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GC1! (Gold Futures)

GOLD corrects in 2 days, still has bullish conditions next weekOANDA:XAUUSD fell as the USD held steady at its highest level in more than 2 weeks. However, the market expects the Federal Reserve will still cut interest rates next week and gold prices still have conditions for a possible increase in price. OANDA:XAUUSD has broken multiple record highs this year, supported by Fed monetary policy, strong central bank buying and safe-haven demand. Traders currently assess a 96% chance that the Fed will cut interest rates by 25 basis points at its December 17-18 meeting. Focus will also be on Chairman Jerome Powell's comments as market participants analyze US monetary policy in 2025, especially given President-elect Donald Trump's tariff plans , is very likely to add to inflation. Central banks often keep interest rates high to curb inflation, thereby increasing the opportunity cost of holding unprofitable gold. Pay special attention to the upcoming Fed interest rate decision The Fed's monetary policy statement next week could be the last major impact for gold this year outside of unforeseen geopolitical surprises. Next Wednesday, the Federal Reserve will announce its monetary policy decision after a two-day policy meeting. The Fed is expected to cut its policy rate by 25 basis points to a range of 4.25%-4.5%. The Fed will also release a revised Summary of Economic Projections (SEP), known as a Dotplot chart. In September, SEP showed that Fed officials' median forecast for the policy rate at the end of 2025 was 3.4%. If the 2025 interest rate forecast is revised downward, i.e. cutting interest rates by more than 100 basis points, it could have a direct negative impact on the Dollar and this would push gold prices higher. Markets will also be closely watching comments from Federal Reserve Chairman Jerome Powell. If Powell takes a cautious approach to further policy easing, emphasizing a gradual approach, the dollar is likely to remain strong as it remains supported by President-elect Donald Trump. On the other hand, the US Dollar will come under selling pressure if Powell expresses growing concerns about the cooling labor market and its potential negative impact on the growth outlook. Data next week Next Thursday, the US Bureau of Economic Analysis will release the final revised data on gross domestic product (GDP) for the third quarter, and next Friday will release the personal consumption expenditures price index (PCE). The economic calendar needs attention next week Monday: Empire State manufacturing survey, S&P flash PMI Tuesday: US retail sales Wednesday: Federal Reserve monetary policy decision Thursday: Bank of England monetary policy decision; US weekly unemployment claims; US Q3 GDP, Philly Federal Reserve Manufacturing Survey, Existing Home Sales Friday: Personal consumption expenditure index (PCE) Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold closed the week in a crucial position for upside as it still has bullish conditions. Specifically, the daily chart still shows that gold prices maintain activity above EMA21 and above the technical level of 2,644 USD. Note to readers in the previous edition. In addition, the Relative Strength Index decreased but stayed above 50, which does not show any negative signals. In the near term, if gold brings price activity back above the 0.50% Fibonacci retracement level, it will have the conditions to recover more to the $2,676 level in the short term, more than the 0.382% Fibonacci level and the original price point. 2,700 USD. Overall, gold still has a bullish outlook. However, a negative situation is likely to appear once gold breaks below the 0.618% Fibonacci level because it will tend to retest the 0.786% Fibonacci level with a price point of 2,591USD. Therefore, open long positions will need to be protected when this situation occurs. In the coming time, the technical chart of gold prices will be noticed by some notable patterns as follows. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,676 – 2,693USD SELL XAUUSD PRICE 2680 - 2678⚡️ ↠↠ Stoploss 2684 →Take Profit 1 2673 ↨ →Take Profit 2 2668 BUY XAUUSD PRICE 2621 - 2623⚡️ ↠↠ Stoploss 2617 →Take Profit 1 2628 ↨ →Take Profit 2 2633
OANDA:XAUUSD
