GOLD WEEK (24/02/2025)
❗️Economic analysis:
1. Concerns about global economic instability
- The US tariff policy is putting great pressure on the world economy, increasing concerns about stagflation (weak economic growth but high inflation).
- This boosts demand for gold from individual investors and central banks, especially the BRICS bloc.
2. Geopolitical risks & ETF investment
- Political tensions in Europe and the Trump administration's economic policies continue to support gold prices.
- Gold ETFs also recorded increased capital flows, showing confidence in the upward trend.
‼️Gold price outlook next week (News and technical perspective)
1. News factors
- The US core PCE index (released on Friday) is the most important event of the week, as this is the inflation measure that the FED prioritizes.
- If the PCE increases, the FED may delay cutting interest rates, putting downward pressure on gold.
- If the PCE decreases sharply, the gold price may exceed 3,000 USD/oz
2. Technical analysis
- Gold prices are still in an uptrend, with the wave model that Min drew on Friday for everyone to catch the BUY point at 2924, but indicators such as MACD are showing divergence signals, it is expected that this week will increase at the beginning of the week and sell off at the end of the week.
- The moving averages EMA 34 & 89 are far away from the price, indicating the possibility of a correction before continuing to increase.
So watch for Buy at the beginning of the week.
Buy around 2929 - 2927,
stoploss 2923. 🔼
Breakout 2927 then wait at the supports: 2916 - 2906 - 2901 - 2985... 🔽
Resistance: 2945 - 2950 - 2968 - 2985
(The blue area drawn at the border of 2941-2945 is the predicted sw zone, breaking through this zone is expected to increase nicely, break 2950 and close the candle, don't block the Sell head)
Sell entries according to the above resistance will wait for the price to approach that zone to update the plan.
❗️Economic analysis:
1. Concerns about global economic instability
- The US tariff policy is putting great pressure on the world economy, increasing concerns about stagflation (weak economic growth but high inflation).
- This boosts demand for gold from individual investors and central banks, especially the BRICS bloc.
2. Geopolitical risks & ETF investment
- Political tensions in Europe and the Trump administration's economic policies continue to support gold prices.
- Gold ETFs also recorded increased capital flows, showing confidence in the upward trend.
‼️Gold price outlook next week (News and technical perspective)
1. News factors
- The US core PCE index (released on Friday) is the most important event of the week, as this is the inflation measure that the FED prioritizes.
- If the PCE increases, the FED may delay cutting interest rates, putting downward pressure on gold.
- If the PCE decreases sharply, the gold price may exceed 3,000 USD/oz
2. Technical analysis
- Gold prices are still in an uptrend, with the wave model that Min drew on Friday for everyone to catch the BUY point at 2924, but indicators such as MACD are showing divergence signals, it is expected that this week will increase at the beginning of the week and sell off at the end of the week.
- The moving averages EMA 34 & 89 are far away from the price, indicating the possibility of a correction before continuing to increase.
So watch for Buy at the beginning of the week.
Buy around 2929 - 2927,
stoploss 2923. 🔼
Breakout 2927 then wait at the supports: 2916 - 2906 - 2901 - 2985... 🔽
Resistance: 2945 - 2950 - 2968 - 2985
(The blue area drawn at the border of 2941-2945 is the predicted sw zone, breaking through this zone is expected to increase nicely, break 2950 and close the candle, don't block the Sell head)
Sell entries according to the above resistance will wait for the price to approach that zone to update the plan.
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🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
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.