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XAU Could Surpass All-Time HighThis gold buying trend is expected to remain unchanged in the coming period due to the impact of the current economic situation and geopolitical conflicts. At the same time, consumer prices have fallen after hitting a record high, easing pressure on the market. The focus of gold investors next week is the annual central bank conference at the Fed's Jackson Hole resort. Fed Chairman Jerome Powell will speak on Friday, expected to share the prospect of an upcoming Fed rate cut. Positive US inflation data in July has paved the way for the Fed to cut interest rates in September. The market predicts the Fed will cut by 0.25 percentage points at this meeting.
OANDA:XAUUSD
by TrategySherpa
XAU surges despite positive news for DXYThe drop in jobless claims suggests the US economy is recovering well, which further strengthens the case for a lower-than-expected interest rate cut by the Federal Reserve in September. The precious metal, which has been under pressure from the sell-off earlier this week, was further weighed down by the latest inflation report, which dampened market optimism about a September monetary policy pivot. The US consumer price index (CPI) rose 0.2% in July, compared to a 2.9% increase in the same month last year, according to the US Department of Labor's Bureau of Labor Statistics. Tai Wong, an independent metals trader in New York, said that a September rate cut was a certainty. However, the latest data disappointed the market by reinforcing the case for a 25 basis point cut, instead of the expected 50 basis points.
OANDA:XAUUSDShort
by NicoTradingMaster
Long term strategy when trading goldAfter gold fell and corrected from the 0.618% Fibonacci extension stage to $2,455, as readers stated in yesterday`s edition, gold has now recovered barely and misplaced its bearish corrective momentum. In the short, medium and lengthy time period, the technical shape in addition to the fashion continue to be bullish. With gold breaking above the 0.618% Fibonacci stage, it'll open a brand new uptrend. With the short-time period goal at $2,484 (all-time high) and above the preliminary fee of $2,500-2,505. As lengthy as gold stays above the $2,455-$2,448 area, it'll nevertheless have a bullish short-time period technical outlook and the principle fashion is highlighted through the fee channel and the principle aid stage is highlighted through the EMA21. For the day, the technical outlook for gold charges stays bullish because the Relative Strength Index continues to be a ways from oversold territory, suggesting there's nevertheless room for boom ahead. And the tremendous fee tiers may be indexed once more as follows. Support: 2,455 - 2,448 USD Resistance: 2,471 -2,484-2,500 USD
TVC:GOLD
by NicoTradingMaster
Focus on the consumer price index (CPI) reportGold prices are currently at a very high level, up about 36% compared to October 2023, so there is always pressure to take profits after each strong increase. Investors are closely monitoring the conflict in the Middle East. This is still considered a powder keg that can cause tension in the global financial market. Investors are also paying attention to the US consumer price index (CPI) report, expected to be announced on August 14. This is considered one of the most important indicators that the Fed monitors to make decisions on monetary policy. If the CPI continues to show a downward trend in inflationary pressure, the possibility of the Fed cutting interest rates in the coming months becomes even clearer. Gold is forecast to reach $2,500/ounce in the second half of the year. This is easier than ever when the price for December delivery has exceeded this threshold. If tensions escalate uncontrollably in the Middle East, gold prices could climb further.
OANDA:XAUUSD
by TrategySherpa
XAU continues to increase from last weekend's sessionAt the beginning of the trading session in the US market, the world gold price continued to increase from the session at the end of last week. The US unemployment benefit application report released in the middle of last week brought optimism to the stock and gold markets. After a quiet week, the world gold market is about to receive a series of important information that can affect the direction of the precious metal in the short term. Specifically, the producer price index, consumer price index, retail sales in July, weekly unemployment benefit applications, housing starts and building permits in the US in July, ... Marc Chandler, General Director of Bannockburn Global Forex, said that the information that the market is most looking forward to is the July consumer price index report, which is likely to remain unchanged compared to the same period last year. This helps the US Federal Reserve (Fed) to cut interest rates in September.
