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World gold prices recovered slightlyGold prices reversed to increase when receiving information that Russia proposed that BRICS member countries create their own precious metals trading floor. The news follows a statement adopted by the leaders of BRICS countries on Wednesday, advocating increased precious metal exchanges between members on the basis of common quality standards. “This mechanism will include the creation of metal price indicators, standards for the production and trade of bullion, recognition of market participants, settlement of bullion,” said Russian Finance Minister Anton Siluanov. Clearing and auditing in BRICS countries. Participating countries will have a reliable method for stable exchange transactions.” The Russian Ministry of Finance added that it expects the BRICS precious metals exchange “to become the main regulator of precious metals prices.” ☄️. Important support and resistance levels: The nearest support zone is 2712,000 - 2715,000, while the strong resistance zone is at 2740,000 - 2743,000. If the price surpasses 2750,000, the upward momentum could extend to the highest level from the beginning of the year at 2758,000 and beyond to 2800,000.
OANDA:XAUUSDLong
by TheLeader_WOLF
World gold price todayWorld gold costs increased, with spot gold growing through 20.five USD to 2,736.three USD/ounce. Gold futures closing traded at 2,748.four USD/ounce, up 19.four USD as compared to the day gone by morning. Prices for the yellow steel rose 1% on Thursday and remained close to document highs hit in advance withinside the week, boosted through growing safe-haven call for because of fears of geopolitical tensions. According to marketplace analyst Carlo Alberto De Casa of Kinesis Money, gold`s restoration from the day gone by's low is a high quality sign confirming the extremely good hobby of buyers in bullion. This professional believes that, withinside the context of a complex political situation, buyers will pour into gold to guard their assets. He brought that robust call for from principal banks is likewise supplying a lift to the treasured steel's rally. 🔴Mid-term: Gold price is still in an uptrend, but the upward momentum shows signs of slowing down due to risk factors. 🔴Short-term: Price forms a sideway zone, suitable for trading strategies based on support and resistance zones. ➡️Buying range: 2712,000 - 2715,000 ➡️Selling range: 2740,000 - 2743,000
OANDA:XAUUSDLong
by FalCol_TradingMaster
Sell XAU/USD (Gold) Triangle BreakoutThe XAU/USD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 2722 Target Levels: 1st Support – 2702 2nd Support – 2687 Stop-Loss: To manage risk, place a stop-loss order above 2744. This helps limit potential losses if the price falls back unexpectedly. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
OANDA:XAUUSDShort
by KABHI_FOREX_TRADING
2
XAUUSD Adjusts But Maintains UptrendThe XAUUSD chart shows that the price is adjusting after hitting the resistance level of 2,758 USD, but the uptrend remains dominant. The key support zone is around 2,712 USD, where the price has bounced back in previous corrections. The EMA(34) and EMA(89) continue to provide important technical support, with the short-term EMA above the long-term EMA, reinforcing the uptrend. Despite selling pressure, buying interest is still protecting this support level. If this support holds, the price may recover and retest the resistance level. Concerns over the U.S. elections and expectations of rising interest rates supporting the dollar could put pressure on gold.
OANDA:XAUUSDLong
by Zola_Hello
1
BULLISH GOLD AHEAD In the coming days we are monitoring GOLD for a big bullish run towards 2800 and ultimately 2916 level. Gold is currently expected to sweep the liquidity at 2700/2690 level before this move up. Its should also be noted that USA elections are coming up on 5th Nov hence a lot of volatility expected which will include a big drop on US DOLLAR. For the experienced traders happy hunting, for the new traders stay within reasonable risk. Use proper risk management. Best of luck to you all. GWG
ICMARKETS:XAUUSDLong
by GeminiWealthGroup
Gold needs to hit $2,740 to keep rising.Gold prices continued to rise in the Asian trading session on Friday, marking the second consecutive day of consolidation. Although it reached a record high of $2,759 on Wednesday, prices remained confined within a familiar range since the beginning of the week. The fluctuations in gold prices are influenced by expectations that the Federal Reserve may adopt a less aggressive easing policy, along with uncertainties surrounding the presidential election and geopolitical tensions in the Middle East. Additionally, earnings reports from U.S. companies play a crucial role in shaping risk sentiment, which in turn affects the value of the U.S. dollar (USD) and gold prices. Personal opinion: To maintain a sustainable upward trend, surpassing the resistance level of $2,740 is really important. If successful, this will open up opportunities for gold buyers to continue targeting the psychological barrier of $2,750. If they can break through this level, the next goal will be the record high of $2,759. This indicates that the market is showing positive signs and could continue to grow, offering hope to investors. Pay attention to the price range: Buy Zone: 2704 - 2702 SL: 2697 Buy Zone: 2713 - 2711 SL: 2706 Sell Zone: 2740 - 2742 SL: 2747
