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A potential reversal point for SilverOANDA:XAGUSD has been beaten as bond yields are rising and Nasdaq is falling. But it reach to a good support point. There are three signals for a potential support here. We are at the band of the rising trend. First monthly pivotal support First pivotal resistance point for OANDA:XAUXAG Let's see if this support points holds or the price falls to the next support station. If we get a reversal move from here, it should first target 25$ and then 26$. This move should be supported with a rising OANDA:XAUUSD move. If gold breaks 2075$ barrier, we can see 28$ for the silver as well.
OANDA:XAGUSD
by WhaleGambit
1
#Gold UpdateI spent the last few weeks out of trading as I attempted to identify the start of an ending diagonal based on what I saw on lower timeframes in anticipation of the [A ] [B ] [C ] flat. With the decline that happened last week, I am now open to three alternatives. Black Labels [A ] [B ] [C ]. Wave [C ] is an expanding diagonal with wave b already completed. Expanding diagonal case looks stretched to my eye. Colour labels - base case. We have just completed wave (2) of the contracting diagonal. It looks a bit too deep, though. Wave [C ] dwarfs wave [A ]. Not good. The orange case is expanding diagonal and is in its final stage. Again wave [C ] looks disproportionally big to wave [A ]. Neither is perfect.
OANDA:XAUUSD
by Fomenka
1
#Silver UpdateIn Silver, the picture appears to be a little clearer than in Gold, since the price appears to have formed a definite (W)(X)(Y) pattern, with (X) being a symmetrical triangle. Such a pattern is the best candidate for wave [2 ] of the expected diagonal. Unless the price keeps drilling and forming a smaller diagonal pointed downwards I am fairly confident that the market has turned up. Not advice. Yet, again wave c looks a bit too big but I will have to live with that for the time being.
OANDA:XAGUSD
by Fomenka
Is silver going to $26 per ounce? Maybe. In our preceding discussion on silver, we delved into the dynamics of supply and demand, highlighting the deficit in supply compared to demand throughout 2022. In addition to that, we talked about how this opportunity, coupled with some other factors, could present an interesting opportunity to go long silver. Since then, the price of silver rose from around $22.50 to more than $25 just a few days ago. Currently, one troy ounce of silver trades around $24.85. We continue to be bullish on silver and pay close attention to the area between $24.55 and $24.64. If silver manages to defend this area and ideally hold above it, it will be bullish. But if it fails and drops below its 20-day SMA near $23.90, it will prompt us to secure profits. At the moment, our price target of $26 stays in place. Illustration 1.01 Illustration 1.01 displays the daily chart of XAGUSD. The yellow arrow indicates a bullish breakout from the downward-sloping channel. Technical analysis gauge Daily time frame = Bullish Weekly time frame = Bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section.
OANDA:XAGUSDLong
by Tradersweekly
15
BRICS, gold-backed currency, and challenge to the U.S. dollarEven if you are not a gold bug, you have probably caught the news about central banks being on a gold-buying spree, with 2022 marking the record year for central bank purchases. This trend has not stopped in 2023, and many countries intensified the diversification of their reserves amid economic uncertainty, geopolitical tensions, and high inflation in the United States. For some time now, we have considered this interest among central bankers as a very positive development for gold, making a case for higher prices in the long term. But more recently, we might have found another catalyst for the gold price. According to multiple media news outlets, the BRICS countries plan to introduce a new gold-backed currency in August 2023 at the organization’s summit in Johannesburg, South Africa (though Anil Sooklal, South Africa's ambassador to BRICS, denied these claims just a few days ago). Despite contradictory narratives between media and the BRICS officials, the shift to a gold-backed currency would be a monumental event in the world of finance, given that there has not been any gold-backed currency since U.S. President Richard Nixon suspended the convertibility of the U.S. dollar to gold on 15th August 1971. This move, often referred to as the “Nixon Shock,” effectively marked the end of the Bretton Woods System, under which most of the world's currencies were tied to the dollar, which itself was tied to gold. Since then, the U.S. dollar has lost more than 96% of its purchasing power, and gold has risen from $40 to over $1,900. Should the BRICS countries proceed with the introduction of a new gold-backed currency, it would greatly elevate gold's role in the international monetary system (especially when considering that BRICS recently overtook the G7 in terms of global GDP and another dozen countries asked to join the group). Furthermore, such a move would likely trigger a new wave of currency wars between the West and East, critically challenging the U.S. dollar's dominance as the world's reserve currency. Perhaps the erosion of purchasing power in fiat currencies