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Gold price bounces off, downside remains bets easeHere is what you need to know on Thursday, January 18: Technical Analysis: Gold price finds a temporary support near $2,000 Gold price attempts a firm-footing near psychological support at $2,000 amid a nominal decline in the US Dollar Index. The near-term demand for the precious metal has turned bearish as it has slipped below the 50-period Exponential Moving Average (EMA), which trades around $2,017. The higher-high-higher-low formation in the Gold price is over and market participants could utilize pullbacks for building fresh shorts. The 14-period Relative Strength Index (RSI) has dropped to near 40.00. If the RSI fails to sustain above 40.00 levels, a bearish momentum will get triggered. •Gold price discovers bets near $2,000 but remains on backfoot amid easing Fed rate cut hopes. •Stubborn US inflation and robust Retail Sales data favour a maintenance of hawkish interest rate stance. •Market participants will focus on Fed Bostic’s commentary ahead. Gold price (XAU/USD) has executed a short-term recovery move in the midst of a persistent downtrend. Gold price printed a fresh monthly low near the psychological support of $2,000 on Wednesday, then bounced. Yet despite the rebound, the precious metal remains on the backfoot as investors continue to worry about when the Federal Reserve (Fed) will start its long awaited rate-cut cycle. The hopes of an early rate-cut decision from the Fed are easing as the last leg of inflationary pressures in the United States is turning out significantly more stubborn than previously thought, due to robust consumer spending and steady labor market conditions. Amid an absence of front-line economic indicators, market participants are expected to shift focus towards the first monetary policy meeting of the Fed, which is scheduled for January 31. The Fed is widely anticipated to keep interest rates unchanged in the range of 5.25-5.50%. Investors will keenly focus on how the Fed proposes to make three rate cuts of 25 basis points (bps) each in 2024, as projected in the December monetary policy meeting. Daily Digest Market Movers: Gold price finds an interim support as US Dollar corrects •Gold price discovers an intermediate support near the psychological $2,000 level after an intense sell-off. •The near-term demand is still downbeat as uncertainty about an interest rate cut from the Federal Reserve in March has deepened. •Trades have pared bets supporting a rate cut in March due to resilience in the US economy. •Bets supporting an interest rate cut of 25-basis points (bps) have increased slightly to 61% but are still below the 75% recorded last week, as per the CME Fedwatch tool. •Market expectations for early cuts from the Fed have been pushed back as price pressures in the US economy remained stubborn and consumer spending grew strongly in December. •Upbeat economic indicators have provided room to Fed policymakers to maintain a restrictive monetary policy stance for a longer period than that anticipated by market participants before their release. •This week, Fed Governor Christopher Waller said the central bank should not rush taking interest rates down as more evidence is needed to ensure that price pressures are returning to 2% in a sustainable manner. •Christopher Waller advised that the Fed should reduce interest rates “carefully and methodically”, considering resilience in the US economy. •Meanwhile, the US Dollar Index (DXY) has rebounded after a gradual correction to near 103.20, supported by risk-off market sentiment. 10-year US Treasury yields are maintaining a firm-footing above 4%. •Later the day, investors will focus on the weekly jobless claims for the week ending December 12 and commentary from Federal Reserve of Atlanta Bank President Raphael Bostic. •Bostic is expected to maintain a hawkish argument considering stubbornly higher price pressures. •On Monday, Fed’s Bostic commented that progress in inflation declining towards 2% could slow if policymakers cut interest rates soon.
OANDA:XAUUSDShort
by sniper_2022
1
SSRM: Interesting valuation and chartSSR Mining has a very interesting setup here, both a quarterly and also a daily signal warrant a long entry here. If the quarterly signal pans out, initially we'd target $16.50 by Q4 2020, but eventually, this could make price trigger further quarterly confirmation for bulls, potentially pushing price to even higher levels, circa 28.31. Free cash flow is an important metric in the mining business, and in the case of $SSRM, it is at a very healthy levels relative to the market cap. This allows them to have sufficient leeway to pay workers (and avoid the problems with the work force South African miners had recently, for instance), expand into new projects and maintain their currently exploited mines, among others. Going back to the technicals at play, the current correction in the daily timeframe and reaction to quarterly support paves the way for a very high reward to risk long trade. There's a few different ways to decide on a stop loss distance and position sizing, but in general, for equities I try to give them enough room for the trade idea to pan out favorably, before being forced to bail on a trade or being stopped out prematurely. Best of luck, Ivan Labrie.
