where US yields and the Dollar will peak are a headwind for Gold in the near term. The metal typically comes under pressure when risk-free rates rise and when the US currency strengthens, which raises the price for non-dollar investors and suppresses demand.Note
Higher-for-longer interest rates are keeping Gold prices fixed at the bottomNote
- Gold prices extended its multi-session decline on Thursday on the back of rising open interest and an extra pullback in volume. Against that, bullion is projected to maintain its current consolidative mood around the $1820 region per troy ounce for the time being.Note
Gold price (XAU/USD) delivers V-shape recovery despite the United States Nonfarm Payrolls (NFP) report for September has reported that the number of job-seekers hired were significantly higher than expectations. Fresh payrolls were 336K while investors forecasted that US employers added 170K employees and 187K jobs were created in August. Weak Employment numbers from Automatic Data Processing (ADP) also elevated expectations of a decline in labor demand. The Unemployment Rate remained steady at 3.8% but a tick higher than expectations of 3.7%.Note
Gold spot prices are catching a late-week lift out of the week's lows following a bumper NFP report.Trade active
Note
Chicago Federal Reserve Bank President Austan Goolsbee sees no more upside in Treasury yields and expects the US economy to remain on the ‘golden path’ towards a 2% inflation goal.Note
Gold price discovers buying interest after dropping to near $1,810 as investors ignore the release of the better-than-anticipated NFP report. A death cross, represented by the 50-day and 200-day Exponential Moving Averages (EMAs) at $1,905.00, warrants more downside. Momentum oscillators have turned extremely oversold.Trade active
Note
Everything went as predicted.Trade active
Note
Geopolitical tensions in the Middle East and retreating US bond yields lend support.Note
great !Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.