would not be immediate with the introduction of this new gold-backed currency. Yet, history is laden with instances where the re-emergence of sound money has displaced the use of fiat currencies, particularly those lacking tangible backing. The transition can be a gradual process, slowly but steadily reshaping the landscape of global finance. Therefore, it's imperative now more than ever to stay attuned to the shifts and tremors within the financial world and to brace for an unpredictable future. The historical link between currency wars and actual conflicts is a stark reminder that these economic maneuvers carry weight far beyond monetary value. Illustration 1.01 Illustration 1.01 displays the monthly chart of XAUUSD. The dashed white line indicates how much gold has grown in price since “Nixon’s shock.” Technical analysis Daily = Bullish (with signs of weakness) Weekly = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSD
by Tradersweekly
6
$DXY -Middle Range Warzone (105vs100)- TVC:DXY seems to be wanting a break-out from Resistance Trendline coming from 114 Highs, despite failing to do so. A Resistance Trendline that has pushed the price lower each time price has approached it. Wether that break-out and resumption is bound to happen or not in the short term, it is yet to be seen. Currently, TVC:DXY is in the midst of a Middle Range War-Zone, struggling for direction. For now, Price-Action suggest a Lower High being printed at 104.5 , a Lower High from 114 Downtrend. By Breaking Structure(BoS) of the most recent Lower High (LH) 104.5 would validate the Trendline break-out and suggest furthermore uptrend continuation for TVC:DXY , headed for the the Range's Ceiling at 105.8 and testing the broken macro structure Support Trendline Move towards 105.8 range's ceiling would be quite bearish for overall Financial Market's condition. While a move to the range's bottom at 100 level would be quite promising for other Market Sectors to continue performing well. Very interesting week ahead for The Markets, especially TVC:DXY , which dictates Financial Markets Swings *** TRADE SAFE NOTE that this is not Financial Advice . Please do your own Research before partaking on any Trading Activities based solely on this Idea.
TVC:DXY
by Mr_J__fx
XAUUSD - KOG REPORT - FOMCFOMC – KOG Report: This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price. On Sunday’s KOG Report we said the report would only be applicable for the first half of the week due to FOMC today. We did well with this so will stick with some of the levels from the report for today. We’re going to keep this FOMC Report short this time as we’re not likely to be trading again until tomorrow. For those who are keen to get involved, we’ve highlighted the key levels to look for a reaction in price. The daily is showing a potential swing where a bullish move here can take it up towards testing the 2000 level and slightly above. For that reason, we’ve given the level on the break up towards 2005-8 with the initial hurdle being the 1980-85 level. On the flip, 1975-80 is another level to keep an eye on. We’re not publishing the daily bias today, but this was yesterdays bearish below level with a rejection around here potentially leading to price first attacking the 1945 region and below the 1930-35 order region which was our initial target for the short trades. Illustrated on the chart is the potential path, obviously with the swings, spikes and volatility expected please take it as a guide. We’ll only be looking for extreme levels in Camelot and that, as we said above is probably going to be in the sessions ahead. If you’re new to trading, the trade will come after the event. Please try not to get involved in the pre-event price action, it’s going to chop you in the range before they make the move. Best practice is to come back to the markets tomorrow and look for a clean set up. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
16
GOLD - PVVM Scores Confirm Bullish Trend!Analysis: It appears that the Macro PVVM score for GOLD has been gradually increasing, moving from -106.27 (10/07) to 29.52 (27/07). This suggests that the long-term trend for GOLD is increasingly bullish. The Micro PVVM score has been displaying a similar trend, generally increasing from -4.8 to 54.76 over the same period, indicating that the short-term momentum is also bullish. The closing price of gold has been following an upward trend aligning with the increasing PVVM scores. This is an indication of the positive correlation between the PVVM scores and the closing price. Key Takeaways: The upward trend in Macro and Micro PVVM scores suggests that the bullish momentum for gold is strong, both in the short-term and long-term. Traders should consider long positions. Entry points could be found during temporary pullbacks in the Micro PVVM, provided the Macro PVVM remains positive or stable. Watch Points: 1. Be cautious of divergence between price and PVVM indicators. If the price starts decreasing while the PVVM scores remain high, it could indicate a bearish reversal. 4. If the Micro PVVM begins to decrease while the Macro PVVM remains high, it may be an indication of short-term bearish movement in a generally bullish market, signaling a potentially favorable entry point for long positions.