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 16 - Dec 20]At the beginning of this week, OANDA:XAUUSD quite strongly from 2,627 USD/oz to 2,726 USD/oz, but then dropped sharply to 2,645 USD/oz and closed the week at 2,648 USD/oz. The reason why international gold prices increased sharply in the first sessions of this week was because investors reacted to the fact that the People's Bank of China (PBoC) returned to buying 5 tons of gold in November after many months of temporarily stopping buying. reserve gold. Even with the six-month hiatus, the PBoC bought 34 tons of gold this year and remains one of the top central banks buying gold in 2024. However, gold currently accounts for less than 6% of China's total foreign exchange reserves. This shows that the PBoC's room to continue buying gold reserves is still very large, especially when US-China tensions are increasingly escalating when President-elect Donald Trump threatens to impose very high tariffs on China. However, after rising to 2,726 USD/oz earlier this week, gold prices once again fell sharply because US inflation remained persistent, affecting expectations of the FED's monetary easing cycle. While the decision on FED monetary policy will receive more attention next Wednesday, the gold market will also receive important economic data that can impact the FED's monetary easing cycle, such as retail sales, revised third quarter GDP of the US... 📌Technically, the gold price still maintains an uptrend on the Daily technical chart, as the price is still above the EMA89 moving average. However, on the H4 chart, the movement of the moving average shows that the price is accumulating sideways, the resistance area to pay attention to is around the 2725 mark, while the important support zone is around the round resistance mark of 2600. In the coming week Many influential information can cause gold prices to fluctuate strongly beyond this sideways range. Notable technical levels are listed below. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,676 – 2,693USD SELL XAUUSD PRICE 2751 - 2749⚡️ ↠↠ Stoploss 2755 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575
OANDA:XAUUSD
by Xayah_trading
GOLD → False breakout and negative fundamental backgroundFX:XAUUSD is correcting after a false breakout of resistance. This is also supported by negative fundamentals. Will there be a pullback or will the decline continue? Optimism over China's economic stimulus is waning amid growing fears of a trade war between the US and China. Expectations of a hawkish Fed interest rate next week helped boost the US dollar, leading to a corrective decline in the gold price.Markets now believe the Fed may send a hawkish signal by signaling a pause in January after PPI came in higher than expected Technically gold is still inside the channel, consolidation continues. Focus on 2658-2660 support, below which there is a huge pool of liquidity that may not let the price down on the first try Resistance levels: 2675, 2682, 2699 Support levels: 2658, 2636 From the support 2658 may form a correction from which will depend on the further development of events: if the correction will be small and the price will quickly return to 2658, it will increase the chances of support breakout and further fall, for example, to 2636. But, if gold can consolidate above 2682 and consolidate above the local high, the price may head for a retest of the high Regards R. Linda!
FX:XAUUSDShort
by RLinda
1
GOLD → False breakout of resistance. Is a correction coming?FX:XAUUSD on the background of CPI on Thursday passes into a rally and realization of consolidation. The price is testing the resistance of 2721 and forms a false breakout. Traders in anticipation of PPI After the release of CPI, there is a 90% chance that the Fed will cut rates by 0.25% next week. Gold hit a two-week high due to the Middle East, optimism over China's economic stimulus, CPI news. PPI and weekly jobless claims data also remain in focus, which could provide new hints on further Fed policy easing and the direction of the US dollar ahead of next week's Fed meeting. Sentiment around the Fed and risk trends will continue to play a decisive role in gold price dynamics. Technically, the price is in a global wide flat. A false breakdown of resistance is forming and a correction may form. Resistance levels: 2721 Support levels: 2700, 2682 The retest did not allow the bulls to pass through the resistance. In the near future the price may test the nearest support and form a bullish correction from which further growth or fall will be initiated. We should also take into account today's news Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
GOLD corrects, possibility remains optimistic as FOMC is comingOANDA:XAUUSD eased the correction significantly, which was partly due to the market taking profits after gold prices hit a five-week high and rushing to close positions ahead of next week's Federal Reserve meeting. In addition, higher US bond interest rates also affect gold prices. OANDA:XAUUSD fell sharply on Thursday and was limited this trading day (Friday), as of press time, as traders booked profits following the release of US PPI data. PPI data exceeded expectations, suggesting the fight against inflation may be stalling. In addition, the 10-year US Treasury bond interest rate increased slightly by 1.5 basis points to 4.289%, which also put pressure on gold. The US producer price index (PPI) rose higher than expected in November due to soaring food costs. The