NASDAQ:SSRMLong
by IvanLabrie
Kinross Gold - 6:1 Long w/ Multiple ConfluencesThe weekly KGC price chart looks juicy for swing traders and position players, or anyone in search of quicker gold-correlated returns than the metal itself offers (+/- 25%). As always, I strive to render these ideas of mine so obviously that their explanation will require no words, and this forecast is no exception. My trading tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION. This chart was developed on the 1D frame and the entry was made on the hourly, and is here presented in the 1W version to accentuate the Trend Exhaustion Wedge w/in the Fib Space as fully as possible, albeit w/ some loss of detail. In fact, I generally prefer to trade on lower timeframes, so I execute swing trades like this one directly via my bank, in lieu of a savings account (which is NOT financial advice, by the way). Furthermore, a tighter Stop Loss at $4.71 (instead of the $4.64 shown here) offers a 9:1 Risk-to-Reward ratio. When it comes to most mining stocks, I tend to rely on pure price action based on tight line-work, with a minimum of indicators. Besides the obvious Harmonic W, a variety of patterns are on display here, including a descending Three Drives followed by an ascending version. The profit and retracement targets are passively based on Fibonacci ratios, and dynamically based on the VWAPs anchored at the C-point of the harmonic pattern. A volume profile is also anchored there, although it will become less valuable over time on the 1D chart, and is already invisible on hourly charts. One indicator worth noting, though, is the correlation histogram with First Majestic Silver; the periods of divergence should be especially interesting to lower timeframe prospectors. In fact, especially when I look at mining charts, I prefer to study their correlation either to the underlying asset or, better yet, to some other lesser-correlated asset in the same "genre". I will discuss both Kinross Gold and First Majestic Silver in forthcoming videos and streams on strategic and/or monetary metals. This will give you an opportunity to see what these charts look like on lower timeframes, and to ask questions. Until then, be liquid !!!
NYSE:KGCLong
by TheLeadingIndicator
2
Gold trend analysis The role of the Federal Reserve is to keep plundering global wealth, so the U.S. dollar must fluctuate at a high level, at least it cannot collapse and depreciate, so the interest rate hike is suspended, the balance sheet is still shrinking, and the high interest rate is still there. After yesterday’s decline in gold, the current pressure has moved down to the 1905 area. Basically, after breaking through 1940, the support in the densely traded area below is the 1865 position, of course there is a 1880 in the middle trading signal: sell 1898-1896 tp1888-1883 Share free trading signals every day, if you need, please join me
FX:XAUUSDShort
by Tony_barry
Minefield ⛏️💥The VanEck Junior Gold Miners ETF (ticker: GDXJ) has entered a certain minefield here. Our short-trade target zone has already been dealt with and the corresponding high of the turquoise wave (ii) was placed accordingly within said zone. We are now anticipating further impulsive sell-action in accordance with the general bearish trend. If the bulls want to start another comeback though, they should’nt be able to increase the price beyond our still active second sell zone (between $39.33 and $41.67).
AMEX:GDXJShort
by MarketIntel
Gold trading recommendations for The triple top on the gold weekly chart continues to suppress gold. The daily line is now a positive line, and it is not that kind of big positive line. For the time being, it can only be regarded as a rebound. This wave of gold daily market has gone through five waves of rise, and now it is a big C wave adjustment of ABC adjustment. Is wave C now over? The gold daily line has not even broken through the downward trend line, and the trend line resistance is around 1930. Before it effectively breaks through 1930, we will continue to look at the daily short line, during the decline of the big C wave. For the time being, gold can see signs of continued rebound in 1 hour, and there is an upward trend line support around 1910, but the daily downward trend line resistance is 1930, and 1930 is an area that has formed resistance many times in the early stage, and no effective upward reversal has been formed. So now 1930 is still very important in the short term. At the beginning of next week, you can sell high and buy low in the 1910-1930 range. Trading inevitably requires luck in some places and times, but in the long run, good luck and bad luck will balance out. If you want to last for a long time, you must rely on skills and use good principles. How far a person can go depends on who he walks with; how good a person is depends on what kind of friends he has around him; how much a person can achieve depends on who guides him. Trading strategy for next week: gold: sell@1930 tp:1910 buy@1910 tp:1930 Next, there will be a lot of trading opportunities for gold, and I will provide you with more signals, don't miss the opportunity to make money!
