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The market is now paying attention to some US producer pricesWorld gold prices reversed and decreased slightly with spot gold down 5.9 USD to 2,511.8 USD/ounce. Gold futures last traded at $2,540.30 an ounce, down $5.60 from the bright spot. Expectations for an interest rate cut at next week's main meeting decreased somewhat after the consumer price report put upward pressure on gold, causing the precious metal to lose 0.2% on the day. Accordingly, the latest report found that consumer prices in the US increased slightly in August, but underlying utilization remained stable, which may make the US Federal Reserve (Fed) unable to decided to reduce 50 basis points next week. 💎 OANDA:XAUUSD Buy 2485 - 2487💎 ✔️TP1: 2500 ✔️TP2: 2510 ✔️TP3: OPEN 🚫SL: 2480 💎 OANDA:XAUUSD Sell 2522 - 2525💎 ✔️TP1: 2510 ✔️TP2: 2500 ✔️TP3: OPEN 🚫SL: 2533
OANDA:XAUUSD
by FalCol_TradingMaster
Gold Price Rises Due to CPI and FedAmidst volatile global financial markets, gold prices have recently shown a slight increase, mainly due to a series of important economic and political news. Investors’ attention has been focused on key economic indicators such as the US Consumer Price Index (CPI), which is closely watched as it can directly influence the Federal Reserve’s monetary policy decisions. A stronger-than-expected CPI growth is typically a sign of rising inflation, which could prompt the Fed to raise interest rates to curb inflation. However, in the current environment, any significant increase in CPI could be seen as an opportunity for the Fed to cut rates rather than raise them, given concerns about a global economic slowdown and current political uncertainties. A rate cut would reduce the opportunity cost of holding non-yielding gold, boosting gold prices. Gold is often seen as a safe investment in times of uncertainty and inflation, when the value of other financial assets may decline. Recent stock market volatility and political instability in many parts of the world have also contributed to the rise in the value of gold as a safe haven asset.
OANDA:XAUUSD
by Naoomi
Gold is sideways before the newsAt the end of the week, the world gold price traded around 2,497 USD/ounce, with strong fluctuations during the week but not out of control of investors. In particular, the US employment report put great pressure on the market. The gold price is trading below the EMA 89 moving average but above the EMA 34, indicating an unclear trend and needs further observation. The EMA 34 can temporarily support the price, while the EMA 89 is a strong resistance level. On the daily chart, gold has formed a "sideways" pattern over the past month, reflecting the market's hesitation before economic data and the Fed's monetary policy. The current major support level is 2,480 USD/ounce and the resistance level is 2,520 USD/ounce.
OANDA:XAUUSD
by Naoomi
2
Gold prices are more unpredictable than everThe first week of September culminated in the US jobs report for August. Non-farm payrolls for the US economy increased by 142,000 jobs, up from 114,000 in July, although weaker than the market median estimate of 160,000 (Reuters). US Treasury yields and the US dollar (USD) fell on the news; markets also priced in a 120 basis point cut by the end of the year and nearly 40 basis points for this month's meeting. Average hourly earnings also rose sharply in August, up +0.4% (MoM), improving on the market period (+0.3%) and the +0.2% increase from the previous release in July. YoY, average hourly earnings rose +3.8% YoY in August, also improving on both the favorable data (+3.7%) and the previous data (+3.6%). With the economy now balanced and on track to grow at 2%, it is now time to ease the policy setting regime by reducing the target range for the federal funds rate,' he said, but did not comment on whether he would support a 25 or 50 basis point cut.
