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Goldidea

World market turns down, trading strategyWorld gold prices are still attractive when the world's second largest economy is still facing difficulties in economic recovery. Data on China's manufacturing PMI index in December decreased from 49.4 points in November to 49 points in December, lower than the forecast level of 49.5 points. This is the third consecutive month that China's manufacturing PMI index has declined. Along with that, on January 5, China's giant asset management group Zhongzhi Enterprise Group, with assets of more than 140 billion USD, filed for bankruptcy because it could not pay its debts. This unit said there is about 66 billion USD in its balance sheet that cannot be paid. Zhongzhi is likened to an underground bank in China, mobilizing capital from households to lend or invest in real estate, stocks, bonds and commodities. It is expected that the amount recovered from the liquidation of this group's assets will be low. Thus, the Chinese economy is still having difficulty solving the problem of inactivity in the real estate and valuable paper investment sectors. Previously, in 2021, investors witnessed Evergrande's debt default. . It is forecasted that Country Garden will have a stronger influence than Evergrande because the number of projects is many times larger. Many people compare Zhongzhi to a "debt bomb" in the financial market. Increased risks in the financial market will cause investors to turn to gold speculation to ensure capital flows. However, the market also witnessed quite positive information from the US economy. Specifically, the new December employment data announced by the US is quite positive with 216,000 new jobs created in the non-agricultural sector, higher than the 173,000 jobs achieved last month and the 170,000 jobs previously forecast. Average hourly income (year/year) increased from 4% in November to 4.1% in December and higher than the 3.9% forecast. The unemployment rate in the US in December remained at 3.7%. ISM's manufacturing PMI index also increased from 46.7 points in November to 47.4 points in December 2023. Although this index is below the 50 expansion level, the increasing trend of this index shows that the US economy is recovering. Positive signals from the US economy and the rising USD put pressure on the gold market, causing world gold prices to decline at the beginning of this morning's session. Experts and investors said , gold prices will trade around the range from 2,000 - 2,050 USD/ounce before the market receives new economic information.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold decreased but the upward momentum remained sustainableHello dear friends, do you think the price of gold will increase or decrease in the near future? Generally, the main trend of gold in the past week has been a decrease in price, with a decline of over $40 during the week. However, when looking at the long term with the 1-day chart, gold still maintains a strong upward trend with a steady rising trendline. Gold experienced a week of price decline as a corrective wave, testing the 34 ema line at $2045, and the upcoming prospects are expected to test the 89 ema line at around $2019. We can expect gold to bounce back from this point as it touches the trendline and finds support at that level (as marked on the chart). Karina still expects gold to continue setting record levels in 2024. What about you?
OANDA:XAUUSD
by Karina_Bella
Xauusd trend analysis for next week I think it's hard to predict gold prices next week. However, I propose the following two scenarios for gold prices: Analyzing the H4 timeframe, I found: Important key levels for next week are: 2035-2039 (bold areas) 1/ If this Keyleve area still holds the price, I think the price of gold will continue to rise and will rise to the starting point of the last wave of downtrend, which is this area: 2076-2079 (white arrow) 2/If this Keyleve area is broken, the gold price may fall to the starting point of the previous wave of rise, that is, this area: 2016-2019. There will be very important CPI news next Thursday, which may determine the trend of gold prices. I will update every working day with any in-depth analysis. Last week I almost perfectly judged the trend of gold and gave a good trading trend. After Friday's non-agricultural trading helped everyone avoid fluctuations, I successfully made profits under my trading strategy. I will actively update my thoughts. Like it. Everyone likes and gives me likes. If you need real-time analysis, you can join me.
FX:XAUUSD
by i2vi2v
XAUUSD Longs from 1990.0000 back upFollowing the recent interaction with my 6hr supply zone during the NFP event, I anticipate a further downward movement in price to clear the pool of liquidity below and eventually reach my Daily Demand zone. Once there, I'll be on the lookout for significant buying opportunities to support a continuation of the bullish trend. While I recognize it may take some time to reach that point, I'll promptly identify a new supply zone if price breaks the structure to the downside. This will become my new Point of Interest (POI) for potential counter-trend sells back down to the demand level Confluences for GOLD buys are as follows: - Bullish pressure weakens, evident in a CHOCH and confirmed by a BOS - A daily demand zone below triggered a break of structure to the upside. - The market trend is bullish, aligning with this idea. - Imbalance above the demand signals favourable reaction at my POI. - Abundant liquidity above, including trend lines and untouched Asian highs. - Price needs to dip to a significant demand level for an upward rally to persist. P.S.While my Point of Interest (POI) seems likely, I wouldn't be shocked if the price rises and retests the 6hr supply, reaching a new supply level located just above the old zone on the 4-hourly. In such a scenario, I anticipate a bearish reaction if the price decides to move upward to that area. Hope everyone has a profitable first month!