U.S. Department of Labor reported on Thursday that the U.S. PPI rose 3% year-on-year and 0.4% month-on-month in November. Previous market expectations were 2% .6% and 0.2%. Although Wednesday's US Consumer Price Index (CPI) was in line with expectations, it still rose at a seven-month high. However, gold is expected to hold onto gains this week as optimism grows that the Federal Reserve could cut interest rates by 25 basis points next week. Traders' attention is turning to the prospect that the Federal Reserve may pause policy easing as early as 2025. Lower borrowing costs typically benefit gold because gold itself does not create out yield. According to a report released by the World Gold Council (WGC) on Thursday, gold's gains are expected to slow in 2025 as concerns about growth and inflation during Donald Trump's presidency have can affect the ability to increase the price of gold. Gold prices have risen more than 30% year-to-date and are on track for their biggest annual gain since 1979. The rapid rise has been fueled by the Federal Reserve's easing policy, demand safe-haven demand and continued buying activity by global central banks. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has corrected but overall it still has all the conditions for a technical upside with price activity outside the channel and above the EMA21 level. Currently, gold's uptrend is temporarily limited by resistance at $2,693, the 0.382% Fibonacci retracement price point, more than the 0.236% Fibonacci level noticed by previous readers. On the other hand, the Relative Strength Index also maintains activity above the 50 level, which should be considered a positive signal for the bullish outlook in the near future. As long as gold remains above the EMA21 and outside the price channel, in the short term it is still likely to increase with notable points listed below. Support: 2,676 – 2,663 – 2,644USD Resistance: 2,693 – 2,700 – 2,730USD SELL XAUUSD PRICE 2706 - 2704⚡️ ↠↠ Stoploss 2710 →Take Profit 1 2699 ↨ →Take Profit 2 2694 BUY XAUUSD PRICE 2659 - 2661⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2666 ↨ →Take Profit 2 2671
OANDA:XAUUSD
by Xayah_trading
Interest rate expectations and geopolitics still drive GOLDOANDA:XAUUSD corrected after rising sharply as the possibility of the Federal Reserve cutting interest rates next week increased significantly after the release of US CPI data. CME Group's "FedWatch" tool shows traders see a 98.5% chance the Fed will cut another 25 basis points at its December 17-18 meeting, a significant increase from the 86% chance before CPI data is released. The U.S. Bureau of Labor Statistics reported Wednesday that the Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in November, both in line with market expectations. Economists surveyed by Dow Jones previously expected this number to increase an average of 0.3% month-on-month and 2.7% year-on-year. Excluding food and energy costs, the US core CPI rose 3.3% year-on-year in November and was up 0.3% month-over-month. Economists surveyed by Dow Jones on average expect core CPI to rise 0.3% month-on-month and 3.3% year-over-year. The market is now focusing on today's (Thursday) US Producer Price Index (PPI) data to shed more light on the Federal Reserve's interest rate cut roadmap. Geopolitical news once again boosted OANDA:XAUUSD On the daily chart, gold corrected after approaching the 0.236% Fibonacci retracement level and temporary upside was limited by this technical level. However, in terms of overall structure, the gold price has enough technical conditions to increase after breaking the falling price channel and bringing the main activity above the EMA21 line. Along with that, the Relative Strength Index also rose above 50, which should be considered a positive signal for the bullish outlook of gold prices. On the other hand, gold is likely to open a new bullish cycle when it breaks above the $2,730 level of the 0.236% Fibonacci retracement then the target is the Volume profile POC point, more so the $2,761 level and all-time highs. era established earlier. During the day, the technical outlook for gold is bullish with notable points listed below. Support: 2,700 – 2,693 – 2,676USD Resistance: 2,730 – 2,742 – 2,761USD SELL XAUUSD PRICE 2741 - 2739⚡️ ↠↠ Stoploss 2745 →Take Profit 1 2734 ↨ →Take Profit 2 2729 BUY XAUUSD PRICE 2669 - 2671⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2676 ↨ →Take Profit 2 2681
OANDA:XAUUSDLong
by Xayah_trading