TVC:GOLDLong
by SwingSwiss
#Gold Longer-termAs the short-term picture becomes clearer, I'm revising the view for the next six months (first published on May 27). The image below is based on the assumption of a larger rising wedge, which is dictated by the complexity of the moves observed since 2019, and specifically by what occurred in 2022-2023, which appears to be subwaves of WXY (double zigzags), which usually form 12345 waves of expanding or contracting diagonals. I will reiterate that while the multi-year trend is up, I still see the next 6-8 months as extremely challenging for stocks, energy and precious metals.
OANDA:XAUUSD
by Fomenka
4
Gold -> Clear Path Ahead!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold 💪 Gold retested the monthly 0.382 fibonacci retracement level of the last major monthly impulse and is now in confluence with bullish moving averages heading for new all time highs. The parallel channel on the weekly timeframe is still quite nicely pushing the price of Gold higher so I am waiting for any pullback to enter more buys on Gold. With Gold retesting previous daily structure and rejecting towards the downside my last analysis perfeclty played out - I am now just waiting for a retest of the $1935 structure and then I do expect a bullish trend resumption from there. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
OANDA:XAUUSDLong
by basictradingtv
49
#Gold UpdateIn the chart above, I highlighted the preferred scenario now in Gold and Silver - flat. Since wave is a clear double zigzag and because Silver invalidated a symmetrical triangle, I would discount the probability of such a triangle in Gold as well. That leaves me with ABC flat, or the whole thing is something else. However, even one scenario with ABC flat may have a great degree of uncertainty as wave C can take the shape of an ending diagonal as indicated below, or an impulse with wave w relabeled as wave (1) - less likely considering complex structures on minute timeframes. It can also be an expanded diagonal which is always a nightmare for ElliottWave traders.
OANDA:XAUUSD
by Fomenka
1
💰 Exploring the Potential of Investing in Precious Metals.Throughout the ages, the allure of rare and captivating metals like gold, silver, platinum, and palladium has remained unwavering. Their scarcity, exquisite aesthetics, and enduring nature have made them objects of desire. While these metals are commonly associated with ornamental jewelry, their utility extends far beyond adornment, finding applications in various industrial and technological realms. Moreover, precious metals have long been regarded as a safeguard against inflation and a sanctuary for investors amidst economic upheaval. Consequently, the trading of these invaluable commodities has evolved into a pivotal component of the global financial landscape, witnessing the exchange of billions of dollars each passing day. In this exposition, we embark upon an exploration of the fundamentals of precious metals trading: the mechanisms at play, the influential factors shaping prices, and the diverse avenues through which investors can partake in this exhilarating and ever-evolving marketplace. The vast realm of metals is neatly divided into two distinct groups: ferrous and nonferrous. The former encompasses iron, manganese, and chromium, although experts occasionally question the inclusion of the latter metal. This classification extends to alloys containing elements from these primary ferrous metals. Understanding Precious Metals From an official statistical perspective, ferrous metals command an overwhelming share, reaching up to 90%. One would naturally assume that such metals enjoy significant demand on stock exchanges. However, in reality, a majority of transactions occur outside the realm of these exchanges, transpiring directly between buyers and sellers. Consequently, the ferrous metals market and its liquidity do not boast the most favorable conditions. Within this category, certain metals hold a prominent position in exchange trading, namely: gold, silver, platinum, palladium, copper, aluminum, zinc, and nickel. Amongst these, gold and silver reign as the favored choices among traders and investors. To comprehend the market of precious metals in its entirety, it is imperative to examine it through two essential lenses: the functional aspect and the institutional perspective. Ultimately, the market represents a harmonious amalgamation of diverse spheres, encompassing not only extraction, production, and processing but also the final sale to consumers. The price of precious metals is subject to the influence of various factors, encompassing: Supply and demand dynamics: The fundamental principles of supply and demand exert a significant impact on precious metal prices. Limited supply coupled with high demand typically drives prices upward. Economic indicators: Economic data, including inflation rates, interest rates, and GDP growth, can shape the price trajectory of precious metals. For instance, during periods of elevated inflation, investors often seek refuge in precious metals as a store of value, leading to increased demand and subsequent price appreciation. Geopolitical events: Geopolitical occurrences like wars, trade conflicts, and political instability have