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Gold continues to fall deeply, long-term sell entry, target 1955World gold prices decreased this morning with spot gold down 13.5 USD to 1,977.5 USD/ounce. Gold futures last traded at 1,988.6 USD/ounce, down 10.6 USD compared to yesterday morning's gold. During the first trading session of the week, safe-haven metals came under pressure as risk appetite among investors and traders increased. According to experts, weak safe-haven demand combined with interest rate expectations are factors holding back gold. Since the Israel-Hamas conflict broke out, safe-haven buying has helped gold gain 7%. However, according to Kitco Metals senior analyst Jim Wyckoff, risk appetite is improving and there are no major unexpected developments from the Israel-Hammas conflict that is gaining its safe-haven appeal for investors. of gold. Unusually high central bank buying may help explain why gold prices have remained resilient despite downward pressure from the strength of the dollar and rising bond yields so far this year.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Gold is decreasing, should I buy or sell gold now?Last week, gold fluctuated with a narrow range and regularly tested the psychological barrier of 2,000 USD/ounce. However, the metal still failed to hold this level as it was caught between conflicting factors between interest rate expectations and geopolitical concerns. Among Wall Street analysts participating in the survey, 60% expect gold prices to move higher this week. 64% of retail investors participating in online polls have the same opinion. Forecasting this week's gold price trend, Kitco News' weekly gold survey shows that analysts and retail investors are optimistic about gold for the week ending November 10. Experts expect the price to break out this week even though there is not much supporting information. Adam Button, currency strategist at Forexlive.com, said that Friday's weak nonfarm payrolls report is a sign that the US Federal Reserve's interest rate hike cycle is over. momentum and the fact that gold remains near $2,000 an ounce even as the safe-haven push is weakening.
OANDA:XAUUSDLong
by FalCol_TradingMaster
NZDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity NZDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
20
Gold Prices Navigate Uncertainty Dollar Rates and GeopoliticsGold prices, represented as XAU/USD, started the new week on a weaker note, extending the decline that began on Friday from the $2,004 level, which marked a multi-day high. This initial rise was in response to softer jobs data from the United States (US). A slight increase in US Treasury bond yields helped alleviate some of the bearish pressure on the US Dollar (USD) and had an impact on the precious metal. Additionally, a generally positive tone in the equity markets pushed the safe-haven commodity below the $1,985 level during the Asian trading session. However, it's important to note that there are growing expectations that the Federal Reserve (Fed) will keep things unchanged in December and may not raise interest rates any further, which could limit the upside potential for the USD. This, in turn, might offer some support to gold, which is considered a non-yielding asset. Moreover, the ongoing risk of an escalation in the Israel-Hamas conflict is another factor that may prevent a significant decline in XAU/USD. Therefore, it might be wise to wait for strong sustained selling pressure before considering a substantial correction from the year-to-date peak reached on October 27. The US Dollar is making a modest recovery from a six-week low it hit on Friday, thanks to a decent increase in US Treasury bond yields. This, in turn, is contributing to the downward pressure on gold. However, the prevailing market sentiment is that the Federal Reserve won't raise rates again, especially given the softer US macroeconomic data released on Friday. For instance, the non-farm payroll (NFP) report showed that the US added 150,000 jobs in October, falling short of the estimated 180,000 and revised down from the originally reported 336,000 for the previous month. The US ISM Non-Manufacturing PMI also dropped to a five-month low of 51.8 in October, reinforcing expectations that the Fed will maintain its current stance at the December policy meeting. On the geopolitical front, there's ongoing tension in the Israel-Hamas conflict, with Israel rejecting calls for a ceasefire and intensifying military operations against Hamas in Gaza. This situation continues to influence the dynamics of gold prices. From a technical perspective, any further decline in gold prices may find support around the $1,980 level, followed by the previous week's high near $1,970. If there's a continued downward trend, the price of gold may face additional pressure, potentially dropping towards the $1,964 area, with the next significant support in the $1,954-1,953 range. Conversely, if gold prices rebound, the $2,000 mark could serve as an immediate resistance level, followed by the Friday swing high around $2,004, and the year-to-date peak near $2,009. If gold manages to break through this resistance, it could potentially head towards the $2,022 resistance zone.