GOLD just passed $2,700, pay attention to CPI dataWednesday (December 11) on the Asian market, OANDA:XAUUSD Spot delivery increased again in the short term. Gold price has just surpassed the important milestone of 2,700 USD/ounce, reaching the highest level of the day as of the time this article was completed at 2,703.65 USD/ounce. Attention is turning to the US consumer price index (CPI) today (Wednesday) and the producer price index (PPI) on Thursday, both data will be important in influencing the Federal Reserve's decision to cut interest rates. According to market surveys, the US Consumer Price Index (CPI) is expected to increase 0.3% in November, with year-on-year increases expected to be 2.7% and 3.3%, respectively. %. Overall and core producer prices in the United States are expected to increase 0.2% month-on-month in November, with year-over-year increases of 2.6% and 3.2%, respectively. CPI data in line with expectations is unlikely to hinder interest rate cuts, but if the data shows inflation progress is slowing, the likelihood of a third consecutive rate cut by the Fed may decrease. The Chicago Mercantile Exchange's "FedWatch Tool" shows that the futures market expects an 86% chance that Fed Chairman Powell and his colleagues will cut the federal funds rate by 25 basis points at their meeting on August 17-18. /12. In addition, gold prices also skyrocketed when the Chinese central bank resumed gold purchasing activities. Meanwhile, the geopolitical situation plays an important role and still has many potential risks after Syrian President Bashar al-Assad was overthrown. Gold is considered a safe investment during times of economic and geopolitical uncertainty and tends to appreciate in low interest rate environments. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has initial conditions for a bullish outlook as it broke out of the falling price channel after a long period of sideways accumulation. On the other hand, the Relative Strength Index also rose above the 50 level, which should be considered a positive signal for the future growth prospects as it will move towards the 75-100 area. With that, EMA21 which was the previous resistance has now become the most notable support. Gold prices are pushed above the original price level of 2,700 USD, keeping price activity above the 0.382% Fibonacci retracement level will provide conditions for a new bull cycle with the target then around 2,730 USD where the Fibonacci retracement is located. 0.236%, more than the Volume Profile POC level. During the day, gold has all the technical conditions to increase in price and is temporarily limited by the original price of 2,700 USD. The notable points will be listed as follows. Support: 2,693 – 2,676 – 2,663USD Resistance: 2,700 – 2,730USD SELL XAUUSD PRICE 2721 - 2719⚡️ ↠↠ Stoploss 2725 →Take Profit 1 2714 ↨ →Take Profit 2 2709 BUY XAUUSD PRICE 2659 - 2661⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2666 ↨ →Take Profit 2 2671
OANDA:XAUUSDLong
by Xayah_trading
1
GOLD → Retest 2720. CPI ahead, what to expect?FX:XAUUSD is coming out of a long consolidation and testing 2688. Bulls are trying to keep the defense above this zone, but the risks are increased by the publication of CPI... Gold was boosted by the escalation of the conflict in the Middle East and renewed buying of gold reserves by China. Amid looming tariffs announced by Trump and weakening labor market conditions, the US inflation report will be crucial in determining the Fed's easing trajectory in the coming months. Further upside for gold prices hinges on the release of US CPI data, which is likely to set the pace for US Fed action early next year. Technically, gold is heading towards broad range resistance as well as the 2720 liquidity zone. The chances of reaching the target are high, but a sharp approach and high news volatility could trigger a false breakout. Resistance levels: 2705, 2720 Support levels: 2688, 2675, 2658 The CPI data may trigger both a rise in the dollar and a deep correction, depending on the interpretation of the current US economy. Gold may react accordingly, but it all depends on the actual data. Regards R. Linda!
FX:XAUUSD
by RLinda
24
GOLD → Breaking through channel resistance. Growth attemptGOLD is coming out of the channel. Bulls are trying to take the situation into their own hands and keep the defense above 2665. The metal has a chance for local return and growth to 2690 - 2720. Growing geopolitical tension in the Middle East (Syrian government collapse) compensates local growth of the dollar, which is generally favorable for the metal. But, risks of dollar growth remain on the background of inflation growth in the U.S., which in general can strengthen the hawkish position of the Fed policy makers on the interest rate. At the moment all attention is focused on CPI / PPI. Profit-taking is possible due to high risks. Gold is coming out of the local channel, but is still trapped inside the global channel. Price may test the zone of interest before important economic data. Support levels: 2660, 2655, 2636 Resistance levels: 2673, 2688, 2721 The breakout took place and the metal is trying to go up. The target is 2688. But we should be careful, because geopolitical tensions, upcoming economic data may cause corrections and profit taking Regards R. Linda!
