XAUUSD BUY opportunity XAUUSD slowly up lets see
There was no major news on the wire to trigger the minor selloff in global equities so it was nothing else than a correction after a long rally
Forexpower
Gold buy opportunity very very easy flying big bullish all time Gold has broken above the upper resistance of the dotted blue trend lines as discussed earlier this week Prices are now pushing higher with the target of this move remaining upward This is due to the ascending broadening wedge pattern which indicates significant volatility and supports gold prices above the blue dotted trend line
World gold will reach 2,600 USD/ounce when the Fed cuts interestGeopolitical tensions continue to be a catalyst supporting the gold rally. In today's trading session, XAU/USD is expected to continue to maintain above the 2,500 zone and has the potential to increase further. However, investors should note that if the price closes below 2,499 on the H4 time frame, it could be a sign of a short-term correction.
There is no news for gold today, the current trend is still sideways at 2482 and 2510, it can trade in this price range.
XAU increases sharply to maintain record high priceThe $2,500/ounce level of the precious metal is very difficult to maintain. Because, after reaching a new historical milestone, gold is easily sold off by investors to take profits. Not only that, at such a high price, it is difficult to attract new buyers to the market, also causing this commodity to decrease in price.
The upward trend of gold is still in place and the direction of the precious metal will depend on the policy direction of the US Federal Reserve (Fed).
The balance between economic growth and inflation is reduced, which will strengthen the possibility of a stronger interest rate cut. On the contrary, if he is optimistic and does not make a specific commitment, the market may have to readjust current expectations.
XAU receives strong support from USDWeaker USD Supports Strong XAU Gains
XAU is currently at an all-time high
Although gold has since been hit by a wave of profit-taking from investors, the decline in the USD is providing positive support and halting the decline in the precious metal.
Traders are now looking ahead to the annual Jackson Hole Federal Reserve meeting that begins later this week. In previous years, central bank officials have made market-moving statements at the meeting. Federal Reserve Chairman Jerome Powell is scheduled to speak at the meeting on Thursday morning.
XAU has a long term uptrendGold had a stellar week, with a rally on August 17 pushing the precious metal to an all-time high above $2,500 an ounce and, according to experts, the long-term trend is definitely up. The housing data released this morning was so bad that it pushed market expectations even higher. "It really amplified the gold market and the possibility of a rate cut in September will continue to increase
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.
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.
$AUDNZD TAKES A DUMP [SELL] INTO MARKET CLOSE.Much-needed price correction for the pair after strong deviation. Expecting the midline between 0.618 and 0.786 Fibonacci levels. I’ve gathered at least five confirmations on four different higher time frames, with smaller time frames only confirming further. ¡Buena suerte, mi gente!
EUR JPY Trade Setup 30 mins timeframe. EUR JPY has formed an head and shoulders pattern on the 30 mins timeframe.
This pattern was formed at the 4 hour resistance level.
Now we need to see a soild candlesticks confirmation pattern before going short.
Don't trade all the time, trade forex only at the confirmed trade setups.
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
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.
Gold prices skyrocket!Gold prices rose more than 1% on Tuesday and hit their highest since August 2, as money poured into safe havens as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve’s path to interest rate cuts.
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.
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.
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.
XAU slightly down todayBOCI head of commodities Amelia Xiao Fu said that gold still has some weakness, mainly due to the strength of the US dollar, but the macro environment for gold is relatively positive.
Investors expect central banks to cut interest rates, which will limit the possibility of gold falling, if not push gold prices to new record highs. He expects gold prices to reach $2,500 in the short term, said Forex.com market analyst Fawad Razaqzada.
XAU is sideways todayForecasting the gold price trend, although gold has had two consecutive sessions of price decline, experts said that the decline of gold has been significantly limited thanks to expectations that the US Federal Reserve (Fed) will cut interest rates in September and concerns about escalating geopolitical tensions in the Middle East.
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.
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.
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.
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.
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.
