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GOLD PRICE DECREASES LAST SESSION💵GOLD PRICE AND ECONOMIC INFORMATION Gold held steady above the $2,300 per ounce mark on Friday, on track for its first weekly gain in four weeks after falling over 1% in the previous session, as investors assessed softer-than-anticipated US inflation figures against the Federal Reserve’s updated interest rate projections. Thursday's data showed that the US PPI unexpectedly fell in May amid lower energy costs, indicating that inflationary pressures continued to subside. This followed cooler-than-expected consumer inflation data released last Wednesday. However, the latest dot-plot projections from FOMC members revealed that, on average, they anticipate only one 25 basis point rate cut this year, with four members forecasting no cuts at all. ✉️Deekop's Analysis: After the FOMC and CPI forecasts as expected, gold increased slightly to 2340 and fell in line with the FOMC's good USD direction. Today's milestone 2304-2308 is quite important. Gold will grind to break this mark if it wants to create a downward trend to conquer the 2291-2267 mark. 🔴SELL GOLD: 2319 - 2321, SL: 2325 (Sell retest dow + down vol) 🔴SELL GOLD: 2336 - 2338, SL: 2342 🟢BUY GOLD: 2282 - 2280 SL: 2276 ⛔️Breakout: 📈 Breakout on: 2325 📉 Breakout below: 2305- 2291 - 2286 - 2280 🔼Support: 2305 - 2291 - 2286 - 2280- 2274 🔽Resistance: 2317 - 2321 - 2325 - 2333 - 2338 Deekop's daily plans all achieve fixed profits GOOD LUCK EVERYONE👍
OANDA:XAUUSDShort
by Scalper_Ananda
GOLD'S LEAP AFTER THE NEWS IS RELEASEDGold edged lower to hold near $2,360 per ounce on Wednesday, as investors continued to reduce bets on US Fed rate cuts this year, following recent remarks from officials, while awaiting the key PCE inflation report. On Tuesday, Minneapolis Fed President Neel Kashkari stated in an interview that the Fed should delay cutting rates until inflation significantly improves and might even hike rates if inflation fails to come down further. Ananda research and comments XAUUSD PLAN DAY 29/05/2024 🔴SELL GOLD: 2370 - 2472 , SL: 2476 (scalping) 🔴SELL GOLD: 2386 - 2488 , SL: 2392 🟢BUY GOLD: 2324 - 2322, SL: 2318 (scalping) 🟢BUY GOLD: 2305 - 2307 , SL: 2301 Breakout & retest: - Breaking and closing on: 2361 - 2374 - Break and close below: 2345 - 2335 - 2322 Support 2347 - 2335 - 2322 - 2316 - 2307 Resistance: 2370 - 2378 - 2384 - 2397
OANDA:XAUUSD
by Scalper_Ananda
2
Gold Price Outlook: Potential Decline AheadAnalyzing the current landscape during the Christmas holiday, gold prices ("XAU/USD") are likely to maintain their upward trend, hovering around the psychological resistance of $2,000 per ounce. The ongoing weakness of the US dollar continues to support the bullish sentiment. From a technical standpoint, key resistance levels stand at $2,055, $2,070, and $2,085. These levels have pushed technical indicators into overbought territory, signaling a potential for profit-taking sales. With prices just below $100 per ounce, investors are advised to exercise caution in this slightly volatile market. Despite concerns about prolonged conflicts, gold prices remain high, setting a robust foundation for potential future increases. Modest purchases by exchange-traded fund (ETF) investors could significantly impact market sentiment. The pace of new buying may hinge on the Federal Reserve's interest rate cuts in the coming year. Derivative traders are pricing in a cautious approach, potentially influencing gold prices. In summary, the gold market shows resilience, but caution is advised amid potential profit-taking and market uncertainties.
