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Gold breaks the safe threshold and can increase sharplyWith gold now up for the fourth day in a row, it has allowed a nice bullish trend to develop on the 1-hour chart. The recent gains were accompanied by increased volume and tapered off as the price retraced. The price is currently trying to build support around the 10-day EMA and previous highs/double tops around $2024 and RSI (2) is oversold, so perhaps an inflection point is near. Also note that the RSI 14 is holding above the 50 level, which supports momentum for the overall trend. Bulls can look for dips targeting the $2036 ​​to $2040 area, near the weekly R1 pivot point and the monthly pivot point. A weaker US dollar and lower interest rates will be the ideal scenario for gold to extend its current upward momentum. However, I suspect the $2040 area could offer some resistance or retracement.
OANDA:XAUUSDLong
by MrTrongVo
Gold prices rise in Asian tradeAccording to Kitco, the world gold price recorded at 5:00 am today Vietnam spot time was 2,017,945 USD/ounce. Today's gold price is 4,715 USD/ounce different from yesterday's gold price. Gold prices rose in Asian trade extending a recovery to one-month lows after recently breaking below key support, despite worries of stabilizing a higher pace in the long term of America. The yellow metal briefly broke below $2,000 an ounce in early February, performing a stronger-than-expected U.S. spotting index that left traders largely bullish on the development. Hope for an early interest rate cut by the US Federal Reserve (FED). Although gold has rebounded above support, it remains largely within the $2,000-$2,050 per ounce trading range established since mid-January. The yellow metal has struggled to make progress in the face of America's difficult settlement and growing hawkish interest rates.
OANDA:XAUUSDShort
by MrTrongVo
2
Stronger growth, slower policy rate cutsStrong data leads to upgrades to growth projections for Canada and the US by 2024. Strong growth comes with discovery costs. Enjoying the easing of growth in the United States, stronger growth is leading us to push the first reduction into the third quarter of this year to reach a total cut intensity of 100 basis points. Stronger growth in Canada, strengthening wages combined with falling productivity and still-elevated fundamentals all suggest the Bank of Canada will delay cutting interest rates until the end of the third quarter. We now Expect only a 75 basis point cut this year. In both countries, growth dynamics and capacity detect that even these revised forecasts may be too optimistic about expected interest rate cuts. Further strength or delayed deflation may not result in any cuts this year. This is certainly not our expectation, but it is a bummer from our perspective.
OANDA:XAUUSDShort
by NicoTradingMaster
1
METAL Gold rose as Treasury yields fell following US GDP dataGold edged higher on Thursday as Treasury yields eased after US GDP data highlighted a softening in the pace of inflation, while focus turned to PCE data for further hints on taper strategy Federal Reserve interest rates. Benchmark 10-year Treasury yields fell after GDP data. The US economy grew faster than expected in the fourth quarter thanks to strong consumer spending, with full-year growth reaching 2.5%. “The economy is much hotter than expected, but at the same time, we have a situation where inflation is falling, so we are not should prepare for a sudden increase in interest rates." at TD Securities, said, adding that that is helping gold. Lower interest rates reduce the opportunity cost of holding bullion. According to CME FedWatch Tool, the market expects the Fed to leave interest rates unchanged at its policy meeting on January 30-31 and is expected to cut interest rates by 89% in May. Gold also received some support from a separate report showing initial claims for state unemployment benefits in the United States rose 25,000 to a seasonally adjusted 214,000 in the week ended January 20 .Economists had forecast 200,000 claims in the latest week.
OANDA:XAUUSDShort
by NicoTradingMaster
Taming inflation was still not enough to trigger a rate cut Taming inflation was still not enough to trigger a rate cut in March US five-year auction is tough, but Thursday's core PCE will be tame - what then? Potentially lower profits, but only temporary. The ECB takes center stage with Lagarde predicted to push back against an early cut. That might just mean avoiding speculation about timing altogether. What could be the bearish impetus if Lagarde disappoints the market The 10-year yield rose back above 4.15%. We still think it will reach the 4.25% region as expectations of a March rate cut continue to ease. But Thursday is the day with the biggest reason for yields to test the downside. Our view is that if core PCE comes in as expected, it faces some downside to yields, as it confirms a healthy reading (2% inflation). But it needs to be better than expected to negate our tactically fundamental bearish view. If not, then we will go higher again, even if that has to wait until next week. Regarding expectations of a first rate cut, prices have softened slightly from late last week with the likelihood of a first rate cut in April now around 70% from around 80%. In our view, that still looks high and is something that most analysts also expect the ECB to oppose in the press conference. At the same time, the market price for full easing this year has not changed much with a reduction of a little over 130 basis points.