OANDA:XAUUSD
by NicoTradingMaster
Investors hope gold will increase in the coming time.Most industry experts predict that gold prices will remain flat. Most retail traders expect gold prices to rise. The market will be paying attention to some notable economic news this week, including the July PPI, July CPI, July retail sales and weekly jobless claims, the University of Michigan's preliminary consumer sentiment survey for August, etc. The market is currently focused entirely on the prospect of a September interest rate cut from the US Federal Reserve (Fed). Gold investors will pay close attention to the Fed's speaker list this week.
OANDA:XAUUSD
by NicoTradingMaster
XAU Rising Strongly After Deep FallGold (XAU/USD) rose on Thursday, snapping a four-day losing streak, although it lacked momentum and remained below $2,400 heading into the European session. Investors remain concerned about the economic slowdown in China and the possibility of a US recession. This, coupled with escalating geopolitical tensions in the Middle East, should act as a supportive factor for gold. Moreover, expectations of more rate cuts from the Federal Reserve (Fed) kept the US dollar on the defensive, confirming the positive outlook for the non-yielding precious metal.
OANDA:XAUUSD
by TrategySherpa
Gold falls as investors sell offStock markets fell from Asia to North America as investors fled riskier assets while betting that the Federal Reserve will need to cut interest rates quickly to boost US economic growth. "Stocks are falling as the US jobs report (on Friday) showed the US economy created fewer jobs than expected last month, while factories across the US, China and Europe are struggling with weak demand," said Phil Flynn, senior analyst at Price Futures Group. The Bank of Japan (BOJ) raised its main interest rate again last week and also said it would halve the amount of government bonds it buys. The news of the tightening sent the Japanese yen higher against the US dollar. Tighter monetary policy in Japan, combined with the prospect of an imminent US rate cut, has shifted global investment flows, including the unwinding of the yen yield spread trade.
TVC:GOLD
by TrategySherpa
XAU plunged this morningGold prices “plummeted” at the start of the week because of robust promoting stress as traders persevered to promote gold to cowl losses withinside the inventory marketplace. The inventory marketplace “wobbled” on the cease of ultimate week as recession fears unfold following a disappointing jobs report. The S&P 500 fell almost 4%, with maximum of the promote-off taking place on Thursday and Friday. The Nasdaq ended the week down almost 5% from its excessive and formally entered undergo marketplace territory. Although taken into consideration a secure haven in instances of uncertainty, specialists say gold become now no longer proof against the promote-off on Monday as traders dumped property throughout the board. Despite the pointy fall in gold prices, analysts stated gold, which has won extra than 16% this year, may want to regain momentum withinside the future, because of chronic financial and political uncertainties in addition to expectancies of a price reduce via way of means of the United States Federal Reserve, which could gain bullion.
OANDA:XAUUSD
by NicoTradingMaster
XAU continues to rise amid tensions in the Middle EastMost investors expect the precious metal to continue to rise next week. Experts are also optimistic about the gold price increase. After the jobs report was released, the possibility that the US Federal Reserve (Fed) wants the economy to achieve a soft landing is very low. US growth depends largely on consumption, so sluggish consumption will lead to slow growth. The disappointing jobs data shows that the Fed made a policy mistake by waiting too long to cut interest rates.
OANDA:XAUUSD
by TrategySherpa
World gold expands growth momentumamid geopolitical tensions in the Middle East Gold prices continued to extend their gains, hovering around $2,451 an ounce, thanks to safe-haven demand amid concerns over escalating tensions following the assassination of a Hamas leader in Iran. The war in Gaza and the deepening conflict in Lebanon have left the entire region in turmoil. The precious metal's gains were further fueled by Federal Reserve Chairman Jerome Powell's hint that a rate cut could be discussed as early as September if inflation remains in line with expectations. Traders are now awaiting the US payrolls report due out on Friday for further clues on the Fed's policy path.
TVC:GOLD
by NicoTradingMaster
Gold rose and held at 2454 todayExperts say that the direction of gold this week will depend on the data released last week when the market lacked important new data. The most anticipated report of the week is the purchasing managers index (PMI) in the service sector for July. A majority of economists surveyed by Reuters expect the Fed to cut rates twice this year, starting in September. Traders are currently pricing in about a 63% chance of a September rate cut, according to the CME FedWatch Tool.