FOREXCOM:XAUUSDShort
by Kent_Garcia
1
Technical analysis of gold, how to operate the US market?Looking at gold on the daily line, the relative strength index (RSI) fell to 40, reflecting a bearish bias in the near-term outlook. Gold may face strong resistance at 1940, which is the confluence of the downtrend line and the 100-day moving average. Looking at gold from the 4-hour line, with the relative strength index (RSI) line at 14 recovering from the overbought area, gold prices are approaching the support line from a month ago. A looming bullish crossover on the moving average convergence and divergence (MACD) indicator added strength to gold's corrective rally. On the whole, it is recommended to rebound and short in the evening gold operation! Gold evening operation strategy: Empty order strategy: It is recommended to go short at 1932-1934, stop loss at 1941, and target around 1918; Multi-single strategy: It is recommended to go long at 1918-1916, stop loss at 1910, and target around 1930 Detailed daily trading signals can contact me to get! I wish you all a great and profitable new week
Short
by K-linesound
2
Gold will continue to fall with the trendThrough analysis on Thursday, it is emphasized that gold needs to see weak shocks under the pressure of 1940. The actual highest is at midnight on Wednesday at 1938, and the highest throughout the day is almost around 1933 Therefore, it is impossible to give an effective homeopathic trading space, and the strength of the U.S. unemployment data cannot change the temporary extremely weak state, and the lowest fell to around 1912. Therefore, this trend is very obvious, and gold is extremely weak and weak. So, in the absence of an obvious anti-strength performance, for the time being, gold will still be dominated by high altitudes. From a technical point of view, after this week's continuous decline, the daily line has continued to fall, and gradually broke the key support point. Brin has opened his mouth, which seems to have formed a weak unilateral. It may fall to the weekly low of 1830. Therefore, under the current circumstances, it is very important not to guess the bottom of the decline, and it is very important to follow the trend. The same is true for the H4 cycle. When Bollinger opened his mouth, the decline was along the 5-day and 10-day moving averages and out of the slow-falling space. Therefore, on Friday, we should also look at the moving averages to suppress the bearish. At the top, focus on the 1918 and 1925 highs. Wait for the adjustment to be completed, suppress the transaction at these two points, and focus on the low point of 1905 and the gains and losses at the 1900 full point below. But it is worth noting that if gold rebounds effectively today and stands above 1925, there may be room for adjustment and shock in the late trading. 6.23 Gold Strategy: Focus on 1925 from above and still go short if the pressure is not broken, stop loss 6 points, target 1910-1900 Long order is only recommended to try if it does not break 1900 If you often lose money in trading and often fail to grasp the trend, then I can help you very well, please contact me
FOREXCOM:XAUUSDShort
by K-linesound
2
Gold trading recommendations today The gold adjustment is coming to an end, a new downtrend is about to start, the rebound relies on the pressure of 1950 to short, and the waterfall is about to appear! For the trend of gold, from the weekly level to the hourly chart, it has been analyzed countless times! Weekly triple top, historical top! The daily line fell all the way down. Although the current short-term sideways, the rebound is weak, and the pressure above 1970 has not been able to break through! Yesterday was another downtrend! There are more signs that gold will continue to fall, and 1930 is by no means the current bottom! Trading straregy: gold: sell@1950 tp1:1945 tp2:1935 Next, there will be a lot of trading opportunities for gold, and I will provide you with more signals, don't miss the opportunity to make money!
FOREXCOM:XAUUSDShort
by Kent_Garcia
Gold trading recommendations today Gold rose directly with marginal support yesterday Looking at the 4-hour cycle, the price of gold is still below the trend line. On Friday, the price of gold touched the downward trend line, and gold plummeted even more, putting pressure on it. It is easy to see that gold is now in a oscillating trend, because the high and low points extend horizontally, and the gold price shuttles back and forth on the moving average, which has ruled out the unilateral trend, and now it is a oscillating trend. Based on this, I judge that the price of gold is in a volatile market in a downward trend. Sooner or later, gold will fall below and start a plunge mode. Trading straregy: gold: sell@1961 tp1:1951 tp2:1946 Next, there will be a lot of trading opportunities for gold, and I will provide you with more signals, don't miss the opportunity to make money!
