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XAUUSD : Will the upward trend continue?Although interest rates are still remaining high, gold prices are remaining stable and history has proven that gold prices will respond positively to lower interest rates and quantitative easing. Besides, geopolitical risks and unexpected crises can also be the reason to push gold prices higher. Despite record high interest rates, gold shows notable upside potential. We all know that precious metals often move in the opposite direction of interest rates. In other words, the correlation between interest rates and gold is always opposite. Real interest rates are fluctuating close to 2008 levels. However, even though real interest rates are quite high, gold prices are also recording an increase. There was a time when interest rates were similarly high, and gold prices were just near the $1,000/ounce mark. So with interest rates like this, gold should be trading around 1000 USD/ounce. But gold prices have been trading steadily above $2,000 for a while. In fact, they are not falling despite multiple rate hikes in 2022 and 2023. In addition to interest rate cuts and the possibility of an economic recession, there are also geopolitical risks that could cause gold to surge in price. Here are just some of them: Tensions escalate between Taiwan between the US and China. Remember that the stock market reacted quite negatively to the trade war between China and the US in 2019 and it is possible that a similar situation will repeat. Conflict is growing between NATO and Russia. This can lead to political, military and economic problems as well. Tensions increase in the Middle East. A lot has been written about the Houthis in the Red Sea. But the situation could become more serious. For example, Iran could become more directly involved and cause oil supply disruptions and general geopolitical instability. Of course, there are still many other risks. These factors could push gold prices even higher.
OANDA:XAUUSDLong
by SantaTradeGold
AVGO Broadcom Options Ahead of EarningsAfter the Head and Shoulders chart pattern was perfectly completed: and the bullish trend started: Now analyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week, I would consider purchasing the 1380usd strike price Calls with an expiration date of 2024-6-21, for a premium of approximately $129.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:AVGOShort
by TopgOptions
1
XAUUSD : Gold is creating an all-time record for himselfThe US Dollar Weakens, While Gold and Bitcoin Reach New Highs Ahead of NFP Report. In a speech before the Senate Banking Committee yesterday, Fed Chairman Jerome Powell hinted that interest rates may soon fall, saying, "If the economy performs as expected, the Fed is cautious about easing loosen monetary policy in the near future", and he also added: "The Fed is waiting to be confident that inflation will stabilize at 2%. When we have that confidence it will be The right time to reduce interest rates to prevent the economy from falling into recession." Previously, yesterday the ECB decided to keep interest rates unchanged as expected by the market. Speaking at the press conference after the meeting, ECB President Christine Lagarde also emphasized that interest rate cuts will happen soon in the future when more important macroeconomic data becomes available.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold will continue to create new records for itselfGold continues to rise after Chairman Powell's first testimony Gold prices extended their upward momentum after Chairman Powell leaned toward the "dovish" side and reported a lower-than-expected JOLTS. During the March 6 session, gold prices maintained their upward momentum, supported when Fed Chairman Powell leaned towards the "dovish" side in his first hearing. He believes that the Fed can completely cut interest rates this year and interest rates have peaked. The strongest increase occurred in the European session when gold rebounded from $2,125 and closed the session at $2,148. Precious metals were also supported by a weaker-than-expected JOLTS jobs report. Today, the market will receive Chairman Powell's next testimony before the Senate, then on Friday will release the expected NFP data. Currently, gold is slightly down to $2,145. It is expected that gold will continue to increase strongly to 2168 and then the 2188 area and if USD data continues to be too bad, there is a high possibility that gold will touch 2200, creating an all-time high.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold maintains strength amid pressure on USDGold prices extend strong gains as USD comes under pressure, focus turns to today's services PMI report. In the March 4 session, gold prices extended their strong upward momentum in the context of the greenback being under pressure. In the European session, gold increased sharply from $2,083 to over $2,100 and closed the session at $2,119. Lower-than-expected US economic data and the weakening of the USD continue to be supportive stepping stones for precious metals. Today, the market will receive the US services PMI report, before Fed Chairman Powell's hearing and the JOLTS jobs report on Wednesday. Currently, gold is falling slightly to $2,112.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold finds old peak after USD data.Gold shows outstanding strength after US economic data releases. Gold prices rebounded sharply after US PCE data matched estimates, along with a manufacturing PMI report and a lower-than-expected consumer confidence index. This past week, gold prices rallied from $2,028, broke through the $2,050 resistance, and pushed to $2,083 after the US core PCE report matched estimates, along with manufacturing PMI and index reports. US consumer confidence is lower than expected, demonstrating the weakness of the world's largest economy. However, the market still needs to be careful with important US economic data this week, including the services PMI report, Fed Chairman Powell's hearing and the JOLTS jobs report. Currently, gold is stable around $2,083.