OANDA:XAUUSDLong
by Chana-Trading
GOLD decreased slightly from 2,741 USDFriday (October 25) in the Asian market, OANDA:XAUUSD suddenly decreased rapidly in the short term. Gold price is close to 2,725 USD/ounce, down more than 9 USD during the day as of the time this article was completed. The latest news is that the United States and Israel plan to restart ceasefire negotiations in Gaza, which has affected gold prices in the short term. The US and Israel plan to resume ceasefire negotiations in Gaza U.S. officials said Thursday that U.S. and Israeli negotiators will gather in Doha in the coming days to try to restart talks to reach an agreement on a ceasefire and the release of hostages in Gaza. , Reuters reported today (Friday.) Qatar and Egypt acted as intermediaries in the months-long negotiations between Israel and Hamas. Previously, negotiations broke down in August this year, making it impossible for the two sides to reach an agreement to end the conflict. The conflict began when Hamas launched an attack on southern Israel on October 7, 2023. Israeli Prime Minister Benjamin Netanyahu's office said David Barnea, the head of Israel's Mossad intelligence agency, would travel to Doha on Sunday, adding that CIA Commissioner William Burns would attend the talks. US Secretary of State Antony Blinken traveled to the Middle East this week in hopes of restarting ceasefire talks in Gaza following the death of Hamas leader Yahya Sinwar. Washington sees Shinwar as the main obstacle to a deal. “Going back to the ceasefire negotiations and the hostage issue, one of the things we're doing is looking at whether there are different options that would allow us to get to an outcome,” Blinken said. ”. In terms of economic data The number of people filing for first-time unemployment benefits in the United States unexpectedly fell last week, but the number of people receiving benefits increased in mid-October, raising the risk of a rise in the unemployment rate this month. . Initial jobless claims for the week ended October 19 fell from 15,000 to a seasonally adjusted 227,000, the U.S. Department of Labor said on Thursday. The decline in unemployment claims due to Hurricane Helen offset the spike in unemployment claims due to Hurricane Milton. The market had forecast 242,000 applications for unemployment benefits in the latest week. Helen and Milton make it more difficult to keep your finger on the pulse of the labor market. Unemployment rate fell to 4.1% in September from 4.2% in August. Unemployment rate increased to 4.3% in July from 3.4% in April 2023, this is which led to the Federal Reserve's unusually large 50 basis point interest rate cut last month. This is seen as beneficial for the USD and not supportive of gold. Analysis of technical prospects for OANDA:XAUUSD Gold was once again under pressure and fell slightly after reaching the initial target level noticed by readers in yesterday's edition at 2,741 USD, the Fibonacci price point extended by 1%. Overall, gold needs some time to adjust as it has had a long period of continuous price increases, indicators are at overbought levels as shown by the Relative Strength Index pointing down from the 75 and still far from the nearest support level at 50. In the short term, gold will likely test the area of ​​2,711 - 2,700 USD, which is considered the closest support area currently. In the event that the $2,700 raw price level is broken below gold, there will be room for a bit more downside with subsequent targets around $2,688 – $2,672 Fibonacci price points of 0.618% and 0.50%. Although reductions and corrections may still occur, in general the trend of gold is still up, in fact the uptrend is still being maintained with the price channel currently trending in the short term. As long as gold remains above EMA21, within the channel, its main trend is still bullish even if downward corrections occur, and short-term price points will be noticed again as follows. Support: 2,711 – 2,700USD Resistance: 2,741 – 2,748 – 2,758USD SELL XAUUSD PRICE 2766 - 2764⚡️ ↠↠ Stoploss 2770 →Take Profit 1 2759 ↨ →Take Profit 2 2754 BUY XAUUSD PRICE 2680 - 2682⚡️ ↠↠ Stoploss 2676 →Take Profit 1 2687 ↨ →Take Profit 2 2692
OANDA:XAUUSD
by Xayah_trading
Gold prices are on an upward trend this week!Dear traders, Conan here! Today, gold is in a strong uptrend after all the attempts of the bears failed to reclaim the $2600 level, the price has started to increase and is currently at $2650. The increase is mainly due to the 80% chance that the Fed will tend to cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates will remain unchanged. Lowering interest rates can reduce the opportunity cost of holding gold, thus supporting the price of gold. With positive signs from the fundamental news and in addition, gold is still reacting around the 34 EMA and the technical uptrend has not been broken when looking closely as on the 1-hour chart, we can fully expect the uptrend to remain completely dominant. Due to these factors, in Conan's personal opinion, gold prices are expected to remain attractive in the near term, with the possibility of rising to $2750. What do you think about this view?