TVC:GOLDLong
by sabellaFX
GBPJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity GBPJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
4
GOLD - After the nonfarm news, will gold rise again?On the world gold market, the spot gold price at yesterday's session in the US increased by 7.1 USD to 1,992.2 USD/ounce. In the Asian session this morning, gold price reversed and dropped to 1,987.1 USD/ounce. Gold should have exceeded $2,000 but that did not happen. So I think that will cause gold to lose a little bit of momentum. Gold has surged due to inflation, Middle East geopolitics and its inverse correlation with interest rates. But then interest rates have come down significantly because inflation is starting to come down a bit. Additionally, the stock market is starting to move higher, so flows into precious metals may be dampened.
TVC:GOLDShort
by FalCol_TradingMaster
GOLD - Gold selling strategyGold price on Kitco closed last week's trading session at 1,992 USD/ounce. Investors' worries about the Israel-Hamas conflict still exist, but that cannot help gold prices surpass the threshold of 2,000 USD/ounce. It is because the gold price cannot surpass this important threshold that has caused market psychology to become cautious. Some analysts believe that gold prices are being hindered by the price level of 2,000 USD/ounce. If gold prices are consolidated in the near future, the precious metal price may soar to a new all-time high. Commodity analysts say that geopolitical factors are having a major impact on gold and that as concerns subside, the precious metal's safe-haven appeal will be reduced. According to Tastylive.com expert Christopher Vecchio, safe haven purchasing power thanks to the geopolitical crisis is being depleted. While geopolitical conflict can provide trading impetus for gold, it does not have a long-term effect.
TVC:GOLDLong
by FalCol_TradingMaster
Gold trading strategy at the beginning of the week November 6Many experts predict that the fall in gold prices is due to profit-taking pressure when last week the precious metal increased by 5%. Two weeks ago, the US and European economies released economic growth reports, in which GDP growth in the US increased more than twice the forecast. As a result, US Government bond yields have increased sharply. The 10-year US Government bond yield at 6:40 a.m. this morning increased sharply by 0.79% to 4.593%/year. The Dollar-Index measuring the strength of the USD in a basket of 6 major currencies also increased 0.06% to 105,080 points at the same time. Along with the positive economic reports published in the US and Europe two weeks ago, it is forecast that retail sales in the US will increase sharply in the last two months of the year when a series of events such as Black Friday and Christmas are held. , welcoming the new year takes place. To welcome the above events, businesses will organize discounts and promotions to attract customers to shop. This will positively impact production and business activities, promoting economic growth. Experts say that the US economy will continue to recover strongly in the last months of the year, thereby putting pressure on gold prices. Meanwhile, the factor supporting gold is that geopolitical tensions in the Middle East are weakening as countries and United Nations organizations are finding ways to get relevant parties to implement a ceasefire in the Gaza Strip.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Trading strategy before Nonfarm newsWorld gold prices this morning were stable with spot gold increasing by 2.6 USD to 1,985.1 USD/ounce. Gold futures last traded at 1,993.7 USD/ounce, up 6.2 USD from yesterday morning. World gold is relatively stable although the labor market shows signs of decline. A recent report from the US Department of Labor showed that the number of US workers applying for unemployment benefits for the first time increased more than expected. Specifically, the number of weekly applications for unemployment benefits increased to 217,000 in the week ending October 28, an increase of 5,000 applications compared to the previous week's adjusted level of 210,000. Economists forecast unemployment claims will stay around 210,000. According to experts, gold does not react much to weak employment data because the market is still paying attention to the recent policy decisions and stance of the US Federal Reserve (Fed). Carlo Alberto De Casa, market analyst at Kinesis Money, said that bullion prices need to more or less consolidate a bit before continuing to rise as the long-term view remains positive. As analysts expected, the Fed kept interest rates steady on Wednesday, as policymakers work to determine whether financial conditions are tight enough to keep inflation in check. . According to CME Group's FedWatch Tool, traders are currently assessing an 80% chance that the Fed will pause interest rate hikes in December.