OANDA:XAUUSD
by FalCol_TradingMaster
Gold is overhyped ? Nonfarm 9/6/2024Gold's risks this week will be the ADP jobs and unemployment claims report and the nonfarm payrolls report. StoneX analyst Rhona O'Connell said bullion was also under pressure from weak global equities. However, O'Connell believes that the precious metal price trend is still upward and these losses are only corrective. This year, gold has had an impressive performance and is up more than 20%. On August 20, this precious metal reached an all-time high of 2,531.6 USD/ounce. Kinesis Money market analyst Mike Ingram has raised his forecast for the yellow metal's resistance above $2,510 an ounce, and he expects the price to break the $2,543 an ounce mark soon. Talking about gold fluctuations in the near future, Natixis precious metals analyst Bernard Dahdah predicts that gold prices will average about 2,600 USD/ounce by 2025. With stable domestic gold prices and world gold prices listed at Kitco at 2,496.4 USD/ounce (equivalent to nearly 75.2 million VND/tael if converted at VCB exchange rate, excluding taxes and fees) , the difference between domestic gold and world gold is huge. Price is about 5.8 million VND/tael.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Banks buying gold slows down gold price declineWorld gold prices move sideways amid strong USD index. Recorded at 9:20 a.m. on September 4, the US Dollar Index measuring the greenback's fluctuations against 6 major currencies was at 101,607 points. According to Kitco, in the first sessions of the week, world gold prices fell sharply, causing investors to panic right before a busy week with US economic reports. Central financial institution gold purchases doubled in July. Global valuable banks delivered 37 tonnes to their reputable reserves, a 206% increase. "In total, seven valuable banks delivered extra gold (a tonne or extra) to their reserves in July. Only one valuable financial institution decreased its holdings" 💎 OANDA:XAUUSD Buy 2481 - 2479💎 🔰TP1: 2490 🔰TP2: 2500 🔰TP3: OPEN 🚫SL: 2471 💎 OANDA:XAUUSD Sell 2498 - 2500💎 🔰TP1: 2490 🔰TP2: 2480 🔰TP3: OPEN 🚫SL: 2508
OANDA:XAUUSDShort
by FalCol_TradingMaster
The market is expecting the US to reduce interest rates.World gold costs improved no matter the quantity of USD recovered. Recorded at 9:forty five a.m. on August 28, the United States Dollar Index measuring the fluctuation of the dollar with 6 principal currencies changed into at 100,575 points (up 0.12%). The new rate of gold discussion board improved amid enhancing person sentiment. The US client self belief index in August painted an positive picture, growing to 134.four from 133.1 in July. The catalyst for the weak spot of the USD/ounce may also originate from the cease of June whilst worries started to shape across the US Federal Reserve`s (FED) cappotential to pivot to normalizing hobby rates. . This sentiment changed into bolstered via way of means of Fed Chairman Jerome Powell's current speech on the Economic Symposium in Jackson Hole, Wyoming. Those who spot Powell's overall performance certainly verify that the technology of sturdy hobby gains, which started in March 2022, is over, with the primary bearish take advantage of probably to take vicinity in September this year. ✅ OANDA:XAUUSD BUY 2504 - 2501💲 ➡️TP1: 2510 ➡️TP2: 2520 🚫SL: 2490 ✅ OANDA:XAUUSD SELL 2516 - 2519💲 ➡️TP1: 2500 ➡️TP2: 2490 🚫SL: 2530
OANDA:XAUUSD
by FalCol_TradingMaster
2
Low interest rate environments tend to boost gold's appealWorld gold prices increased slightly with spot gold increasing by 3.2 USD to 2,518.6 USD/ounce. Gold futures last traded at $2,553.90/ounce, up $4.30 from yesterday morning. World gold prices continue to maintain their recent record high thanks to support from the weakening of the USD and increased expectations that interest rates will be cut at the September meeting after the balance statement from Chairman of the US Federal Reserve (Fed) Jerome Powell. According to UBS analyst Giovanni Staunovo, Mr. Powell sent a strong signal about providing monetary policy at the end of the third quarter. The president of the most powerful central bank in the world is also strong, the speed and process of cuts will depend on the upcoming economic material. ✅ OANDA:XAUUSD SELL 2523 - 2528 ✔️TP1: 2515 ✔️TP2: 2500 💥TP3: OPEN 🚫SL: 2536 ✅ OANDA:XAUUSD BUY 2503 - 2500 ✔️TP1: 2515 ✔️TP2: 2530 💥TP3: OPEN 🚫SL: 2494
OANDA:XAUUSD
by FalCol_TradingMaster
The market is reacting too positively to interest rate cutsExperts are expecting that the unsure country of the worldwide economic system and the Fed`s pass to reduce hobby charges will push gold expenses to new file highs this year. Kitco News' trendy weekly gold survey has decided on many specialists and retail buyers who agree with that gold will hold to reinforce its new file. Mr. Alex Ebkarian, CEO of Allegiance Gold Company (USA), stated that with the expectancy of reducing hobby charges, the gold rate will growth to 2,six hundred USD/ounce. Sharing the equal opinion, Phillip Streible, Chief Market Strategist at Blue Line Futures, stated gold expenses may want to growth to a brand new rate of 2,six hundred USD/ounce earlier than the marketplace witnesses promoting stress to take profits.