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Gold prices have weakened and dropped below 1920 on Friday. The yield on the 10-year US Treasury bond remains above 4.1% after data on the Producer Price Index (PPI) for July came in higher than expected, making it difficult for XAU/USD to maintain its position. Predict that gold price will continue to increase in the trend of USD recovering. Downtrend continues.
Gold prices declined slightly earlier today, reaching a low of $1,912.66 during London trading hours. However, the losses were mostly recovered after Wall Street's opening. The US Dollar gained strength in the first half of the day due to a cautious market sentiment caused by tensions between China and the US, which raised concerns about economic growth. Later in...
XAU/USD is experiencing a second consecutive day of decline, although it has managed to rebound from its recent low and is currently trading around 1,190. On the daily chart, technical analysis indicates that the 20 Simple Moving Average (SMA) is showing a bearish trend below the 100 SMA, acting as a resistance level at 1,930.70. The 200 SMA, on the other hand, is...
The price of gold (XAU/USD) continues to rise for the fourth day in a row, although it lacks strong upward momentum around 1,923 as we enter Tuesday's European session. This lack of momentum can be attributed to the US holidays and a light calendar elsewhere, which has resulted in a sluggish market. However, traders remain active due to concerns about the global...
The hawkish stance of major central banks and the prospect of further interest rate hikes continue to act as headwinds for gold prices, which do not provide any yield. Additionally, the emergence of new US dollar purchases has proven to be another factor driving the outflow from XAU/USD. In fact, the US Dollar Index (DXY), which tracks the greenback against a...
Gold prices have rebounded slightly after dropping below 1900 for the first time since March 15, 2023. The prices increased by approximately 0.09% following optimistic economic data from the United States, as speculation grew that the Federal Reserve would raise interest rates. Additionally, the data has dampened expectations of a "hard landing," with the economy...
The XAU/USD pair is experiencing a downward trend for the third day in a row. It reached a low of $1,902.80 during the American session. The US Dollar gained strength before the opening of Wall Street due to negative US data and upcoming statements from central bankers, leading to a risk-off sentiment in financial markets. In the first half of the day, investors...
Late on Tuesday, US President Joe Biden expressed concerns about China's significant challenges, sparking fears about the global economy and a potential conflict between the US and China. These apprehensions have also prompted gold buyers to take action. Adding to this, the Wall Street Journal (WSJ) reported that the Biden administration is contemplating imposing...
XAU/USD holds steady above 1,920 level, not out of the woods yet The Federal Reserve (Fed) has indicated that interest rates may still need to increase by up to 50 basis points by the end of this year. Furthermore, Fed Chair Jerome Powell, in his recent two-day testimony before Congress, stated that the US central bank does not foresee any rate cuts in the near...
Top should happen end this week or beginning next one (monday - tuesday) That would mean futures arnu 1880-1890, with DXY (dollar index) 102-103 points. After that a correction for a bullish continuation. Bull is here to stay and could probably see again the hights of previous years this spring. So.. GDXJ around 41$-42$ also. GDX around 33$ too by the end of...
I’ve been searching for interesting patterns with critical commodities in bear markets. I noticed something interesting. Oil and gas seem to pump before and during the early stages of bear markets. When the largest and most demoralizing drop happens, Oil and gas seem to lead the way. Their previous pump is erased and the market goes with it. Good luck all!
The trend in gold from the top in 2011 to now is following an almost identical log scaled path from 1996 - 2011. A 4 year consolidation followed by 10 year up trend. If the pattern continues the chart points to $8000 gold by end of the decade 2021 - 2028/30. The current cup and handle forming could take gold to $3000 within the next 18 - 24 months.
GOLD FUTURES XAUUSD A GOOD SIGNAL TO SELL THE MARKET WILL GO DOWN BY 95% DO NOT FORGET TO FOLLOW ME TO BRING YOU ALL NEW LIKE FOLLOW THANKS YOU