OANDA:XAUUSDLong
by ConanTradingFX
XAUUSDHello Traders! 👋 What are your thoughts on GOLD? The price of gold has reached the upper resistance of the ascending channel, and negative divergence is visible on the RSI indicator. This divergence typically signals weakening buyer momentum and the potential for a price correction. It is expected that the price will enter a correction from this zone and drop at least to the identified support level. forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDShort
by HAMED_AZ
7
Gold Bulls are to take controlAs we had a beautiful week this week gold has shown us its value why is it called gold as well as gold is concerned currently we are expecting a Rise in price also we are experiencing a bearish shift in H1 but in M30 and M15 its not much clear that fight between both ends is on its peak now moving back to anylisis we can price is moving in an upwards channel and price has reached to its lower end price can move back to test the higher levels if it breaks below which seem pretty hard but a possibility then we will wait for the price to its daily Immediate (Physiological) support level we will wait for price to go higher bounds confluence being Bullish is --> we are bullish from Monthly to weekly to daily to H4 but on H1 its not much clear price is not showing up properly fight is on --> fibonachi confluence of current bullish impulse has retraced to 50% of price level and could go further .68% which is our daily Immediate support but over all we are bullish
OANDA:XAUUSDLong
by Wakeel_Saab
Corrected, GOLD recovered and the trend remained unchangedOANDA:XAUUSD significant downside correction and recovery from the key technical area around the 0.786% Fibonacci extension. Mainly influenced by the strengthening of the US Dollar and US bond yields, along with the easing of tensions in the Middle East were the main reasons why gold prices fell sharply on Wednesday. In addition, gold prices have recently risen too sharply, technical indicators have become overbought and part of the market has chosen to take profits. Markets are also concerned that the US presidential election in November could be competitive and it could take some time to determine a winner. Bloomberg reported that the US presidential election in November is entering its final weeks, the race between former President Trump and Vice President Kamala Harris is taking place extremely fiercely. A Bloomberg News/Morning Consult poll shows the two candidates are statistically tied in seven battleground states. In all seven states, the two candidates are neck and neck, with both candidates receiving 49% support from likely voters. The poll's overall margin of statistical error is 1%. However, the market also remains concerned that the conflict between Israel and Iran could escalate into a wider war. Despite the short-term correction, gold prices have increased more than 30% since the beginning of this year, continuously reaching new highs. Gold's rally has strengthened over the past few months as the Federal Reserve moved to reduce interest rates. Fund managers have also contributed to gold's rally, as hedge funds increased their net long positions in gold in recent sessions and investors increased their holdings of exchange-traded funds (ETFs). Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold corrected significantly after the Relative Strength Index showed gold was in the overbought area (75%). However, the correction does not bring many opportunities for further price declines as the slope of the RSI is relatively low and shows signs of bending upward, depicting a weakening sell-off sentiment. On the other hand, gold is still above the short-term trend price channel. Note to readers in previous publications on the price channel. As long as gold remains in this price channel, its short-term trend is still bullish. The lower edge of the price channel is also confluent with the 0.786% Fibonacci extension, making this an important support area. Although gold has adjusted down, all short-, medium- and long-term conditions and trends are still in favor of price increases. Notable levels will be listed again as follows. Support: 2,711 – 2,700USD Resistance: 2,741 – 2,748 – 2,758USD SELL XAUUSD PRICE 2741 - 2739⚡️ ↠↠ Stoploss 2745 →Take Profit 1 2734 ↨ →Take Profit 2 2729 BUY XAUUSD PRICE 2680 - 2682⚡️ ↠↠ Stoploss 2676 →Take Profit 1 2687 ↨ →Take Profit 2 2692
OANDA:XAUUSDLong
by Xayah_trading
2
Gold Eyes Breakout as Key Support HoldsGold prices are consolidating around the $2,714 support level, which has held strong in recent sessions. This zone acts as a critical foundation for potential upward movement. The price is currently trading within a descending wedge, a bullish reversal pattern that signals a possible breakout. Once gold breaks above the red resistance line shown on the chart, we could see a push towards $2,733 and beyond. Traders should watch for confirmation of this breakout, as it could trigger a strong bullish move, backed by firm support at the $2,714 level. Good luck to you !