FX:XAUUSDShort
by RLinda
10
GOLD increased in the short term, approaching an important levelOn the Asian market, OANDA:XAUUSD Spot delivery suddenly increased sharply in the short term. Gold price is once again close to the edge of the price channel, a relatively "dangerous" position for technical bearish expectations. Currently the increase is about 7 USD during the day and gold is trading at 2,667 USD/oz as of the time this article was completed. OANDA:XAUUSD spiked on Monday, mainly due to the People's Bank of China resuming gold purchases after a six-month pause and significantly increasing market expectations that the Federal Reserve will cut interest rates next week , further promoting optimism. Heavy central bank buying has been one of the main drivers pushing gold prices to new highs this year, along with monetary policy easing and geopolitical tensions. CME Group's "FedWatch Tool" shows an 87% chance the Fed will cut interest rates by 25 basis points next week, up from just under 70% last week. Zero-coupon gold performs strongly in low interest rate environments and often attracts investors during times of political and economic uncertainty. Analysis of technical prospects for OANDA:XAUUSD The current position of the technical price of gold in general has not broken the bearish outlook with the price channel still holding strong, however, gold also has initial conditions for the possibility of price increase. With EMA21 now the closest support having been broken above yesterday's trading session. Meanwhile, the RSI Relative Strength Index is also trying to move above the 50 level. The fact that the RSI can maintain operations above the 50 level is considered a positive signal for the bullish outlook. During the day, the technical outlook for gold prices is still quite neutral as it is not completely tilted towards a specific trend, with the price channel still being the current main trend. In case the price channel is broken on gold there is a slight upward trend with the target then around 2,693 USD the price point of the 0.382% Fibonacci retracement, more than the original price of 2,700 USD. Along with the above analysis, notable points will be listed as follows. Support: 2,663 – 2,644 – 2,634USD Resistance: 2,676 – 2,693 – 2,700USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2644 - 2646⚡️ ↠↠ Stoploss 2640 →Take Profit 1 2651 ↨ →Take Profit 2 2656
OANDA:XAUUSD
by Xayah_trading
GOLD → Resistance Retest. False breakthrough?FX:XAUUSD lingers inside the consolidation and channel 2660 - 2615. Technically, speculators are confused. The fundamental background is mixed. What's next? Focus on the escalating conflict in Syria, which has led to the overthrow of the Assad government and the end of the long-running Civil War. Risks regarding the Middle East are still quite high despite the ceasefire between Israel and Lebanon. Fundamentally, despite Friday's better than expected NFP, markets are 80% likely to expect a 0.25% Fed interest rate cut. In the week ahead, all eyes are on economic data such as CPI and PPI. Technically, I don't see any reason for the price to break out of this consolidation. Accordingly, I expect a false breakout with a high degree of probability. Resistance levels: 2655, 2660, 2667 Support levels: 2636, 2615 The price has passed 0.85% since the opening of the session. There are no reasons for the resistance breakout. There is also no potential for a breakout. Accordingly, based on the available data, there is a high probability of a decline from the key resistance zone. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
27
XAUUSD consolidating awaiting the bullish break-out.Gold (XAUUSD) has been trading within a Channel Up pattern, with its most recent Higher Low being priced on the 1D MA100 (green trend-line). Since November 25, it has been stuck in range within the 1D MA100 and the 1D MA50 (blue trend-line). As pre the RSI, this is a consolidation before the bullish break-out that will confirm the new Bullish Leg. A similar RSI consolidation around its MA trend-line was last seen during Gold's last Higher Low formation (June 07 - 27). The break-outs Target was Resistance 1, so that is our Target again (2790). If however for any reason the price closes a 1D candle below the 1D MA100, we will be quick to take the small loss and on the counter go short, targeting the 1D MA200 (orange trend-line) at 2500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
1
All Stars Aligned: Bitcoin, Gold, Fiat, and DebtThis post explores the idea that Bitcoin, often referred to as "digital gold," might one day replace gold as the preferred store of value. Gold’s price (shown in yellow) has traditionally been sensitive to inflation, which is influenced by money printing, as indicated by the US M2 money supply (shown in white on the chart). Geopolitical and economic insecurity also drives demand for gold, the "safe-haven" metal. To add further context, I've also included US debt (shown in red). The chart reveals that the market seems to have found some form of equilibrium at current levels, with gold’s price finally tracking the M2 money supply and debt parameters closely. Interestingly, Bitcoin (shown in orange) has mirrored this behavior in a similar fast-paced manner. Around the $3,000 mark for gold and near $100,000 for Bitcoin, both assets are aligning with the money supply and debt trends. This suggests that any further price increases could be limited unless additional money is printed or debt increases. Of course, a Black Swan event could disrupt this equilibrium at any time. I also used TradingView’s Correlation Coefficient tool to examine the relationship between Bitcoin and gold. The correlation is impressively high at 0.87, indicating an almost perfect alignment between the two assets. The chart supports the idea that Bitcoin is tracking gold closely, strengthening the notion that Bitcoin could indeed be positioning itself as the "digital gold" of the future. Let me know your thoughts in the comments below!
