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Gold fell sharply after no news from the fedThe positive economic data recently released has caused investors to take profits on gold, shifting their investments to profitable assets such as stocks. Investors are also selling gold because today, the Federal Open Market Committee (FOMC) will release the minutes of last month's meeting. The employment report and positive economic data, investors expect the report will also have a positive assessment of the economy, as well as the interest rate policy may remain unchanged so that the Federal Reserve can maintain the conditions to bring inflation to the target of 2%.
TVC:GOLD
by NicoTradingMaster
XAU drops sharply without any newsThe USD continues to surprise the market when it has increased quite strongly in recent sessions. Along with that, countries are also lowering interest rates and looking for ways to support the weakened economy after the pandemic and the instability of production chains as well as reduced consumer demand around the world. The price of gold rings in basic units remains the same in both buying and selling directions compared to the previous session. According to technical analysis, the indexes reaching 50 points are an expansion level. However, at the time of assessment, consumers are more optimistic than last month, showing a positive trend, they will buy more goods and services, which will boost domestic demand, stimulate businesses and the economy to grow better.
OANDA:XAUUSD
by NicoTradingMaster
Gold prices fell sharply below 2,640Gold prices were volatile last week. After the US employment data was released at 7:30 p.m. on Friday, gold prices fell sharply below $2,640/oz, but then at 10:00 p.m. the same day, gold prices rebounded, reaching $2,670/oz but immediately fell back to $2,642/oz at 11:30 p.m. Currently, gold prices are little changed around $2,650/oz. The decline in the precious metal was limited by increased safe-haven demand due to concerns about escalating tensions in the Middle East. There are several important data releases this week. The biggest risk for gold is the US consumer price index for September. According to Economists, the market will be eager to see whether inflationary pressures continue to ease, which will support the US Central Bank's easing cycle. Markets will also get the minutes of the Fed's most recent monetary policy meeting.
TVC:GOLD
by NicoTradingMaster
Gold stands firm amid Middle East conflict outbreakThe world gold price increased quite strongly after Iran's airstrike on Israel, but also cooled down, then increased rapidly again. The gold price on the international market is holding high, showing its "durability" amid escalating tensions in the Middle East, after Iran massively fired hundreds of missiles at Israel. Israel's Iron Dome air defense system is said to have failed to stop many missiles. In the context of the chaotic world political situation, especially in the Middle East, calling Bitcoin (digital gold) a safe haven has caused disagreement among many precious metal supporters.
TVC:GOLD
by NicoTradingMaster
XAU stands firm in the face of world politicsWorld gold prices are under great pressure in the context of the unstable world political situation. Domestically, the price of gold rings has increased sharply compared to gold bars - experts recommend that investors should be cautious when buying if the goal is to invest for profit, because the risk is high. World gold prices are under pressure to decrease due to profit-taking activities and the USD has increased quite strongly again. Gold prices also decreased because investors were cautious before the US economy announced important figures. These figures are believed to be able to provide clues about the scale of the interest rate cut by the US Federal Reserve (Fed) expected to take place at the end of the year. In addition, the USD's increase has also pulled money back to the greenback.
OANDA:XAUUSD
by NicoTradingMaster
Gold fluctuates amid Fed newsInvestors are looking ahead to data on the ISM services sector index and initial jobless claims, both of which are scheduled for release along with US NFP data on Friday. Data released on Wednesday showed NFP figures rose more than expected in September, suggesting the labor market remains strong. According to the CME FedWatch Tool, the probability of the Fed cutting interest rates by 50 basis points has decreased. The market is now pricing in a 37% chance of that happening, down from 49% last week. Gold tends to gain in a climate of low interest rates and political uncertainty.
TVC:GOLD
by NicoTradingMaster
XAU/USD Poised for Potential Gains Amid Market UncertaintyFor today, the technical outlook for XAU/USD (gold vs. USD) indicates a possible upward movement, with gold continuing its bullish trend due to various macroeconomic factors. Analysts suggest that if gold remains above key support levels, there could be further gains. Some expect it to test resistance around $2685, while if prices fall below $2668, a short-term decline to $2635 may follow​ This is influenced by ongoing geopolitical risks and market speculation on future Federal Reserve policy, which tends to drive safe-haven assets like gold higher
OANDA:XAUUSDLong
by BELLATRIXFX
XAU slightly increased after a sharp decline in the previous sesWorld gold regains momentum World gold prices recorded a slight increase of 2,636 USD/ounce, showing a recovery compared to the previous session. In the previous trading session, the price had fallen to 2,629.5 USD/ounce due to pressure from the signal of a moderate pace in the Fed's next interest rate easing cycle. Fed Chairman Jerome Powell spoke at the annual meeting of the National Association for Business Economics (NABE), emphasizing that the economy is in a solid state and the Fed will continue to carefully evaluate input data when considering the next policy adjustment.
OANDA:XAUUSD
by TrategySherpa
XAU drops to record low after Fed newsThe global XAU price has retreated from a recent record high on September 30, but is still set for its biggest quarterly gain in more than eight years on geopolitical tensions and a rate cut by the US Federal Reserve. Investors are looking ahead to this week’s US jobs report and non-farm payrolls data due later this week. Bullion’s gains on Monday were limited by some profit-taking and a boost in risk sentiment after Chinese stocks were poised for their best day in 16 years, analysts said.
OANDA:XAUUSD
by NicoTradingMaster
Gold is being supported to increase in price from many sides.Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month. The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%. Personal income also fell from a 0.3% increase in July to 0.2% in August, below the forecast of 0.4%. The PCE index is a measure of inflation based on changes in personal consumption and is used by the Fed as its preferred indicator of inflation. Personal spending can reflect consumer optimism.
TVC:GOLD
by NicoTradingMaster
SAU continues to rise after setting a recordWeaker US macroeconomic data has put significant downward pressure on the USD, pushing it closer to its lowest level this year while pushing gold prices to a new record high. The Consumer Confidence Index fell to 98.7 in September, down from 105.6 in August, while Current Conditions fell to 124.3 from 134.6. A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.
OANDA:XAUUSD
by TrategySherpa
extended its record rally, trading at 2,658.6we are seeing a price setup from XAU and the price is getting higher every day, every day there is a price record expect that if the trend of interest rate cuts and political tensions in the Middle East continue to escalate, there is a possibility that gold will rise to $3,000/ounce in the medium term Speculation surrounding the possibility of some new moves by Iran has boosted safe-haven demand for the precious metal, said Bob Haberkorn, senior market strategist at RJO Futures.
OANDA:XAUUSD
by NicoTradingMaster
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