XAU / USD trend forecast October 31, 2024
Gold prices reached a record $2,790 in the North American session as uncertainty surrounding the US Presidential Election keeps investor demand high. Strong US economic data, reflecting steady growth and a solid jobs market, limited further gains in the metal. XAU/USD currently trades at $2,785, up 0.40%, just below the all-time high after rebounding from a daily low of $2,771. Meanwhile, US Treasury yields dipped as investor optimism grew around the Fed's soft-landing outlook.
The FOMO of the end of 2024 price increase is becoming extreme - gold becomes the top active investment asset right now. We will see the highest ATH in the end of 2024, then cool down and give market share to other types.
/// SELL XAU : zone 2798-2801
SL: 2806
TP: 50 - 200 - 300 pips (2771)
Safe and profitable trading
Gold prices reached a record $2,790 in the North American session as uncertainty surrounding the US Presidential Election keeps investor demand high. Strong US economic data, reflecting steady growth and a solid jobs market, limited further gains in the metal. XAU/USD currently trades at $2,785, up 0.40%, just below the all-time high after rebounding from a daily low of $2,771. Meanwhile, US Treasury yields dipped as investor optimism grew around the Fed's soft-landing outlook.
The FOMO of the end of 2024 price increase is becoming extreme - gold becomes the top active investment asset right now. We will see the highest ATH in the end of 2024, then cool down and give market share to other types.
/// SELL XAU : zone 2798-2801
SL: 2806
TP: 50 - 200 - 300 pips (2771)
Safe and profitable trading
Trade active
Gold price sideways around the 2780-2790 price range during the Asian Thursday sessionOrder cancelled
Gold price (XAU/USD) maintains its offered tone through the early European session on Thursday amid a further rise in the US Treasury bond yields. Apart from this, bets for a less aggressive policy easing by the Federal Reserve (Fed) turn out to be key factors exerting some downward pressure on the non-yielding yellow metal. Any meaningful corrective slide for the commodity, however, seems elusive in the wake of the uncertainty surrounding the US presidential election and Middle East tensions.Trade active
‼️‼️News and USD are not biased in any direction. The results are not too volatile for USD AND XAUTrade closed: stop reached
Gold price returned to the 273x area - recovering slightly. May continue to decline tomorrow with NF news
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
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.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
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.