the potential to sway precious metal prices. When geopolitical tensions escalate, investors frequently turn to precious metals as a safe haven, fueling demand and subsequently driving prices higher. Currency fluctuations: Since the price of precious metals is commonly denominated in US dollars, fluctuations in currency value can impact metal prices. For instance, if the US dollar strengthens, precious metal prices may experience a decline as they become relatively more expensive for buyers using other currencies. Investor sentiment: The sentiment and outlook of investors can play a vital role in shaping precious metal prices. Bullish sentiment may lead to increased buying activity, resulting in price surges. Conversely, bearish sentiment may prompt investors to sell their holdings, leading to price declines. To summarize, the price of precious metals is influenced by a multifaceted interplay of factors, ranging from the core dynamics of supply and demand to geopolitical events and currency fluctuations. Investing in precious metals offers several avenues for investors to participate in the market. Here are three of the most popular approaches: Stocks: Investors can purchase shares in mining companies engaged in the extraction of precious metals like gold, silver, platinum, and palladium. The stock prices of these companies often correlate closely with the underlying metal's price, as their profitability is tied to production costs and market demand. Exchange-Traded Funds (ETFs): Precious metal ETFs enable investors to buy shares in a fund that holds physical precious metals, such as gold or silver. These funds aim to track the price movements of the respective metal, providing a convenient means of exposure to the market without the need for physical storage and transportation of the metals. Contracts for Difference (CFDs): CFDs are financial instruments that allow investors to speculate on the price fluctuations of precious metals without owning the physical metal itself. By entering into a contract with a broker, investors can buy or sell the metal at a predetermined price on a future date. CFDs are a more speculative approach, involving leverage and potentially significant losses if the metal's price moves unfavorably. The potential earnings from trading precious metals can vary greatly and are highly dependent on individual factors and market conditions. It's important to note that trading in precious metals can be subject to volatility and fluctuations, and there are no guarantees of specific earnings. While gold and silver have demonstrated a long-term upward trend, it is crucial to approach trading with realistic expectations. Over the long term, precious metals have historically shown the potential for favorable returns. However, short-term gains can be less predictable. It's important to have a long-term perspective and not expect significant profits within a short period. Patience and a strategic approach are key when investing in precious metals. It's worth mentioning that the scarcity of precious metals, especially gold, has a significant impact on their value. As the available supply diminishes over time while demand remains steady or increases, the price per unit tends to rise. This trend is driven by the basic principles of supply and demand. In summary, while precious metals can offer good returns over the long term, it's important to manage expectations and understand that substantial earnings may take years or even decades to materialize. Investing in precious metals offers both advantages and disadvantages. Here are the key pros and cons to consider: Advantages: Safe haven investment: Precious metals, particularly gold and silver, are often viewed as safe haven assets during economic uncertainty or market instability. They can act as a hedge against inflation, currency devaluation, and geopolitical risks. Diversification: Precious metals provide diversification benefits to an investment portfolio. They have a low correlation with traditional assets like stocks and bonds, which can help reduce overall portfolio risk and enhance stability. Tangible assets: Precious metals are physical assets that can be held directly, offering a sense of ownership and security for some investors. Having tangible assets can also provide a potential alternative during times of financial crisis or disruptions in the banking system. Disadvantages: Volatility: Precious metal prices can be highly volatile, experiencing significant price swings within short periods. This volatility can pose risks, especially for short-term traders or those seeking quick profits. Limited income potential: Unlike stocks or bonds, precious metals do not generate income through interest payments or dividends. Their value primarily relies on price appreciation, which may limit their long-term growth potential compared to income-generating investments. Storage and insurance costs: If investing in physical precious metals, storage and insurance expenses can add to the overall costs of ownership. Proper storage facilities and insurance coverage are necessary to protect the value of the assets, which can eat into potential returns. Market manipulation concerns: Critics argue that the precious metals market may be susceptible to manipulation