OANDA:XAUUSDLong
by FalCol_TradingMaster
The fall has not stopped as the Fed prioritizes reducing inflatiOn January 11, the US policy-making basis, the Fed, was completed in early November. This agency decided to maintain the USD operating interest rate at a 22-year high of 5.25%. ,5 years. This basis was put in place to determine the likelihood of a report on the US chief economist. Specifically, the Fed said economic activity increased sharply in the third quarter of 2023, with a likely increase of 4.9%, expanding with certainty. The job market is stable and positive when the number of new jobs created in the non-agricultural sector in September reached 336,000 jobs, double the forecast level of 170,000 jobs. Every American has 1.5 job openings. This is consistent with the US economy accepting high interest rates but still growing well. The Fed's announcement this time, in addition to keeping interest rates high for a long time, also contained a message of financial tightening. Specifically, the Fed said "finance and credit are in a tight state". This can be understood that the Fed and the US's basic strategies not only use monetary policy but still have the main fundamental economic tool at the present time to ensure safety.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold Price Stays Below 2000 Amid Dollar Rate Hike UncertaintyGold price experienced significant volatility on Wednesday as they initially moved closer to the $2,000 threshold ahead of the Federal Reserve's policy announcements. This surge was accompanied by the US Dollar's hesitant recovery, coupled with subdued US Treasury bond yields and a mixed market sentiment. However, there was a reversal in gold prices as they briefly dipped to around $1,970 immediately following the Fed's widely anticipated decision to keep the key policy rate within the existing range of 5.25%-5.50%. The pivotal moment came during Fed Chair Jerome Powell's press conference and his responses to questions. Powell's comments had a substantial impact, causing a sharp decline in the US Dollar and US Treasury bond yields and triggering a strong recovery in the price of gold. While Powell did not entirely rule out the possibility of another interest rate hike, the markets interpreted his words as less hawkish than expected. He acknowledged factors like tighter financial conditions, a robust job market, a resilient economy, and elevated inflation levels. The drop in US Treasury bond yields was also influenced by a quarterly Treasury announcement, indicating a slowdown in the expansion of its longer-dated auctions. The increase in 10-year Treasury bond auctions was $2 billion, falling short of the market's $3 billion expectations. This led to a decline of over 20 basis points (bps) in the benchmark 10-year Treasury bond yield, which reached its lowest point in over two weeks at 4.7089%. Furthermore, the US Dollar faced headwinds due to mixed economic data. The US ADP private sector payrolls for October showed an increase of 113,000, below the estimated 130,000. The US ISM Manufacturing Purchasing Managers' Index (PMI) for October dropped to 46.7, falling short of the expected 49.0. Additionally, the Job Openings and Labor Turnover Summary (JOLTS) report revealed that the number of job openings on the last business day of September slightly rose to 9.55 million, up from a revised 9.50 million in August and surpassing the forecast of 9.25 million. As for Thursday's trading, the price of gold is building upon its previous recovery. Investors are carefully considering the future path of interest rates set by the Federal Reserve, with expectations for rate hikes in December and January being scaled back. Some market participants are even beginning to price in the possibility of Fed rate cuts as early as June next year. The ongoing global stock market rally led by the Fed's policies is expected to continue weighing on the safe-haven US Dollar. This trend persists as traders shift their focus away from events such as the Hamas-Israel conflict in anticipation of Friday's release of US Nonfarm Payrolls data. In addition to these factors, gold traders are also keeping a close eye on the monetary policy decision of the Bank of England (BoE), scheduled for later in the day. The key interest rate is expected to remain unchanged at 5.25% for the second consecutive meeting. A dovish stance from the BoE is likely to boost stocks further while exerting downward pressure on the Pound Sterling, which, in turn, could alleviate some of the stress on the US Dollar. Nevertheless, the price of gold continues to hold upside potential, supported by its daily technical setup.
OANDA:XAUUSDShort
by sabellaFX
1
GOLD - Gold trading strategyMany experts predict that the US economy may fall into recession this year due to the rapid pace of interest rate increases. However, the world's largest economy is surprisingly strong. In its statement, the Fed emphasized that the US economy was still growing strongly in the third quarter, the unemployment rate was low and the banking system was resilient. This has strengthened the possibility that the US will achieve a "soft landing" as the Fed is curbing inflation without harming the economy. Although the Fed left interest rates unchanged after its monetary policy meeting, Fed Chairman Jerome Powell said it was unclear whether the committee was done raising rates. The world's most powerful central bank president also added that the committee remains focused on bringing inflation down to its 2% target. Some experts assess that although the Fed maintains its tightening trend, that stance is not "hawkish" enough to worry the gold market as prices keep high levels below 2,000 USD/ounce. Although the Fed is still pursuing a "hawkish" policy, it is not enough to spook the market, said Edward Moya, senior market analyst at OANDA. This expert further noted that concerns related to the Israel-Hamas conflict may have more impact on gold than the Fed's monetary policies.
