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GOLD Price Holds Steady Amidst Dollar Retreat, But Faces Down...Gold Price Holds Steady Amidst Dollar Retreat, But Faces Downward Pressures The price of gold has been treading water, hovering around $1,927 per troy ounce in the early hours of the Asian trading session on Monday. While the precious metal is managing to stay near the previous week's close, it faces challenges from multiple fronts, including a retreating US Dollar (USD), rising US Treasury yields, and influences from China's economic data. USD Retreats but Treasury Yields Rise The US Dollar Index (DXY), which measures the USD's performance against a basket of major currencies, is currently trading at approximately 104.80, slightly below its peak since April. The weakening of the USD has provided some minor support to gold prices. However, the rise in US Treasury yields, particularly the 10-year bond yields reaching 4.29%, up by 0.52%, could exert downward pressure on gold. USD's Robustness Supported by Positive Economic Data The USD is expected to remain resilient, supported by a consistent flow of positive economic data from the United States. For instance, US Initial Jobless Claims for the week ending September 2 reported a reading of 216,000, below both the market consensus of 234,000 and the previous week's revised figure of 229,000. This demonstrates the health of the US labor market and bolsters the USD's strength. China's Disinflationary Pressures on Gold China's Consumer Price Index (CPI) data for August was published recently, indicating a year-on-year increase of 0.1%. While this marks an improvement from the previous month's figure of -0.3%, it fell short of market expectations, which had anticipated a 0.2% reading. This relatively soft CPI reading suggests that disinflationary pressures persist in China, which could potentially weigh on gold prices. Uncertainty Surrounding China's Economic Situation Throughout the week, market participants will closely monitor developments in China's economy. Understanding the challenges that Chinese authorities must address to implement necessary monetary and fiscal measures to achieve their target of 5% GDP growth this year will be crucial. Any signs of economic instability or obstacles in achieving this goal could impact the global financial landscape, potentially affecting gold prices. Fed's Hawkish Stance and US CPI Data Awaited Adding to gold's challenges is the anticipation that the US Federal Reserve (Fed) will maintain higher interest rates for an extended period. There is also an expectation that the Fed will implement a 25 basis point (bps) interest rate hike by the end of 2023. This hawkish stance from the central bank could exert significant downward pressure on gold prices, as higher interest rates make non-interest-bearing assets like gold less attractive to investors. Investors will keenly await the release of the US Consumer Price Index (CPI) data for August later in the week. This data will provide further insights into the inflationary pressures in the US economy, which could influence the USD's performance and, consequently, gold prices. In summary, while gold has held its ground in the face of a retreating USD, it faces challenges from rising Treasury yields, China's disinflationary pressures, and the Fed's hawkish stance. The interplay of these factors will determine the precious metal's direction in the coming days and weeks. Our preference Below 1940.00 look for further downside with 1916.00 & 1907.00 as targets.
OANDA:XAUUSDShort
by FOREXN1
32
GOLD 4H Consumer Price Index (CPI)GOLD Today will move under the CPI effect reminding you that, consolidation under 1910 is important to achieve the suggested targets as breaching it will push the price to build a bearish wave to reach 1902, 1896, and 1884 As for renewing bullish attempts, consolidation above 1910 will support the price to rise up again and recover its positive momentum to retest again to 1920, 1928 , and 1937 Support line: 1902, 1896, 1884 Resistance line:1920, 1928, 1937
TVC:GOLDShort
by ElenaMayi