CRYPTO:BTCUSDEducation
by aibek
Ending a sideway week, pay attention to CPI dataDuring the Asian trading session on Monday (December 9), OANDA:XAUUSD Spot delivery rose significantly then fell back, with gold prices hitting an intraday high of $2,650.62/ounce on the Asian market. Gold prices have now dropped and are trading at 2,636 USD/ounce. Bloomberg reported that China's central bank increased its gold reserves for the first time in seven months and that the rapid collapse of the Syrian government further undermined stability in the Middle East. These two factors boosted gold prices on Monday but of course it only had a very short-term impact. The People's Bank of China released data on December 7 showing that China's gold reserves at the end of November 2024 were 72.96 million ounces and at the end of October were 72.8 million ounces. As of April this year, China's central bank had increased its gold reserves for 18 consecutive months, helping support rising gold prices. However, the Chinese central bank's purchases (about 5 tons) are relatively small compared to monthly purchases since the beginning of this year. Traders watched developments in Syria over the weekend after President Bashar al-Assad fled as rebels took control of the capital Damascus. The United States struck dozens of Islamic State targets in central Syria on Sunday, as President Joe Biden warned that Assad's fall could lead to a resurgence of Islamic extremism. Analysis of technical prospects for OANDA:XAUUSD Although gold has had a week of stable price fluctuations with mostly sideways accumulation, in general on the daily chart it still moves with the main trend leaning towards the possibility of price decline. With the main trend being noticed by price channel and pressure from EMA21 along with the 0.50% Fibonacci retracement level and horizontal resistance of 2,644USD in the short term. On the other hand, the relative strength index (RSI) is moving sideways below the 50 level, which can be considered a negative signal for gold technically. In the near term, if gold takes its price action below the 0.618% Fibonacci retracement level, it could fall a bit further to $2,606 – $2,600 in the short term. Additionally, a new bearish cycle is likely to be opened once the $2,600 raw price level is broken below, confirmed by price activity below the 0.786% Fibonacci level followed by a target of around $2,538. As long as gold remains within the price channel, below the EMA21 and below the 0.50% Fibonacci retracement, it remains bearish on the daily chart, and the highlights are listed below. Support: 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2589 - 2591⚡️ ↠↠ Stoploss 2585 →Take Profit 1 2596 ↨ →Take Profit 2 2601
OANDA:XAUUSDShort
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 09 - Dec 13]Last week, international OANDA:XAUUSD almost went sideways in a range from 2,613 - 2,657 USD/oz. The US economy created 227,000 jobs in November, slightly surpassing economists' forecasts. At the same time, wages increased faster than expected. However, the unemployment rate increased again to 4.2%. However, these data show that the US labor market has been tending to recover, creating momentum for the FED to consider delaying interest rate cuts in the context of higher inflation, especially is when Mr. Trump is about to take office as President of the United States. Thus, there may not be much room for gold prices to increase because the FED cuts interest rates. Therefore, gold prices will need additional catalysts from geopolitical factors, central banks increasing gold purchases, etc. Short-term gold prices in general and next week's gold prices in particular will still be in a state of tension between concerns about escalating geopolitical tensions and Mr. Trump's strong tariff measures, causing US Treasury bond yields to increase. , creating strength for the USD and limiting the rise in gold prices. 📌Technically, on the H4 chart, we can see that the moving average ema89 is moving sideways, the gold price continues to accumulate sideways in a narrow range. Accordingly, the resistance level to pay attention to is around the 2720 mark, the support level to pay attention to is around the 2535 mark. Gold prices will create a clear trend when breaking through these two resistance levels. Notable technical levels are listed below. Support: 2,600 – 2,606USD Resistance: 2,663 – 2,644USD SELL XAUUSD PRICE 2721 - 2719⚡️ ↠↠ Stoploss 2725 BUY XAUUSD PRICE 2534 - 2536⚡️ ↠↠ Stoploss 2530
OANDA:XAUUSD
by Xayah_trading