OANDA:XAUUSDLong
by Hassan_fx
🚀⤴️⤴️GOLD FULLBACK 2100)⏫️hello trader’s what do you think about gold) gold fullbacks support levels 2047) Gold if breakoutdown and this weekend looks better news CPI trader’s 2047) support levels and gold mowing fullback 2100)resistance levels)my position 2047) lounges 2100) key levels 2080 key levels 2090 key levels 2100 Gold finished the year at $2,063 an ounce, climbing more than 13% in 2023 for its first annual gain in three years, and logging a new record high within the year mostly supported by expectations that the major central banks will start cutting interest rates early next year. After implementing an aggressive rate-hiking cycle that started in early 2022, the US Federal Reserve is now expected to begin easing as soon as next March amid signs that inflation in the US is cooling. Moreover, heightened geopolitical tensions in the Middle East and the prospect of a prolonged war in Gaza spurred safe-haven demand for gold.
FOREXCOM:XAUUSDLong
by SMC-Trading-Point
Gold trading strategy today, continues to increase againWorld gold prices decreased slightly with spot gold down 5.3 USD to 2,058.7 USD/ounce. Gold futures last traded at 2,067.6 USD/ounce, down 4.2 USD compared to yesterday morning. The world gold market enters 2024 with a relatively difficult year under pressure from the strong recovery of the USD. However, the decline in this precious metal was limited thanks to expectations that the US Federal Reserve (Fed) would soon loosen monetary policy and concerns that the situation would escalate in the Red Sea. The US Dollar Index rose 0.8% and was on track for its best daily gain since July, making bullion priced in the currency more expensive for overseas buyers. In 2023, gold prices rose 13%, marking the first annual increase since 2020, and are forecast to reach a record high in 2024, as lower interest rates reduce the opportunity cost of Hold gold bars without interest. Experts say that the market started the new year with the belief that the Fed will cut interest rates sooner, which is why gold is supported. According to the CME FedWatch tool, markets are currently pricing in an 86% chance that the Fed will cut interest rates in March.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold continues to fall as expected, waiting for a recovery pointWorld gold prices reversed slightly this morning, with spot gold down 12.7 USD to 2,065 USD/ounce. Gold futures were listed at 2,075.8 USD/ounce, down 12.2 USD compared to yesterday morning. World gold prices decreased slightly after hitting a 3-week high when pressured by the recovery of the USD and rising bond yields. The US Dollar Index rose 0.2% after falling to a five-month low. Benchmark 10-year bond yields rebounded and exited their lowest level since July, denting the appeal of bullion. This expert predicts gold prices will be higher in the next 12 months thanks to weaker economic data and cooling inflation in the US forcing the Fed to cut interest rates. Currently, according to the CME FedWatch tool, investors are betting on an 88% chance that the Fed will cut interest rates as early as March.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Does gold have a chance to decrease slightly before the strong?World gold prices this morning continued to increase slightly with spot gold increasing by 10 USD to 2,077.7 USD/ounce. Gold futures were listed at 2,088 USD/ounce, up 9 USD compared to yesterday morning. The world gold market was quiet this morning due to the lack of data in the last week of 2023. Experts say that this precious metal is preparing for a prosperous new year with expectations from the Federal Reserve. The US (Fed) will cut interest rates in the first quarter of 2024, which are increasingly increasing. Gold was also slightly boosted by the weakening of the USD and bond yields. The US Dollar Index hit a five-month low and saw its first annual decline since 2020, making bullion more attractive to foreign buyers. Benchmark 10-year Treasury yields also hit their lowest level since July 24.+ Data released last week showing “cooling” inflation has boosted financial market expectations of a rate cut from the Fed next March, and according to the FedWatch tool, traders are now pricing around a 90% chance of this happening. Talking about gold's fluctuations in 2024, senior market strategist Bob Haberkorn of RJO Futures said that, entering the new year, the market is mainly focused on the story of falling interest rates and gold will be nothing but. price increase.
OANDA:XAUUSDLong
by FalCol_TradingMaster
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