FOREXCOM:XAUUSDShort
by Kent_Garcia
1
XAUUSD we see fast rejection 1982 2nd day reject 1983 market and initiating resistance means someone is resisting and initiating .in terms of candle stick all look same absorption it could be consolidation hence confusion lots of people use the words you know as through they mean the same thing ok they are not interchangeable words how ever consolidation is where the market moves into sideways ways patters you can call this support and resistance . market interaction that is taking place in you other words if we see the market go back but up comes this price point we see a substantial amount of volume transacted at the higher price know we see some one sell aggressively sell , we see buyers filled 1974 after rejecting multiple times tend to get a little bit of a continuation type flow momentum type flow higher test the range sometimes price is leading the move some times there are other factors this flow someone has to come in and do something in prices irrelevant sometimes there is volume and someone comes in and say well i need to execute a hundred thousand contract you get specific type of movement sometimes technical are relevant sometimes the fundamental relevant its important we have to navigate different areas all so important to note when your specific expertise you are effectively sometimes technical are relevant sometimes the fundamental relevant its important we have to navigate different areas all so important to note when your specific expertise you are effectively . each 45min rotation we see each shift relative more aggressive we can see shift in dynamic we see absorption 1982 1980 sofa block less volume 1881 multiple times hit sellers aggressive to sell in that level volume was sustain in that level little bit lower bid up initiate selling they continue to initiate and continue initiate and continue to initiate . all the way to low of the day. hope fully it paints a picture for you.
OANDA:XAUUSD
by YODA-TRADER
Gold trading recommendations today Gold rebounded but 1950, continue to be short The current decline of gold is still the same, the rebound is not under pressure, and it will continue to make new lows after the shock! Relying on the key pressure position is short The current gold is undoubtedly still in a downward trend. On the 4-hour level, gold fluctuates all the way down! And it keeps breaking new lows, and the high point connection forms the suppression of the current downward trend line! It is also the key resistance of this rebound! Before breaking through the suppression of the downward trend line, gold will continue to fluctuate downward, and will continue to break new lows! The longer the shock, the stronger the explosive power! Trading straregy: gold: sell@1950 tp1:1935 tp2:1925 Next, there will be a lot of trading opportunities for gold, and I will provide you with more signals, don't miss the opportunity to make money!
FOREXCOM:XAUUSDShort
by Kent_Garcia
Barrick: Dig Deeper! ⛏Barrick still has got heaps of digging operations to do. The share should continue the downwards movement it has started from the last high of wave (iv) in blue and drop below the support line at $12.65. Thereupon, Barrick should enter the yellow zone between $11.97 and $6.32 to develop wave (2) in yellow, whose low should then complete the overarching downwards trend and thus initiate fresh upwards movement. However, there is a 35% chance that Barrick could turn northwards earlier, climbing above the resistance at $22.80. In that case, the share should proceed and rise above $26.07 and $31.22 as well.
NYSE:B
by MarketIntel
4/17 Gold trading signal: Sell We have made a profit of more than 300% for two consecutive weeks! Last week, gold rose to near 2050 under the stimulus of news from all parties. During the US market on Friday, it directly fell below 2000, a decline of more than 50 US dollars. The gold long signal given on Thursday was successfully profitable, and the short signal on Friday was also very good. Caught this wave of the market!If you are trading following my signal, then congratulations, you have discovered the treasure! Today's trading focuses on the resistance of 2008, 2016, and 2028, and supports 1987. Around these points, we will go short at the high and long at the low to trade!In the case of breaking the position, follow the trend again. If you are not sure, welcome to me!
FOREXCOM:XAUUSDShort
by EagleEyeStrategy
GOLD | Interesting facts about GoldOANDA:XAUUSD 1.Gold is a 'noble' metal, meaning that it does not rust or lose its shine. Other noble metals include ruthenium, rhodium, palladium, silver, osmium, iridium, platinum, mercury, rhenium and copper. 2.Gold is the only yellow metal. All other metals darken or turn a yellowish colour after they have oxidised or reacted with other chemicals. 3.Gold is one of the heaviest and densest of all metals in the Periodic Chart; a cubic foot would weigh more than half a ton. 4.Pure gold will melt at 1064.43° and boils at 2856.1°. Even at normal temperatures gold is extremely soft. One gram of gold can be flattened down to a square meter sheet, which is so thin that light passes through, and because of this it has been used as a protective film on visors in space suits 5.Odourless and tasteless, gold is not toxic - and flakes may be eaten in foods or drinks. 6.Gold is far rarer than diamonds but is only the 58th rarest earth element. 7.It is estimated about 160,000 tons of gold have been mined throughout history. 8.In 2018, China was the world leader in gold mining production. Second was Australia, Russia third, US fourth and Canada fifth. 9.The largest gold nugget is the 'Welcome Stranger' mined in Australia in 1869, weighing in at a colossal 173 pounds (that is nearly 78.5 kilos). 10.The first gold coins were produced in Lydia between 700 - 650 BC. They were made from electrum, which is a naturally occurring alloy of gold. 11.The Swiss Franc was the last remaining country to peg its currency to a value in gold. It became a fiat currency in 1999. 12.The Perth Mint in Western Australia cast the largest ever coin - weighing one tonne and measuring 80 centimetres (31.4 inches) in diameter. 13.New York’s US Federal Reserve Bank is reported to hold 25% of the world's gold reserves. 14.Gold is frequently used as a safe haven asset in times of economic turmoil or geopolitical uncertainty. 15.Gold has historically had a weak correlation to movements in the financial markets and is frequently used as a hedge against inflation.