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Gold prices are standing still and waiting for results from FEDAfter completing the new history, gold easily becomes a time-limited investor. Not only that, gold prices at such a high level are difficult to attract new buyers to the market, also causing this commodity to decrease in price. Sharing the same opinion, Anuj Gupta - Head of Commodities and Currency at HDFC Securities - determined that the upward trend in gold prices is still there and the direction of the precious metal will depend on the main direction of the US Federal Reserve. (Fed). He believes that the speech of Fed Chairman Jerome Powell at the upcoming Jackson Hole congress will find a clearer picture of the monetary policy presentation of the Bank of America. Accordingly, if Mr. Powell shows concern about the balance between economic growth and deflation, this will strengthen the possibility of cutting interest rates. Conversely, if he is optimistic and does not offer a commitment instrument, the school may have to adjust its current expectations.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold price remained steady at 2500Gold costs have surged beyond report highs as a aggregate of upbeat US monetary reports, expectancies of Fed hobby charge cuts and growing tensions withinside the Middle East boosted demand. secure haven assets. Fears that Iran should retaliate towards Israel for current conflicts have heightened geopolitical tensions, and not using a enormous development in ceasefire negotiations. This uncertainty keeps to underpin gold`s rally, making it a key attention for traders looking for shelter amid worldwide uncertainty. Gold costs are buying and selling better whilst presently checking out resistance. MACD has illustrated growing bullish momentum. However, the RSI is at 68, suggesting the commodity should face a technical correction because the RSI enters oversold territory. Resistance levels: 2500.00, 2535.00 Support levels: 2465.00, 2445.00
OANDA:XAUUSDShort
by FalCol_TradingMaster
Expect a 25-point cut from the Fed's interest ratesWorld gold fees persevered to say no with spot gold down 17 USD to 2,448.2 USD/ounce. Gold futures final traded at $2,486 an ounce, up $18.eighty from the intense spot. A sharp growth in after-income interest at the start of the week persevered to place stress on gold, inflicting the valuable metallic to lose any other 1%. Besides, the document capitalized at the cutting-edge improvement that dampened marketplace optimism approximately a first-rate pivot at the following coverage assembly which additionally contributed to the decline in gold fees. According to a document with the aid of using the United States Department of Labor`s Bureau of Labor Statistics, the United States client fee index expanded 0.2% final month, after falling 0.1% in June. So, over the equal length final year, CPI rose 2.9%, then rose 3% in June. According to the FedWatch CME tool, after the CPI document turned into released, the chance that the Fed will reduce hobby costs with the aid of using 50 foundation factors on the September assembly has reduced to 41% from 50% previously.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Global considerations on goldNewly launched statistics remains moderate, with product fees in July withinside the US growing much less than expected. The present day problems keep to reinforce the opportunity of hobby price cuts on the FED`s subsequent fundamental list. According to the CME FedWatch tool, the marketplace is presently forecasting greater than 50% of hobby charges to lower through 50 foundation factors on the September coverage meeting. Historically, a low hobby price surroundings has continually tended to reinforce attractiveness. gold conductivity. Allegiance Gold CEO Alex Ebkarian stated that regardless of latest profit-taking, geopolitical tensions and volatility withinside the markets along side observations across the opportunity of hobby price cuts keep to offer The representative sought a secure haven.
TVC:GOLDShort
by FalCol_TradingMaster
World gold price increased sharply to 2,477 USD/ounceThe price of gold traded on the world market this afternoon, August 13, stood at 2,462.1 USD/ounce, down 11.8 USD/ounce compared to the morning session. Gold futures price was at 2,500.8 USD/ounce, down 8.3 USD/ounce compared to the morning session. Thus, with this morning's trading session, world gold decreased. Having received support for the gold price trend, some experts believe that the US Federal Reserve (FED) will provide monetary policy at the upcoming meeting, also supporting the price increase forum. of these precious metals. According to CME group's FedWatch interest rate tracking tool, the market is pricing in a 49% chance that the Fed will cut interest rates by 50 basis points next September. The current gold market goes up and down very quickly, making it difficult for traders to choose a direction in the short term, but experts still expect that gold will increase in price by the end of the year.
OANDA:XAUUSD
by FalCol_TradingMaster
Gold prices are likely to stand still this weekWorld gold prices decreased slightly as the USD index increased. Recorded at 11:00 a.m. on August 12, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 103,302 points (up 0.07%). After a week without important economic data, the world gold market this week will receive a series of information that can affect the direction of this precious metal in the short term. Including the number of manufactured products, consumption numbers, retail sales numbers in the US in July and weekly applications for continuous unemployment benefits and the number of US housing starts and construction permits in the US in July. July. Kitco News' latest Continuous Gold Survey shows most majors expect prices to be flat or up this week, while the majority of retail traders expect the yellow metal to rise.
OANDA:XAUUSD
by FalCol_TradingMaster