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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
XAU awaits Fed decision for fresh impetusGold (XAU/USD) struggled to stay above $2,400 and attracted some selling pressure during Monday’s trading session due to strong demand for the US dollar. Risk sentiment was also seen as a factor weighing on the safe-haven precious metal. However, geopolitical risks from ongoing conflicts in the Middle East provided some support for gold. Meanwhile, growing expectations that the US Federal Reserve (Fed) will start cutting interest rates in September, reinforced by Friday’s US inflation report, limited the USD’s gains and helped limit the decline in gold. Moreover, traders opted to wait for the outcome of the two-day Federal Open Market Committee (FOMC) meeting ending on Wednesday. Investors will continue to monitor the Bank of Japan (BoJ) decision on Wednesday, the Bank of England (BoE) meeting on Thursday and key US macro releases, including the non-farm payrolls (NFP) report on Friday, this week. In addition, other economic data scheduled early in the new month will provide more information on the health of the global economy and determine the next direction for gold prices.
OANDA:XAUUSD
by TrategySherpa
Trading strategy when gold fallsThe recovery in the US dollar has put pressure on the yellow metal. Accordingly, the US Dollar Index rose about 0.3% to a more than two-week high, making gold more expensive for holders of other currencies. According to Marex analyst Edward Meir, in addition to the recovery in the greenback, data from China showing that gold consumption in the world's largest gold consumer has decreased also affected the direction of gold. The latest report shows that gold consumption in China fell 5.6% in the first half of 2024 as demand for gold jewelry fell 26.7% amid high prices. However, demand for gold bars and coins has skyrocketed. Although gold was pressured by the greenback, experts said the decline of this precious metal was "slowed" by concerns about increased geopolitical tensions in the Middle East after a missile attack in the Golan Heights.
TVC:GOLD
by NicoTradingMaster
XAU slightly down todayToday, the US central bank, the Federal Reserve (Fed), begins its first meeting of July and will end on Wednesday night - early Thursday (Hanoi time). The Bank of Japan (BOJ) will also meet tomorrow and the Bank of England (BOE) will meet and end on Thursday. According to Fed officials, inflation is on track, more positive when the core PCE index, excluding food and energy prices, fell to 2.6% in June 2024, much lower than the 4.3% in the same period last year. The job market is having a soft landing when the unemployment rate increased from 3.7% at the end of 2023, to 4.1% in June.
OANDA:XAUUSD
by NicoTradingMaster
Trading strategy for todayThe Fed is likely to signal plans to cut rates in September when it concludes its meeting on Wednesday, according to economists surveyed by Bloomberg News, a move they see as leading to quarterly rate cuts through 2025. Rate markets are pricing in a 100% September move, with the possibility of two more cuts by year-end, according to swaps data compiled by Bloomberg. “While the July FOMC meeting may be too early to start cutting rates, it is not too early to start preparing for a September cut,” Stephen Gallagher, an economist at Societe Generale, wrote in a note to clients. Hours before the Fed’s decision, the BoJ is expected to detail its plans to reduce bond purchases this month at the conclusion of its two-day policy meeting on Wednesday, while most economists also see a chance of a rate hike. USDJPY fell 2.4% last week as traders priced in more than a two-thirds chance of a 10-bps rate hike, triggering a selloff in risk-sensitive developed and emerging market currencies and sending the Nikkei 225 into a technical correction.
TVC:GOLD
by NicoTradingMaster
XAU Recovers After 2 Weeks as USD WeakensXAU prices saw a sharp sell-off following the release of positive US macroeconomic data, plunging to a more than two-week low on Thursday. The preliminary estimate of the US Gross Domestic Product (GDP) showed the US economy growing at a faster-than-expected pace and inflation falling in the second quarter of 2024. This suggests that the US economy is still holding up well and has created some stability in financial markets, thereby putting pressure on the precious metal - a traditional safe-haven asset. The bullish sentiment continued to keep gold prices on the defensive in the Asian session on Friday, although expectations that the Federal Reserve (Fed) is about to start its rate-cutting cycle helped limit losses. Traders also turned cautious and awaited the release of the US Personal Consumption Expenditures (PCE) Price Index later Friday. This key inflation data will play a key role in determining the Fed's policy path.
OANDA:XAUUSD
by NicoTradingMaster
XAU waits for news from the US Federal Reserve (Fed)Previously, gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics. The decline of many stock markets also caused gold to be sold to compensate for stock purchase contracts. However, bottom-fishing demand quickly increased again for gold. Demand increases quite strongly every time gold reaches the psychological support level of 2,400 USD or 2,395 USD/ounce.
OANDA:XAUUSD
by NicoTradingMaster