OANDA:XAUUSD
by MrTrongVo
XAUUSD (Gold) Slightl bullish in trend but still not clear the wXAUUSD (Gold) Slightly bullish in trend, but still not clear on the way. The major level at the Gold tested was 2060 and gained more power from 2040 after last weekend's movements. Now, if the H1 closes above the 2050 zone, it will short-term push the price toward 2060. The price of the US dollar was also up from 102.097 and is trading at 102.459. Technically, we sell from the 2060 zone with 50 pips. Stop loss. Note: If China, Japan, and US armor sales and news of war get authentic, then gold will move its trend from bearish toward bullish movements. Keep an eye on the US index and other international channels for gold trading. If you see some price rejections from the 2060 or 2050 zone, then you must sell the gold, and the target level must be 2040, 2033, and 2020.
OANDA:XAUUSD
by Bloom_Forex_Official
Investors look carefully before CPIGold fell out of favor after rebounding slightly after Friday's NFP. This morning, the price briefly fell below $2,020, hitting its lowest level since December 18th. As a result, the precious metal remains in its previous range and is unlikely to gain popularity due to the recent rally in the dollar. But in the absence of a key US index until Thursday's release of the US Consumer Price Index (CPI), the dollar is likely to come under pressure again as it hits new lows. Key resistance levels for several major currency pairs. The US 10-year bond yield has also reached a key resistance zone, which could mean lower future yields and therefore a lower opportunity cost of holding gold compared to bonds. . But with the Fed and other central banks cutting interest rates several times this year, I have no doubts about the long-term bullish outlook for gold, whatever that may be. What can be done in the short term? Gold is trying to find support from around $2030 after briefly falling below this support level earlier in the day. Since the needle was unable to hold Friday's small gains, the shorter duration of the bullish trade here will want to find evidence and strengthen the clear signal to determine that the needle has reached a low. Before that while looking for ways to start buying. below the $2030 support level, which tracks the next key level at around $2000, a psychologically important level of support, followed by around $1950, roughly corresponding to the rising 200-day average, and that previous support level. The slope of the 200-day MA observationally indicates that the long-term trend is indeed bullish for gold. On the upside, the next target is around $2075, resistance from August 2020, which will remain a key area for gold. This metal cannot close shop in this sequence. If and when that happens, the December 2023 high of $2,146 will become the next focus.
OANDA:XAUUSD
by NicoTradingMaster
Gold welcomes the new year with high expectations from investorsThe gold market is poised to make history in 2024. The new year begins very close to new all-time highs. How high will gold go? Much depends on how low interest rates fall and how the US dollar depreciates. The Fed ended its interest rate hike campaign last fall. Monetary policy easing is expected later this year. If sustained inflationary pressures force central banks to keep interest rates high, we can expect declines in stock and bond markets, which could lead to at least a temporary decline in precious metals markets. Market volatility may also increase significantly around the end of the year presidential election. Large-scale gold, silver, copper, platinum and palladium mines are suffering from rising operating costs and dwindling reserves. As mine production reaches its ceiling, demand for metals continues to increase across industry, consumers, and investors.
OANDA:XAUUSDLong
by NicoTradingMaster
Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
Gold is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
TVC:GOLDShort
by carefulLion07pab
Gold at the end of the year has an unpredictable price trajectorThe world gold price closed the trading session at a high of 2,053.2 USD/ounce, the gold futures price for delivery in February 2024 on the Comex New York floor traded at 2,064 USD/ounce. Gold has just experienced a strong increase and ended at the highest price in about 2 weeks thanks to the weakening of the US Dollar index and falling US Treasury bond interest rates. At the same time, the main reason for gold's rapid increase is that falling inflationary pressure increases expectations that the US Federal Reserve (FED) will soon cut interest rates. Markets see a more than 80% chance of a rate cut as early as March for a total cut in 2024 of 150 basis points. In addition, in the third quarter economic growth reports of major countries in the world such as the UK, Japan, and China, there is a general decline, which will motivate the yellow metal to continue its momentum. increase sharply in the near future. According to forecasters, gold prices may increase in the short term. Colin Cieszynski, strategist at SIA Wealth Management, said that gold prices are expected to continue to increase in the near future, investors should see current price movements as a positive signal.