XAUUSD: 8/9 Today’s Trading StrategySpot gold rose slightly on Friday and is currently around 1926. After the ISM non-manufacturing index on Wednesday showed that the service industry is still strong, the number of initial jobless claims released on Thursday hit a six-month low, which also showed that the labor market is still resilient, once again strengthening the market's tightening expectations for the Federal Reserve, and the U.S. dollar index remains strong. . Yesterday's fundamentals showed that the number of initial jobless claims in the United States in the week to September 2nd was 216,000, lower than the expected 234,000, and a new low since the week of February 11, 2023. In line with the recent strong US data, the US dollar index has been supported, and gold, silver and non-US prices have fallen. Today's fundamentals mainly focus on the monthly US wholesale sales rate in July. Looking at the 1-hour trend, gold has been on a downward trend, and its rebound has been suppressed by the downward trend line! Still a bearish downtrend! However, there has been a divergence in the strength of the decline, indicating that the strength of the decline has been exhausted and there is the possibility of a rebound! However, the upward pull of the U.S. dollar seems to be very strong, suppressing the probability of the gold price falling below this range, suppressing the gold price to fall back, and choosing a direction in the short-term consolidation. The gold daily K-line has fallen for 4 days, and the price has fallen continuously to 1915 recently. The market is gradually approaching the daily mid-term support, and the decline speed is slowing down. Since the 1914-1910 range is the long-short conversion range in the previous market, we can regard it as a short-term support range. That is to say, as long as the bulls trade sideways at 1910, it will still It can rise at any time, so since it does not fall, there is no need to go short. Gold opened at 1919.49 US dollars in early trading. After the opening, there was a shock and rise. The current highest point is near 1927. At $1915, a positive closing line appeared, and there was a stop-fall resistance. The weak market of gold prices in the market outlook is expected to change, and it will further return to the weekly level. Therefore, in terms of operation, Jieese suggests that the main idea is to do long at low positions, and focus on the 1918-1920 position below. ​​​​Gold operation strategy: BUY:1919-1922 SL:1914 TP1:1926 TP2:1930
OANDA:XAUUSD
by ActuaryJ
Gold continues to do more, target 1920 Since 1987, gold has fallen along the downward channel to the 1884 line, with a drop of more than 100 US dollars. We also followed the trend and fell back. After the gold broke through 1900 yesterday, the highest reached the 1904 line. In the US market, it fell back to the 1889 line again, washing out a wave of multiple orders , I personally think that the institutions have exhausted all the short positions. When retail investors rebound in the market today, they will go all out to short. Today, there is a very high probability that they will rise sharply and sweep away the short positions. Yesterday, the daily line changed and broke through the downward channel again. There are two consecutive yangs above the channel. I personally feel that gold has shown a bottom signal. The current round of gold decline will come to an end. In the later stage, we will focus on doing more! When the bulls stand above 1900, the bulls will break out. In summary, go long on gold!
OANDA:XAUUSDLong
by wealth-freedom-Lord
1
Trade with gold 13/9Ethereum's Bounce: Ethereum's recent price increase may be due to retail traders buying during a price drop, but it's just one of many factors affecting its price. XRP's Support Loss: XRP losing the $0.5 support level is significant for sentiment. The next key support level is $0.45, and a failure to recover quickly could lead to further declines. Shiba Inu's Volume Surge: Shiba Inu's trading volume on Binance has spiked by 200%. This might be due to whales accumulating the token during the market downturn, and traders buying the dip in anticipation of a rebound. Remember that cryptocurrency markets are highly speculative and can be influenced by various factors, making them volatile and risky investments.
FOREXCOM:XAUUSD
by Hinata_Sumi
Today’s gold trading has been profitable continuouslyToday, we shorted gold in the 1923-1925 area, almost grasping today's highest point, and obtained relatively good profits. At present, gold has dropped to a minimum of around 1908. I once again inform everyone to go long gold around 1910-1908. Gold has currently rebounded to a maximum of around 1915. Although it has fallen back, we still have some profits. Have you followed me to go long gold? According to my current trading ideas, we can take profits in 1915-1916, and then look for suitable opportunities to short gold again. If you don’t know the exact trading rhythm, you can follow my trading ideas. I post my trading ideas every day and I also post free trading signals on a regular basis. Many friends have given feedback that it is very helpful. If you want to learn market trading logic, or you want clear trading signals and get more profits, I can satisfy you. Be sure to follow the bottom of the article to view the details!