OANDA:XAUUSDShort
by SantaTradeGold
Alikze »» MBOX | Elliott wave 3 scenarioIn the 1W Timeframe, after exiting from the density and support in the green box, it currently has a suitable guard in view of Elliott's ascending wave 3 to continue the path, which will open the first red box in the first step, and if it fails, the ascending path will open for the next area. became. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
XAUUSD : Gold rebounded after US inflation dataGold prices rebounded after US PCE data matched estimates, supporting expectations of interest rate cuts in the near future. During the February 29 session, gold prices increased sharply from $2,028 to $2,050 after the US core PCE report completely coincided with market predictions. The precious metal then fell slightly and ended the day at $2,044. It is still important to note that the interest rate probability at the Fed's March and May meetings has not changed much as the bank wants to wait for more data before making the next decision. This will limit the rise of precious metals in the near future. Today, the market continues to receive the next important data from the United States, including ISM's manufacturing PMI data and the University of Michigan's consumer confidence report. Currently, gold is trading around $2,044.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Awaiting the US core PCE report!Gold prices rebounded thanks to Middle East geopolitical tensions and US GDP figures missing estimates. During the February 27 session, gold prices increased sharply from $2,024 to $2,037 as geopolitical tensions increased and US GDP figures were lower than expected. However, precious metals have not been able to extend their upward momentum in the context that investors remain cautious before today's US inflation data. Today, the market will receive the core PCE report - the Fed's favorite inflation measure. In case the data rises higher than expected, the market will continue to lower the valuation of the Fed's interest rate cut, thereby putting pressure on gold. Currently, gold is rising to $2,034.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Gold awaits US economic dataGold's implied volatility from the derivatives market remains low and there are few signs of a spike. Typically, gold prices increase during periods of high volatility and decline during periods of lower volatility. However, weakness in the USD and US government bond yields on Tuesday helped prolong gold's rally. Gold prices tend to move inversely to the USD because the weakening of the greenback allows investors to buy the precious metal at lower prices. Gold is performing well as markets weigh up interest rate cuts in 2024. At the end of last year, 2024 was seen as a strong year for gold as interest rate cuts were expected coming as early as Q1, with about six 25bps cuts priced in for the Fed. Lower interest rates make precious metals more attractive, along with geopolitical tensions continuing to increase. However, markets later downgraded the valuation to three rate cuts for the year. Therefore, government bond yields have increased again but gold still maintains its price quite well. According to a report from Reuters, in January, net imports of gold into China via Hong Kong reached their highest level since mid-2018, central bank purchases helped support gold prices along with the The middle class seeks to preserve assets in the context of difficulties in the real estate sector. Gold is currently near trendline support, with the 50-day SMA as current resistance. The $2050 level is a hurdle for the bulls while a dip to $2010 would push the precious metal towards $1985 but for now gold is unlikely to break out strongly unless the US Q4 GDP data or the PCE index surprise.
OANDA:XAUUSD
by SantaTradeGold
1
Alikze »» LTC | Ready to defeat the dynamic triggerIn time W1, after a three-wave correction cycle, now after an upward movement with the failure of the swing and pullback, it has encountered support in the area of 61.8 Fibo, which must now be above the $75 range to break the dynamic trigger. Consolidate to advance to the $100 range supply zone. Therefore, if it is placed above the area, it will have the ability to grow up to the specified supply area. We should probably see a demand for failure in this area. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
6
XAUUSD : Waiting for upcoming US economic dataGold rebounded to $2,040 following a decline in US unemployment claims, with focus shifting to key economic data next week. Over the past week, gold prices fell to $2,020 following PMI data and US unemployment claims on Thursday but then recovered to $2,040 heading into the weekend. In the context that Fed officials are not yet ready to cut interest rates and the S&P 500 has increased recently, precious metals are not expected to break out at present. Gold is currently trading at $2,033. Next week, the market will receive many important economic data including the consumer confidence report, US GDP data and the core PCE index - the Fed's preferred inflation measure.
OANDA:XAUUSD
by SantaTradeGold
BABA Alibaba Options Ahead of EarningsIf you haven`t exited BABA when SoftBank sold its huge stake in the company: nor reentered the technical rebound: Then analyzing the options chain and the chart patterns of BABA Alibaba prior to the earnings report this week, I would consider purchasing the 75usd strike price Calls with an expiration date of 2024-4-19, for a premium of approximately $4.05. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:BABALong
by TopgOptions
XAUUSD : Is gold likely to return to 2010?Gold fluctuated slightly as markets remained cautious in a week with few important data Gold prices have not had many strong fluctuations as the market waits for new catalytic factors on the precious metal. During the February 6 session, gold prices mainly traded in the range of $2,023 - $2,029 before rebounding to $2,036 at the end of the day when the USD's upward momentum slowed. Geopolitical tensions in the Middle East continue to be a concern as the US has increased its response actions against the Houthi rebels. Gold's resistance remains at $2,050 and support appears at $2,030.80. Gold is currently down slightly to $2,034. Fed officials' speeches will remain the main mover for gold as investors maintain caution in a week without much economic data.
OANDA:XAUUSD
by SantaTradeGold