OANDA:XAUUSD
by NicoTradingMaster
US Treasury yields have fallen sharply, dragging gold prices upGold prices rose more than 1.0% on Thursday, helped by a sharp decline in US Treasury yields after the release of US labor market data. Specifically, the number of jobless claims in the second week of November rose more than expected, reaching 231,000, higher than the forecast of 220,000. The number of people receiving unemployment benefits also surprised by rising to 1,865,000 - the highest in nearly two years, showing the difficulty of the US labor market. Weak economic data, along with CPI and PPI data released earlier in the week, reinforced the view that the Fed's rate-hiking cycle is over. This has had a strong impact on US Treasury yields, causing the 10-year Treasury yield to fall below 4.45%, approaching its lowest level since late September. With the market expecting the Fed to gradually ease monetary policy, gold prices could maintain an upward trend in the short term. This scenario will be confirmed if US economic data continues to weaken.
OANDA:XAUUSD
by NicoTradingMaster
Gold rises due to Middle East geopolitical tensionsMarket expectations are growing that the Fed is preparing to cut interest rates in September. While gold prices remain on an upward trend, some investment firms are warning investors that the market will be volatile in the coming period. Fed funds futures are fully pricing in a September 2024 rate cut for the US, and the market consensus is for 100 basis points of cuts next year. However, with the European Central Bank and several other developed world central banks already starting their rate-cutting cycle, the US dollar remains firm, providing a headwind for dollar-denominated gold. On Thursday (1/8), the Bank of England (BoE) cut the Bank Rate by 25 basis points to 5%. The Bank of England is now the third major central bank to cut interest rates ahead of the US Federal Reserve, along with the Swiss National Bank, the Bank of Canada and the European Central Bank.
TVC:GOLD
by TrategySherpa
XAU rises on Fed policy and geopolitical tensionsGold prices rose above $2,400 ahead of the Fed's policy meeting, according to Sagar Dua, a financial analyst at Fxstreet. The central bank is expected to keep interest rates unchanged at 5.25%-5.50% for the eighth consecutive time. In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has returned to the bank's 2% target. Powell may also highlight rising risks to the labor market. It will be difficult for Powell to set a timeline for a rate cut as the fight against inflation is far from over and the US economy is growing at a strong pace.
OANDA:XAUUSD
by NicoTradingMaster
Inflation returns and sends XAU soaringThe strength of the US labor market appears to be fading as a restrictive policy framework remains in place. The unemployment rate in June, at 4.1%, was recorded as the highest in more than two years. In addition, JOLTS Open Jobs data increased almost steadily in June. The number of job vacancies in June reached 8.18 million compared to expectations of 8.03 million but lower than the previously released figure of 8.23 ​​million, indicating that demand for jobs has been waning. On the other hand, bullion also benefited from safe-haven buying after an airstrike killed a Hamas leader in Tehran, Iran. Israel is believed to have carried out the assassination. The news angered Iran and its proxy groups across the Middle East.
OANDA:XAUUSD
by TrategySherpa
XAU is expected to fall sharply in the coming time.The price increase in the international market is mainly due to increased bottom-fishing demand. In the previous sessions, the precious metal fell quite deeply, at times down to 2,370 USD/ounce, but still held firm above the important support level of 2,350 USD/ounce - the 50-day average price. Demand for gold is overwhelming compared to the pressure from a rising USD. Gold is forecast to hardly decrease deeply and is ready to increase in price following the interest rate cut signals of the US Federal Reserve (Fed) and purchasing power from major players in the world. If previously, central banks of many countries, including China, bought heavily, causing gold to skyrocket in late 2023 and early 2024, recently, gold exchange-traded funds (ETFs) have stepped up their purchases of this commodity. The buying activities of large funds such as SPDR Gold Trust have made many people believe in a new rally in gold.
OANDA:XAUUSD
by NicoTradingMaster