OANDA:XAUUSDShort
by AntonioWilson
incase of range trade then there is expected range#GOLD... market placed 1907 as day low and bounced back arround 7 points. tomorrow is CPI day, it will be very important specially for #GOLD. before CPI maybe market trade in range if its happen then expected range will be 1914 and 1909. 1909 will be area of the day, it will be your key level, keep close it. holding of 1909 mean you can see again 1920 or sustained breakage of 1909 can leads you towards 1898 that will be support of the week and month. trade wisely good luck
FX:XAUUSD
by AdilHussain731333
Gold Traders Reap Double Return with Yen vs. DollarHave you heard the exciting news? A golden opportunity has emerged in the world of trading, where gold enthusiasts can now reap double returns by exploring the potential of the Japanese yen against the US dollar. Brace yourselves, as we delve into this thrilling venture that promises to elevate your trading game to new heights! Unleashing the Power of Yen: While gold has always been a reliable investment, it's time to consider the untapped potential of trading gold in the yen. The Japanese yen has shown remarkable strength against the US dollar, creating a perfect storm for traders to maximize their profits. By capitalizing on this unique currency pair, you can unlock a world of opportunities and potentially double your returns. Why Yen for Gold Trading? 1. Diversification: Trading gold in yen allows for diversification, reducing the risks associated with relying solely on the US dollar. This strategy enables traders to spread their investments across different currencies, mitigating potential losses. 2. Yen's Safe-Haven Status: The Japanese yen has long been recognized as a safe-haven currency, particularly during times of economic uncertainty. As gold is often sought after as a safe-haven asset, combining its trading with the yen amplifies the potential for significant returns. 3. Market Volatility: The yen's volatility against the dollar presents an excellent opportunity for traders to capitalize on price fluctuations. This dynamic environment creates a fertile ground for astute traders to make well-timed moves and maximize their gains. Call-to-Action: Embrace the Yen-Gold Duo Today! Are you ready to embark on a golden journey that promises double returns? Don't miss out on the chance to trade gold in yen and seize the potential for greater profits. Here's how you can get started: 1. Educate Yourself: Equip yourself with the knowledge and understanding of the yen's performance against the dollar and the factors influencing gold prices. Stay updated with market trends, news, and expert opinions to make informed trading decisions. 2. Choose a Reliable Trading Platform: Select a reputable trading platform that offers access to the yen-gold trading pair. Ensure the platform provides a user-friendly interface, reliable customer support, and robust security measures to safeguard your investments. 3. Develop a Solid Trading Strategy: Craft a well-defined trading strategy that aligns with your risk appetite and financial goals. Consider factors such as entry and exit points, stop-loss orders, and profit targets to optimize your trading experience. 4. Stay Disciplined: Successful trading requires discipline, patience, and the ability to adapt to changing market conditions. Stick to your strategy, avoid impulsive decisions, and continuously evaluate and adjust your approach as necessary. Conclusion: Dear traders, the world of gold trading has just become even more enticing with the yen's remarkable performance against the dollar. By embracing this unique opportunity, you can unlock the potential for double returns and take your trading journey to new heights. So, don't wait any longer! Equip yourself with knowledge, choose a reliable platform, develop a solid strategy, and embark on this golden voyage today. Remember, the yen is calling, and it's time to answer! Disclaimer: Trading involves risks, and it is essential to conduct thorough research and seek professional advice before engaging in any trading activity.
OANDA:XAUUSDLong
by bryandowningqln
Short gold and keep your winning streak aliveSince yesterday, I have been reminding everyone that judging from the current structural trend of gold, the current suppression point is near 1930. Gold is likely to start a correction trend near 1930, so for the next gold transaction,I definitely focus on shorting gold at high levels. Today I am informing you that we are shorting gold in the 1923-1925 area, which has now reached my expected profit target of 1916. In addition, our long BTC today has also reached my expected target, and we have gained very good profits. So today is another good harvest day, congratulations to friends who follow trading signals. At present, both gold and BTC have taken profits, and we still hold crude oil orders. I believe there will also be good gains. It's just past 13:00 PM and we still have a lot of time today to make more profits. I post my trading ideas every day and I also post free trading signals on a regular basis. Many friends have given feedback that it is very helpful. If you want to learn market trading logic, or you want clear trading signals and get more profits, I can satisfy you. Be sure to follow the bottom of the article to view the details!