GOLD increases and decreases in opposite directionsThe world gold price listed on Kitco is at 2,633 USD/ounce, up 3 USD/ounce compared to early yesterday morning. Gold futures last traded at 2,654.6 USD/ounce, down 0.5 USD compared to yesterday morning. Gold prices fluctuated slightly on Friday (December 6), marking the second consecutive week of decline. The precious metal has lost about 0.5% of its value this week, after hitting its lowest level since November 26 in early trading. During the day, gold prices barely reacted to the jobs data expected last week. The latest report shows that although job growth remains fairly stable, signs of weakness have begun to appear in the US labor market. According to the US Bureau of Labor Statistics, 227,000 new jobs were created last month, far exceeding experts' expectations. However, the unemployment rate increased to 4.2%, higher than 4.1% last month. Economists predict this ratio will remain unchanged. Although job growth remains strong, economists say the latest data will not stop the US Federal Reserve (Fed) from cutting interest rates by 25 basis points at its upcoming meeting. However, some analysts note that the Fed's easing cycle could run into trouble if job growth extends into 2025. Gold prices may test the support level of 2,550 USD/ounce and the resistance level of 2,700 USD/ounce in December 2024. The trend in the next few weeks is that gold prices may decrease due to profit-taking activities. Regarding the medium-term trend, the support level of gold prices remains firm, but it is unlikely that there will be a strong breakthrough in the upward direction in the near future. Gold prices benefit from lower yields, continued rising geopolitical risks and uncertainty surrounding future policy implementation and global impact under the Trump administration.
OANDA:XAUUSD
by Xayah_trading
GOLD → NFP may release price from consolidationFX:XAUUSD declines to 2615 and forms a false breakdown. Traders are confused as they wait for NFP and are not preparing for premature action yet, waiting for economic data... The dollar is having some trouble indicating it is ready to enter a deeper correction phase, but now it all depends on NFP and the Fed. Metal is still squeezed inside the 2660 - 2615 flat. A false break of the support forms a pullback to the liquidity sides If the NFP is below the expected 200K, the gold may go up, as it will indicate the continued cooling of the US labor market and encourage the Fed to cut rates further. But, strong NFP data could put pressure on the decision to pause the Fed's interest rate cut cycle, which could put negative pressure on the metal.... Resistance levels: 2655, 2660 Support levels: 2636, 2605 Technically, the NFP may influence the price to leave the channel, which may be accompanied by a strong impulse. The price direction depends on the immediate actual employment data.... A break of resistance will trigger a rise to 2690 A break of support will trigger a fall to 2580 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
GOLD dropped and recovered quickly, new news from Korea, NFPOn the Asian market on Friday (December 6), OANDA:XAUUSD Spot delivery suddenly increased sharply in the short term. Gold prices have increased sharply from an intraday low of nearly 2,613 USD/ounce and are currently trading around 2,643 USD/ounce, close to the technical level of 2,644 USD. There was news that South Korea might impose martial law for a second time, which quickly increased market risk aversion and stimulated a sharp increase in gold prices. According to the latest report from Yonhap News Agency on Friday, South Korea's opposition parties may seek to hold an impeachment vote on President Yun Xiyue at 5 p.m. local time on Saturday. South Korean media JTBC reported on Friday that the Military Human Rights Center held an emergency press conference at its office in Mapo district, Seoul in the morning, following the instructions of superiors, commanders The squadron commander's superiors could convene an emergency press conference before the 8th. The Military Human Rights Center emphasized that this was Yoon Seok-yue's Sign that martial law would be reintroduced. South Korean President Yoon Seok-yue suddenly declared martial law on the evening of December 3, with the reason of eliminating pro-North Korean forces and protecting constitutional order. The South Korean National Assembly voted late at night to pass a resolution to "remove martial law", and Yoon Seok-yue finally announced that he would "remove martial law". However, there are rumors that senior South Korean military officials have been asked to be on standby until December 8. This is something