by large players or governments, potentially leading to artificial price movements that may not reflect true supply and demand dynamics. It's important for investors to carefully weigh these advantages and disadvantages, taking into account their financial goals, risk tolerance, and the broader investment landscape. Consulting with a financial advisor or conducting thorough research is recommended before making any investment decisions in precious metals. Are Precious Metals A Good Investment For You? Determining whether precious metals are a good investment for you requires considering various factors such as your financial goals, risk tolerance, and investment timeframe. Here are some key points to consider: Diversification: Precious metals can serve as a valuable component of a diversified investment portfolio, as they often have a low correlation with other asset classes. This diversification can help mitigate risk and stabilize portfolio performance. Inflation protection: Precious metals are historically considered a hedge against inflation since their value tends to rise when the purchasing power of fiat currencies declines. If protecting against inflation is a priority for you, investing in precious metals could be advantageous. Volatility: It's important to recognize that precious metals can experience significant price volatility, which may not align with the risk tolerance of every investor. If you are uncomfortable with substantial price fluctuations, other investment options may be more suitable. Liquidity: Precious metals generally offer high liquidity, meaning they can be easily bought or sold on major exchanges. This accessibility allows for flexibility and quick access to funds when needed. Long-term perspective: Investing in precious metals, particularly gold, often yields gradual and steady returns over the long term. Patience is crucial when investing in these assets, as their growth tends to occur gradually rather than in short-term bursts. Considering these factors, it is recommended to conduct thorough research, assess your individual circumstances, and consult with a financial advisor before deciding if precious metals are a suitable investment for you.
OANDA:XAUUSDEducation
by FOREXN1
9
Huge market deficit, speculation, and investment appealSilver is a precious metal that has long been valued for its versatility, beauty, and rarity. Its unique properties have made it an important material for both monetary and industrial uses. While silver is often overshadowed by gold in terms of investment appeal, it has its own unique investment potential that should not be overlooked. Based on the data from The Silver Institute and Metals Focus, there are several developments in this space that may make silver an attractive option for investment or speculation in the coming months. To better understand this opportunity, it is important to be acquainted with the driving forces in the silver market. Silver is produced by mining and recycling. On the demand side, silver has a variety of uses, including in jewelry, silverware, investment, and industrial applications. In 2022, the total supply stood at 31,250 metric tonnes. Meanwhile, total demand reached 38,643 metric tonnes. The mining activity accounted for 81.84% (25,578 metric tonnes) of the supply in 2022, with recycling contributing the remaining 18.16% (5,618 metric tonnes). Mining output dropped by approximately 1% YoY, and recycling grew by about 3% YoY. As for the demand in 2022, industrial use accounted for 44.79% (17,309 metric tonnes), jewelry for 18.83% (7,280 metric tonnes), silverware for 5.91% (2,286 metric tonnes), photography for 2.21% (855 metric tonnes), and physical investment for 26.79% (10,356 metric tonnes); the remaining 1.47% of the demand relates to the other uses. The investment demand for silver doubled from 4,884 metric tonnes in 2017 to 10,356 metric tonnes in 2022. Furthermore, jewelry demand fully recovered from a slump during the Covid-19 epidemic, rising from 4,680 metric tonnes in 2020 to 7,280 metric tonnes in 2022. In fact, the total demand for silver returned stronger from the 2020 disruption, resulting in the market being undersupplied by 7,393 metric tonnes in 2022. As the World Silver Survey 2023 expects the total output to grow only by 2% in 2023, the market deficit represents an interesting dynamic that might prove to be impactful to the price of silver in the future. However, with the current weakness in the precious metals sector, we think it would be reasonable to either wait a little bit longer before entering a trade or start with very small purchases in multiple transactions (leaving more capital on the side for later). Our goal would be to get the entry closest to the $20 price tag and wait for silver to rise above $26. Illustration 1.01 Illustration 1.01 shows the daily chart of XAGUSD. One red arrow indicates the declining price from 5th May 2023 until yesterday; the other red arrow hints at volume, which started to decline more recently. Normally, such a relationship between the price and volume suggests that selling pressure is losing steam, and reversal can be impending. Technical analysis Daily = Bearish Weekly = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAGUSDLong
by Tradersweekly
12