TVC:GOLDLong
by FalCol_TradingMaster
After a sharp decline, does Gold have a chance to recover?World gold ended October with the largest monthly increase since November 2022 thanks to safe-haven buying due to concerns surrounding the Israel-Hamas conflict. In the last trading session of the month, the gold market was quiet as investors showed caution ahead of the US Federal Reserve's (Fed) policy meeting taking place on Wednesday (US time). Commenting on the upcoming monetary meeting, experts say that Fed Chairman Jerome Powell may continue the old scenario that all Fed interest rate decisions will depend on economic data. Kelvin Wong, senior market analyst for Asia Pacific at OANDA, said the Fed would leave open the possibility of raising interest rates again in December. Looking back at gold's movements over the past month, spot gold hit its lowest level in 7 months at 1,809.50 USD/ounce on October 6, 1 day before the Israel-Hamas conflict broke out. However, safe-haven buying amid continuing tensions in the Middle East helped the precious metal rise 8% on the month. However, some say gold could lose its safe-haven appeal as the world gradually adapts to developments in the Middle East. In fact, concerns about geopolitical instability cannot help gold maintain the $2,000/ounce level as the market once again returns to the Fed's monetary policy supporting USD strength. and bond yields.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GOLD - Waiting for information from the Fed, gold declinedPrecious metal prices declined ahead of the US Federal Reserve's (Fed) monetary policy meeting. Commenting on the upcoming monetary meeting, experts say that Fed Chairman Jerome Powell may continue the old scenario that all Fed interest rate decisions will depend on economic data. Kelvin Wong, senior market analyst for Asia Pacific at OANDA, said that the Fed will leave open the possibility of another interest rate increase in December. However, some say that gold may lose its safe-haven appeal as the world gradually adapts to developments in the Middle East. In fact, concerns about geopolitical instability cannot help gold maintain the $2,000/ounce level when the market once again returns to the Fed's monetary policy, which is supporting the strength of the USD. and bond yields. Precious metal prices declined ahead of the US Federal Reserve's (Fed) monetary policy meeting. Commenting on the upcoming monetary meeting, experts say that Fed Chairman Jerome Powell may continue the old scenario that all Fed interest rate decisions will depend on economic data. Kelvin Wong, senior market analyst for Asia Pacific at OANDA, said that the Fed will leave open the possibility of another interest rate increase in December. However, some say that gold may lose its safe-haven appeal as the world gradually adapts to developments in the Middle East. In fact, concerns about geopolitical instability cannot help gold maintain the $2,000/ounce level when the market once again returns to the Fed's monetary policy, which is supporting the strength of the USD. and bond yields.
TVC:GOLDLong
by FalCol_TradingMaster
Ride the Wave of Yen Drop Against Dollar As you may already know, the Japanese Yen has been experiencing a significant drop against the US Dollar due to the Bank of Japan's (BOJ) strategic move of buying bonds to curb the rising yield. This development has created a highly favorable environment for traders looking to long USDJPY and capitalize on this exciting trend. The BOJ's proactive measures to slow down the rising yield have effectively weakened the Yen, creating an ideal scenario for traders seeking to profit from the currency pair's movement. This drop opens up a window of opportunity for those who are ready to take advantage of the situation and potentially reap substantial rewards. Now, you might be wondering, "How can I seize this opportunity and maximize my profits?" Well, the answer lies in considering a long position on USDJPY! By going long on this currency pair, you position yourself to benefit from the Yen's decline against the Dollar. This trade could potentially yield remarkable returns if timed correctly. So, what are you waiting for? Don't miss out on this thrilling chance to ride the wave of the Yen's drop against the Dollar! Take action now and consider opening a position to long USDJPY. With careful analysis, a well-executed strategy, and the right timing, you could be on your way to securing substantial profits. Remember, timing is crucial in the world of trading, and this opportunity might not last forever. Stay ahead of the curve and make the most of the current market conditions. Embrace the excitement, seize the moment, and let your trading skills shine! If you require any further information or assistance in making the most of this opportunity, please do not hesitate to reach out to our expert team. We are here to support you every step of the way. Wishing you an exhilarating trading experience and remarkable success!
Long
by bryandowningqln