OANDA:XAUUSDShort
by AntonioWilson
GOLD pulling back to 1914 Price is on a journey to 1985 but at this point I believe it is going to pullback to 1914 because the upward movement from 1885 to 1953 was a steep and fast one. Price has shown weakness on the daily tf and I believe the long awaited pullback is here Reasons to Sell 1. Price has shown clear rejections on the 4hrs supply zone and daily 2. We saw a strong selling pressure last Friday when USD gained strength with the help of NFP 3. Price got rejected at the 61.8% of the Fib retracement on the daily TF which marks a strong reversal level First TP level was hit on Friday @ 1935, and we got a rejection back to 1940, so I would advise looking out for selling opportunities towards 1925 and finally 1914 RIsk Management is advised I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
OANDA:XAUUSDShort
by owlswift_fx
Gold 1915 continues to do more At the same time, gold fell back 1914, 9113, 1912, 1911, 1910, all of which can be entered in batches. The familiar market, naturally, is to do more firmly. The same is true on Friday, and the market will repeat itself. more games The golden hour line is still pulling up strongly. On Friday, the k-line once fell back to around 1902, but the bottom line of the k-line is still held, that is, to stabilize the 1900 line, and then the Dayang line directly rises to around 1915. This is obviously a strong attack by the bulls, k The line is also rising on the moving average as scheduled, the 50 moving average is running downwards and the pause button is pressed, and 1915 continues to be long
OANDA:XAUUSDLong
by wealth-freedom-Lord
Gold continues to be bearish Gold has already made it clear in early trading that today's rebound will not break through the pressure of 1955, and the current price of 1950 in the European market is directly shorted, and the data in the US market is negative, so continue to hold the short order! Bearish, the US market pays attention to whether 1930 breaks! From the trend point of view, gold belongs to the shock trend! However, during the shock process, the center of gravity continued to move downwards, indicating that bears dominated! And this week's non-agricultural data, there is an opportunity to use the data to break down! Today's market volatility is limited, but it has not broken through the 1955 pressure suggested in the early trading, then continue to hold, the direction is right, and you will not be afraid of the long way! Continue to be bearish!
OANDA:XAUUSDShort
by wealth-freedom-Lord
2
Long and short 24 consecutive victories, 1915 continues to be mo Yesterday, the whole network of gold 1911 went long, and the Dayang line soared directly to around 1922. The long order is also a harvest. So far, there is no loss order this week. This wave of long and short has won 24 consecutive victories. In no time, the magical Friday is here, what do you think? The k-line as a whole is still above the 50 moving average. Even if the big Yang line falls back, it can be pulled up quickly, and the body of the Yang line directly covers the body of the Yin line. There is no possibility of a U-turn when the 50 moving average moves upward. Yang, Brother Wolf is allowed to fall back. The bottom line for bulls is around 1902. To stabilize this position is to stabilize the market. More, 1913 will be more directly
OANDA:XAUUSDLong
by wealth-freedom-Lord
Gold prediction interval 1915~1930Gold Layout Analysis: U.S. Treasury yields consolidated their weekly gains on Friday as U.S. yields edged higher on growing expectations of tightening policy from the Federal Reserve. The 2-year U.S. Treasury bond yield is 4.99%, and the 5-year and 10-year yields are 4.40% and 4.26% respectively. The yields on government bonds of these three different maturities all rose modestly, limiting the rise in gold prices on the day. Investors are eagerly awaiting U.S. consumer price index (CPI) and retail sales data for August to be released this week to continue betting on the Federal Reserve's next policy decision. Currently, the market expects another 25 basis points (bps) rate hike for the rest of this year, but the market is unsure whether the rate hike will occur in November or December. For gold traders, the most important economic data in the coming week is the U.S. August CPI and PPI, which will be released on Wednesday and Thursday respectively. Market participants will also be watching U.S. retail sales data for August and the European Central Bank's interest rate decision, both due on Thursday. Optimism has faded from precious metals markets as less than half of retail investors expect gold prices to rise this week, while most market analysts have returned to a bearish bias. the The golden daily line is in the peaking and falling stage, the MA5-MA10 moving average maintains the trend of dead cross, and the MACD green column can start to increase the volume; the weekly line is also in a concussive downward pattern, the Bollinger middle track under pressure continues to fall, and the three Bollinger Bands tracks open downward at the same time. , the decline is expected to go lower. At present, the 1930 mark has been tested many times and it has fallen back. The pressure above is obvious, so continue to maintain the bearish thinking. Focus on the key watershed of 1915. Once it clearly falls below, the downside risk will further intensify and it is expected to test near the 1900 mark. For a rebound, just focus on around 1928.
OANDA:XAUUSDLong
by Short-termTaurus