OANDA:XAUUSD
by FalCol_TradingMaster
Gold prices closed at high prices creating momentum for 2024This morning, global spot gold prices were at $2,053.2 per ounce and gold futures were at $2,064.5, as markets were still closed after Christmas. Last week, global gold prices registered a slight increase in the last trading session, but the $2,050 per ounce level remained a key resistance level that would be difficult for the precious metal to overcome. However, prominent commodity investor Dennis Gartman said that while stressing the increased risks following the recent sell-off in gold futures prices to an all-time high of more than $2,150 an ounce, He said prices could rise in the short term. Dennis Gartman remains bullish on gold, saying the precious metal is supported by security demand amid concerns about increasing geopolitical instability. While the US Federal Reserve's monetary policy will be the biggest driver of the gold market in 2023, demand for safe-haven assets is being driven by concerns about geopolitical instability, Gartman said. It is said that there is. Inflation risks in the near future will likely cast a shadow.
FXOPEN:XAUUSDShort
by NicoTradingMaster
GOLD: The gold price I expect today, December 21This is what we said before, once a trend has formed it cannot end anytime soon. The market no longer believes in the Fed's management of expectations anymore. Next year, the Federal Open Market Committee will have new members and then moderate officials will prevail. More data and time are needed to verify the resilience of inflation and the economy before changing policy. This Friday's core PEC and Q3 GDP data are crucial. The volatility pattern of gold prices will not change before. Regarding trading, gold price yesterday fell to a low of 2021 USD, followed by upward fluctuations. The US market reached a recent high of $2047, surpassing the top of our range. Our short selling strategy failed, causing a small loss before we exited the market. Gold trading was very strong yesterday and the short-term market was completely dominated by sentiment. Don't be too stubborn and have a clear mind.
TVC:GOLDShort
by NicoTradingMaster
GOLD: I'm looking forward to the gold trend today, December 20Yesterday, gold prices rebounded to around 2033.5 after falling to support around 2015. Profits from closing short positions at 2030 USD were minimal. Currently, market expectations of the Fed cutting interest rates are fluctuating. Next, gold prices will still be under pressure from the Fed's operating expectations. The advantages will be limited and the disadvantages will also be limited because interest rate cuts are the general trend. In the short term, gold prices will mainly fluctuate so we can buy low and sell high within key ranges. Today's gold trend I expect: Yesterday gold increased and still did not reach the old peak and key and it is still below the uptrend channel line of the daily frame, today I think gold will have another Gold may test the peak of 2048 if it surpasses 2048 then it will go up to 2051 or 2053 and then it will decrease and gold will start to move sideways, you should watch to sell in the 2051 to 2053 range.
TVC:GOLDShort
by NicoTradingMaster
Gold prices are set for weekly gains thanks to Fed rate cut betsGold prices eased slightly for Friday but remained on a weekly uptrend as the outlook for the U.S. Federal Reserve's fall in borrowing costs weighed on the dollar and Treasury bond gains, providing demand. for safe hidden assets. Spot gold XAU= was down 0.1% at $2,033.29 an ounce, as of 01:13 GMT. However, Li gold has increased by 1.5% this week. US GCcv1 gold futures rose 0.1% to $2,047.60. Gold prices eased slightly for Friday but remained on a weekly uptrend as the outlook for the U.S. Federal Reserve's fall in borrowing costs weighed on the dollar and Treasury bond gains, providing demand. for safe hidden assets. The Fed left interest rates unchanged on Wednesday and Chairman Jerome Powell said the historic tightening of monetary policy would likely end after talk of cutting borrowing costs “is under review.” ".
TVC:GOLDShort
by NicoTradingMaster
World gold price December 15, 2023World gold prices today continued to increase with spot gold increasing by 11.9 USD to 2,035.8 USD/ounce. Gold futures last traded at 2,050.9 USD/ounce, up 11.3 USD compared to yesterday morning. The Federal Reserve's signal that interest rates will fall in 2024 has created some good momentum in the gold market, and that should lead to record high prices in the new year, according to one market strategist. . In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors said that although gold prices have recently peaked, there is still plenty of room in the market to push prices higher. again. “As gold finds momentum, there is no telling how high the price can go,” he said. There is a very good chance we will hit an all-time high next year.”
OANDA:XAUUSDShort
by NicoTradingMaster