the market is eyeing as a sign that Yin Xiyue will declare martial law again. In a headline on Friday, Yonhap news agency quoted the South Korean opposition party as saying lawmakers were on standby after receiving multiple reports of martial law being declared again. Gold is considered a leading haven asset when the market receives risky impacts from geopolitical developments (especially in places closely related to the US). On this trading day, investors will receive the release of the US non-farm payrolls report, which is expected to cause major fluctuations in the gold market. US nonfarm payrolls jobs are expected to increase by 195,000 in November. Gold could rebound stronger on more disappointing jobs data, and come under some pressure ahead of the tabular data Non-farm wages are optimistic. Today (Friday), the United States will release the November nonfarm payrolls report. Surveys expected 200,000 new jobs were added, but only 12,000 jobs were added in October, the lowest increase since December 2020. The US unemployment rate is expected to increase slightly to 4.2% in November, from 4.1% in October. Additionally, average hourly wages in the US are expected to increase 0.3%. month-over-month in November. Annual wage growth will likely slow from 4% to 3.9%. A report released by the US Bureau of Labor Statistics on Tuesday showed that the number of job vacancies in the United States increased again in October and the number of layoffs decreased, indicating market demand for workers are stable. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold fell but fell short of its weekly target of $2,606 – $2,600 sent to readers in the weekly edition, it rose rapidly to retest the 2,644 technical level. USD. Temporarily, gold's recovery does not give it enough conditions to increase in price as the Relative Strength Index is still operating below 50. Along with that, the EMA21 is the closest resistance currently and as long as gold has not broken the price channel, it still has the main trend during this time which is down. Once again gold falls below the 0.618% Fibonacci retracement level which will be the best condition to head towards the weekly target area at 2,606 – 2,600USD. Meanwhile, expectations of a new bearish cycle will be opened once gold falls below the original price of 2,600 USD with the target then around 2,591 USD in the short term, more than 2,538 USD. During the day, the technical outlook for gold remains bearish with notable points listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,644 – 2,657 – 2,663USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2584 - 2586⚡️ ↠↠ Stoploss 2580 →Take Profit 1 2591 ↨ →Take Profit 2 2596
OANDA:XAUUSDShort
by Xayah_trading
XAUUSD (1h) buy signal inside a Rectangle.Gold is neutral on the (1h) timeframe, trading sideways inside a Rectangle (Resistance 1 and Support 1). The price almost hit Support (1) for the 3rd time since Nov 26th and is a technical buy signal. Each of those times it rose to at least the 0.618 Fibonacci level. Trading Plan: 1. Buy on the current market price. Targets: 1. 2649 (the 0.618 Fibonacci retracement level). Tips: 1. The RSI (1h) almost turned oversold (below 30.00). The previous two times that happened, it was a technical buy signal as well. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSDLong
by TradingBrokersView
GOLD → Consolidation before a strong movement. But where to?FX:XAUUSD continues to consolidate and we have questionable preconditions that indicate both a possible fall (fundamental background) and growth (technical background). Gold is holding back after Fed Chairman Powell's speech: The US economy is in remarkably good shape.We are moving very quickly with rates. "I am very pleased with where monetary policy is right now" Unemployment is still very low and progress is being made in fighting inflation The focus remains on the jobless claims data and NFP at this time Technically, the focus is on consolidation in a locally rising channel format. A price exit from the channel in either direction may be accompanied by a strong impulse. Resistance levels: 2655, 2660, 2688 Support levels: 2636, 2620, 2605 Two scenarios due to mixed and stalemate situation: black: Powell commented on the situation as strong enough for the US market, accordingly, gold is forming a consolidation in a flag format, which is technically a pattern for a continuation of the fall. blue: On D1 there are prerequisites for local growth. If the price breaks 2655, then 2660, the growth may continue to the zone of interest 2688. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
15