FXOPEN:XAUUSD
by AdmamTrade
XAUUSD - Bears fail to find acceptance, Where to Next ?Gold has been on a rollercoaster this week with whipsaw price action sending mixed signals. A week that promised a lot did deliver on the volatility front but failed to provide any clarity on the possible direction of Gold prices moving forward. At the time of writing Gold trades at $1,954, just a smidge higher than last weeks close. The Fed's decision on Wednesday led to significant selling pressure on the USD, causing Gold to rebound on Thursday from its 3-month low. Market participants were confused by the Fed's pause and future economic forecasts. Fed upgraded their highest interest rate outlook to 5.6% from 5.5% with Chairman Powell ruling out rate cuts until 2023, making the USD's depreciation more interesting.
OANDA:XAUUSD
by Jiren-SphynChannels
17
GOLD - Outlook steadies after test sower that May prove pivotalGold has tried lower but rallied off the floor after the US Dollar took a turn in the aftermath of rate decisions from the Federal Reserve and the European Central Bank this week. Gold’s recent dip below an ascending trend line and subsequent test of support levels in the $1.936 – $1.945 area might ask more questions than it answers. This may suggest that recent bearishness could have been rejected by the market for now and that the $1.936 – $1.945 zone might remain supportive.
TVC:GOLD
by Jiren-SphynChannels
10
GOLD - Fed pauses but signals higher interest ratesThe Federal Reserve recently concluded a highly anticipated policy meeting, deciding to maintain the current benchmark interest rate at a range of 5.00% to 5.25%, aligning with market expectations. This unanimous decision, widely communicated by some senior members of the FOMC in recent weeks, indicates that policymakers remain consistent and agree on the strategy to address inflation and bring it back to the long-term target of 2.0%. The decision to hold steady comes as the Fed seeks more time to assess the outlook for growth and the cumulative impact of past actions. In the context, the central bank has raised rates at each of the past ten consecutive meetings, bringing a total tightening of 500 basis points since March 2022, in one of the most aggressive normalization cycles in decades.
TVC:GOLDShort
by Jiren-SphynChannels
6
GOLD - Peels lower despite soft US Dollar ahead of the FedGold prices dropped due to weaker US dollar and rising bond yields ahead of the FOMC meeting. The monthly headline CPI for May was 0.1%, lower than the previous 0.4%, resulting in an annual rate of 4.0%, slightly lower than the expected 4.1% and the previous 4.9%. The core CPI was 0.4% in May, meeting expectations, and 5.3% compared to the same period last year, slightly lower than the expected 5.2% and the previous 5.5%. The significant decrease in the headline rate may be attributed to the exclusion of the 0.9% monthly statistical effect in May 2022 from the dataset.
TVC:GOLD
by Jiren-SphynChannels
16
GOLD - Down as markets price in a pause after 10 consecutive The gold market continues to decline after the Fed's interest rate decision led to a revaluation of expectations, with a rate hike expected in July. The highly anticipated inflation report revealed a contrasting outlook for the US. While inflation has dropped to 4% annually, the core CPI, which excludes energy and volatile food prices, still runs at 5.3%, a slight decrease from 5.5% but hotter than the market's consensus. Despite the cooling inflation, analysts remain cautious, which could give the Fed the option to pause.
TVC:GOLDShort
by Jiren-SphynChannels
18
XAUUSD - Support as US CPI shapes view ahead of Fed and ECBGold prices slightly increased today as the market anticipates the possible outcomes of the US CPI and PPI before the Fed's FOMC meeting tomorrow. Meanwhile, the US 10-year real interest rate continued to inch up slightly to above 1.5% with stable bond yields this week ahead of the significant monetary policy meeting and inflation data. The real yield is the nominal yield minus the market-based inflation rate, originating from Treasury Inflation-Protected Securities (TIPS) for the same term. If today's CPI data differs significantly from expectations, the real yield may fluctuate, affecting gold prices. In February, gold was below $1,850/oz when the real 10-year yield was at this level.
OANDA:XAUUSDLong
by Jiren-SphynChannels
16