OANDA:XAUUSD
by Pierce_Bowers
1
GOLD → Bullish flat (consolidation). News aheadFX:XAUUSD corrects to 2713, confirming strong support. We talked to you about the risks yesterday. Bulls have been actively buying the metal since the start of the Asian session, hinting at strong support... Further gains in gold remain dependent on the upcoming PMI and jobless claims data. Traders are awaiting information on the state of the global economy, which will influence the short- to medium-term strategy against the dollar and gold... Market nervousness ahead of key reports in the US and the presidential election will also play a role. Any potential decline in the gold price is likely to be contained for several reasons: the BRICS summit, the US elections, the ongoing Middle East conflict. In this case, gold acts as a safe haven. Resistance levels: 2748, 2758, 2775 Support levels: 2729, 2713 ATH may be tested in the near future. Further news and high volatility, high risks may provoke profit-taking, which may bring gold back to support. And after correction the growth may resume due to strong enough interest from buyers.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
XAUUSD Short term correction is in order.Gold / XAUUSD is extending the August Channel Up, having priced yesterday the latest Higher High on a +6.00% increase from the bottom. This is the start of the technical short term pull back of the Channel. The 1day MA50 hasn't been broken yet, so the price is still high enough for a good short. Target the 0.382 Fibonacci retracement at 2700, which is where the last two pull backs found bottoms. Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
2
USD/JPY: US Elections and Middle East War!USD/JPY fell towards 152.00 after reaching a 12-week high near 153.20, due to a temporary correction in the US Dollar (USD), which saw the Dollar Index (DXY) dip to 104.20. Despite this, the Dollar's outlook remains bullish, supported by positive economic data such as the October US services PMI, which exceeded expectations with an expansion to 55.3. Political uncertainty and the upcoming US presidential elections further enhance the Dollar's appeal as a safe-haven currency. In Japan, the cautious statements from Bank of Japan (BoJ) Governor Kazuo Ueda, who indicated a gradual approach to assessing inflation, suggest that further rate hikes are unlikely in the near term. This divergence in monetary policies between the US and Japan continues to support a bullish trend for USD/JPY, with the current correction seen as temporary.
Long
by Forex48_TradingAcademy
1
Is Bitcoin Price's All-Time High Dependent on Gold Rally PausingThe cryptocurrency market has been exciting as Bitcoin (BTC) inches closer to its all-time high (ATH). However, a recent surge in gold inflows suggests that a potential pause in the precious metal's rally might be necessary for BTC to reach new heights. Over the past seven trading days, gold exchange-traded funds (ETFs) have witnessed an influx of over 1 million ounces, marking the largest inflow since October 2022. This significant increase in gold demand indicates that investors seek safe-haven assets amid economic uncertainty and geopolitical tensions. Historically, gold and Bitcoin have correlated, with one asset often leading the other. In 2020, for instance, gold paved the way for Bitcoin's ascent, reaching record highs in August of that year. Subsequently, BTC followed suit, setting its all-time high in December. The current scenario, however, presents a different dynamic. While Bitcoin's price has been steadily climbing, it appears to be facing resistance near its previous ATH. Is there a potential correction in gold prices could be a catalyst for BTC to break through this resistance level and establish a new all-time high? Several factors contribute to this hypothesis. Firstly, the ongoing correlation between gold and Bitcoin suggests that a pause in gold's rally could divert investor attention and capital towards the cryptocurrency market. Secondly, a correction in gold prices could alleviate concerns about a potential asset bubble forming in the precious metal market, thereby boosting investor confidence in Bitcoin. Furthermore, the recent surge in inflows into Bitcoin ETFs highlights the growing institutional interest in the cryptocurrency. As more traditional investors allocate a portion of their portfolios to Bitcoin, the potential for a significant price increase becomes more tangible. However, it is essential to note that the relationship between gold and Bitcoin is not always straightforward. There have been instances where the two assets have diverged, influenced by various macroeconomic factors and market sentiment. Therefore, while a gold correction could provide a favorable environment for Bitcoin's price appreciation, it is not a guaranteed outcome. In conclusion, the recent surge in gold inflows suggests that a potential pause in the precious metal's rally might be necessary for Bitcoin to break its all-time high. While the historical correlation between the two assets offers a compelling narrative, it is crucial to consider other factors and remain vigilant about market developments. As Bitcoin continues its journey towards new heights, investors will be closely watching the interplay between gold and the cryptocurrency market.
OANDA:XAUUSD
by bryandowningqln
Sell ​​gold again in the 2740-2750 areaBros, yesterday, gold retreated and once fell below 2710, laying a good foundation for the decline. Although gold has rebounded to around 2740 again, compared with the previous period, the attitude of gold rising is not firm, so relatively speaking, the current gold short position is more attractive. The current rebound of gold may be a trap set to trap more bulls, so I am definitely not willing to go long on gold at present; from the technical structure, gold has signs of building a head and shoulders top in the short term. So in terms of short-term trading, I prefer to short gold. So now we can short gold in batches again in the 2740-2750 area. Bros, are you optimistic about shorting gold?
OANDA:XAUUSDShort
by Trading-Hawkeye
1