OANDA:XAUUSDEducation
by INVESTRONE
Non-agricultural data will be released soon, long or short? The non-farm payroll data in January was unexpectedly weak, largely due to statistical adjustments and labor hoarding causing abnormal data. The addition of over 500,000 jobs to the non-farm sector is unsustainable, and inflation is likely to continue to trend downward in the first half of this year due to base effects. Therefore, I personally believe that the Federal Reserve does not need to be excessively hawkish during a period of sustained inflation decline, and market sentiment will not remain pessimistic indefinitely. The comments from Powell on Tuesday and Wednesday were also ambiguous, indicating that acceleration in interest rate hikes would only occur when necessary, and not definitively. Therefore, whether or not it is necessary will depend entirely on how the data performs. Based on yesterday's initial jobless claims data, I believe the probability of non-farm payrolls being bullish for gold is relatively high. Furthermore, this week's sell-off did not continue, and after two consecutive days of low-level volatility, prices rose sharply during the US session, reaching a high of around 1835. This has changed the weak trend, and from a technical perspective, there has been no break below new lows. Instead, bearish momentum has stalled after falling to 1809, and gold has rebounded again. The expected bearish momentum for gold breaking new lows no longer exists, and from a technical standpoint, yesterday's rebound has stopped the downward trend. Gold is likely to continue to rise, particularly given the weak performance of US employment data, which has boosted the long-term expectations for gold. It is not ruled out that gold will continue to oscillate upwards with 1809 as the bottom, fluctuating in a broad range between 1809 and 1855. Based on the weekly chart, signals suggest that the current upward trend will continue next week. If both the news and technical aspects indicate a bullish outlook for gold, then the rise in gold prices is inevitable, and prices are highly likely to test the previous highs. Conversely, if the bearish factors do not break through the 1809 level, then the rebound in gold prices will not be small either. Therefore, my short-term trading strategy will focus on going long. As long as the watershed of 1830 is not broken, I will gradually go long at this line, with a target of 1845-1855. I will provide specific trading strategies during market hours and recommend subscribing. The recent market volatility has been significant, with opportunities and risks coexisting. Control risks while pursuing gains. OANDA:XAUUSD FXOPEN:XAUUSD
FXOPEN:XAUUSDLong
by Ice_and_Fire1
1
Continue to short gold. Gold received a boost from the positive impact of initial jobless claims data, resulting in a short-term rally. The resistance level above is at 1225, and those holding short positions at 1819 can continue to do so, waiting for the market to return to the technical aspect and continue to decline. Additionally, it is possible to add short positions again around 1824-1825 and short directly at that level. The stop-loss can be set at 1830, with the target at 1810. During the profitable process, investors can choose their own take-profit points according to their risk tolerance. FXOPEN:XAUUSD OANDA:XAUUSD
FXOPEN:XAUUSDShort
by Ice_and_Fire1
Assets are worth 2x the market cap (holds 46.7M shares of NFG)PALI market cap is $125M. Holds 46.7M shares of NFG, currently worth $230M + other assets. ----------------------------------------------------------------------------------------------- PALISADES ANNOUNCES HIGH-GRADE GOLD ZONE DISCOVERY BY NEW FOUND GOLD, INTERCEPTING 72.2 G/T AU OVER 9.65M VANCOUVER, BC, March 1, 2023 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") today announced that New Found Gold Corp. ("New Found"), a significant equity investee of Palisades within the meaning of applicable Canadian securities legislation, has announced the discovery of Iceberg, a high-grade zone located 300m northeast of Keats Main along the highly prospective Appleton Fault Zone ("AFZ"). New Found's 100%-owned Queensway project comprises a 1,650km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.
TSXV:PALILong
by wealth_bakery