India's Gold Imports Expected to Decline as Record Prices Encourage Jewelry Swaps India's gold imports in 2024 are projected to decrease by nearly 20% from the previous year, driven by record high prices prompting retail consumers to exchange old jewelry for new items, according to the head of an industry body. As the world's second-largest consumer of gold,...
Spot Gold remains confined to a tight intraday range on Wednesday, hovering around the $2,155 mark. The US Dollar advanced throughout the first half of the day but reversed gains with Wall Street’s opening as investors await the United States (US) Federal Reserve (Fed) monetary policy decision. The central bank is widely anticipated to keep rates on hold, with...
Gold price (XAU/USD) retreats after hitting a fresh record high earlier this Thursday and trades just above the $2,200 round-figure mark during the first half of the European session, still up for the second straight day. The prevalent risk-on environment – as depicted by a generally positive tone around the equity markets – prompts some profit-taking around the...
Gold price (XAU/USD) gains strong positive traction for the seventh straight day on Thursday and sticks to its intraday gains, near the record high during the early European session. Growing acceptance that the Federal Reserve (Fed) will start cutting interest rates in June keeps the US Dollar (USD) bulls on the defensive and turns out to be a key factor driving...
Gold price (XAU/USD) is seen oscillating in a range through the early European session on Tuesday and consolidating its recent strong gains to a three-month top, around the $2,120 area touched the previous day. Traders now seem reluctant and opt to wait for more cues about the Federal Reserve's (Fed) rate-cut path before placing fresh directional bets. Hence, the...
Gold price (XAU/USD) attracts some buyers for the fourth successive day on Monday and trades near its highest level since December 28 touched on Friday.
Here is quick understanding about gold Gold had shown consolidation after it broke resistance near $1940 -$1935 range in recent market, which was due to the CPI report. The decrease in consumer inflation also resulted DXY prices to decrease, which led the gold to consolidate through out the day. As per the current situation the resistance level that is coming...
Abort the short position now with minor profit only at current @ $ 2,016. I think we may have a range trading on our hand, The chances are we may BUY lower end @ $ 1,991 and SELL @ 2,078. Will update when something comes up.
Hello traders, watch GOLD to break the support wait for price retest and look for a short position opportunity, if price hold the support and didn't break watch price to break the 50 moving average and look for a long position opportunity. This is my analysis and view about GOLD. This is just analysis, not the exact trade or any kind of signal that proven with...
We can see we are breaking below support line, and in fact a double bottom. I have one hesitation, 4-hiurly chart is becoming oversold, and also we are in DARK MOON phase, suggesting low should be limited. I am not ignoring the selling pressure and breaking through support levels. I would rather seek buying level near $ 1,648 for now, or when we re-establish...
The issue is, we did not correct a lot as yet, and I felt 1,775-1,790 possible. Now we have corrected little bit from the lows, but not with much motivation. We are also nearing NEW MOON cycle soon, and this may dampen any move higher, and in fact push it lowers once again. I am cautious expecting little higher, and would then recommend SELL again. For now...
We are starting to go negative on signal line, and moving towards a week ago analysis that we may see a test of $ 1,800. This is still on the cards and for that reason I am not seeing a BUY opportunity as yet. Currently am neutral but would feel once near $ 1,800 we observe the movement and then perhaps it becomes a BUY opportunity. For now I feel monitoring...
I took out the position and for now am watching it. The pattern suggest we may see higher levels $ 1,980-2,000 but am not convinced as yet.
For now I liquidate the long GOLD position @ 1,911 at current $ 1,943. The pattern looks within a rage and I cannot see which way right now, so prefer to be out of it. The overall scenario buying into lower levels still stand, and feel we should be buying somewhere $ 1,900-1,910 again and add $ 1,870-1,880. Profit order if we do get long, I suggest $ 1,998 for now.
The position balance was taken back at $ 1,991 and for now am neutral on it. In terms of a possible strategy, the weekly chart still has more room lower, but only after we recover upwards. The daily pattern suggest we may see $ 2,030 again or slightly higher. Strategy if wished for, is to SELL $ 2,030 and $ 2,060 and profit order @ 1,993 for now. Please...
The long $ 1,889 is fine and I decided to take profit $ 1,942 instead of $ 1,953. The market is overbought now,and the chances are we will decline a little back to $ 1,902 area. For now am observing where the selling level should be and will update that later in the day.
As stated on my update on 4-hourly chart, I had sold at $ 1,938 and added at $ 1,970 as well. The profit order was change to $ 1,911 which was done. Right now I have no position on GOLD. If market goes back towards $ 1,970-1,980 I would start a fresh SELL again.
The issue is, we broker previous high at $ 1,877 on daily chart. The weekly chart is showing much higher potential. The stochastic daily chart starts looking negative. I tried short, and the stop-loss was fine. I feel we will need to re-sell somewhere, but I prefer waiting higher levels before I try again. Medium term players buy gold on dips as we are above good...