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Gold and the direction of moving this weekGold price today is trading around US $ 2022 and is worth a significant recovery level since the last time it decreased to 2000 USD. From the chart, precious metals have escaped from the discount channel and conducted an increase, the price can recover up to 2037 USD and higher may be at $ 2055. However, the market information is still less optimistic about the possibility of the world gold price this week when gold continues to cope with the pressure of reduced from the possibility of the US Federal Reserve (Fed) holding interest rates higher than long longer than long. than. Most of the US economic data published in the past week showed that growth was still stable and inflation fell slower than forecast. Therefore, the market said that it was not until June that the Fed started to cut interest rates and the number of interest rates this year may not exceed 3 times. The new expectation of the interest rate of US Treasury bond yields and the USD exchange rate maintain an increase trend, putting pressure on gold.
OANDA:XAUUSD
by Antonia_Le
3
Gold price today: slight increaseWorld gold price listed on Kitco is at 1,942 USD/ounce, up 8 USD/ounce compared to the early hours of yesterday morning. December gold futures last traded at $1,976.1 an ounce, up $7.3. According to some market analysts, the gold market may be struggling to find traction as inflation remains a major concern and could force the US Federal Reserve (Fed) to continue raising prices. interest rates after summer. Naeem Aslam, chief investment officer at Zaye Capital Markets, forecasts the gold market will continue to struggle as the latest data shows no clear clues as to the path of the next Fed tightening. The market will have to wait for inflation data to be released next week. He said that traders can stay on the sidelines until there are signs that inflation is trending down significantly.
FX:XAUUSD
by SupperTrading-FX
5
Gold before the Fed's decision to raise interest ratesOn the world market, spot gold on Kitco 5/8 traded at 1,942 USD/ounce. Gold price is maintaining at an important resistance level, in the context of the US labor market falling in July, inflationary pressure is still present. ANZ analysts said that the Fed's actions related to the view of adjusting interest rates in the near future could limit gold's rally. Gold is a safe investment asset chosen by many during times of economic uncertainty and geopolitical tension. However, high interest rates negatively affect gold. The key near-term support for gold is around $1,925 an ounce, said Kelvin Wong, senior market analyst at financial brokerage Oanda. If gold falls below this threshold, gold will be able to touch $ 1,895 / ounce.
TVC:GOLD
by SupperTrading-FX
6
Gold price today: the precious metal is flatThe current world gold price on Kitco is 1,934.7 USD/ounce, down 10.9 USD/ounce compared to the previous session. Within just two trading sessions, the price has dropped by more than 23 USD/ounce. The gold market is facing challenges due to inflation, a strong labor market and strong economic activity, supporting the Federal Reserve's aggressive monetary policies. Daniel Pavillonis, senior market strategist at RJO Futures, explained that the strength of the US dollar is keeping gold prices below $2,000 an ounce. The US dollar gained strength as the International Monetary Fund (IMF) recently raised its forecast for global economic growth in 2023. The IMF now predicts global gross domestic product (GDP) to increase by 3 %, up from the previous forecast of 2.8%. .
FX:XAUUSD
by SupperTrading-FX
5
How does the world gold price change today?The global price of gold slightly dropped to $1,936 per ounce and has remained low for the past three weeks. Despite the US credit rating downgrade, the dollar continues to trade at its highest level in the past month, which has contributed to the decline in gold prices. Additionally, the 10-year US Treasury bond yield reached a nine-month high at 4.1360%. On August 3, the Bank of England raised interest rates by 25 basis points, reaching a 15-year high. Investors are currently awaiting the release of the US jobs report, which could impact the Federal Reserve's policy stance. Ryan McKay, a commodity strategist at TD Securities, emphasizes the significance of this data, particularly given the recent positive economic indicators in the US, which have influenced market sentiment and the possibility of the Fed maintaining higher interest rates for a longer period.
TVC:GOLD
by SupperTrading-FX
7
Gold trading strategy on February 27, 2023The dollar rallied to a seven-week high in the last session, after data showed US inflation continued to rise, while consumer spending rebounded in February, underpinning the outlook. Hope that the US Federal Reserve (Fed) will continue to aggressively raise interest rates to control inflation. Hotter-than-expected data helped the greenback continue to rally against other currencies, taking the DXY index to 105.20 - a 7-week high and on track to post its biggest weekly gain since from the end of September 2022. Money markets are now predicting the top US interest rate will hit 5.4% in July and expect it to stay above 5% for the full year, compared to the current target rate of 4. 5 - 4.75%. Markets have also priced the Fed will raise rates three times over the next three meetings. At the opposite end of the spectrum, the euro fell 0.5% against the greenback at $1.054. Earlier in the session, it fell to a seven-week low of $1.0536. The British pound fell 0.68% against the greenback, at $1.1938. Meanwhile, the dollar rose to a two-month high against the Japanese yen of 136.44 yen. Trading recommendation: Support level: 1,800.30 1,797.45 1,782.90 Resistance levels: 1,834.00 1,845.99 1,860.00 Trading recommendation: Buy soup at the price range 1809 - 1808 Stop Loss: 1803 Take profit 1: 1823 Take profit 2:1830 Take profit 3: 1835 Note: Always set TP and SL in all trading cases
OANDA:XAUUSDLong
by DNAchampions