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"Gold Rises on Fed Rate Cut Speculation Amid US Inflation Dip"Gold prices on Comex are nearing a three-week high at $2,089 USD, propelled by a surprising drop in the US core PCE price index to 3.2%. This unexpected shift has increased bets on an early Fed interest rate cut, with over 75% probability priced in by March, according to CME Fedwatch. The decline in inflation provides a favorable starting point for the Fed in 2024, potentially leading to a soft economic landing without triggering a recession. Durable goods orders for November surpassed expectations, rising by 5.4%, boosting consumer confidence reflected in the December Consumer Sentiment Index reaching 69.7. Anticipation of a significant Fed rate cut has weighed on the US dollar and short-term treasury yields, impacting foreign capital inflows negatively. The US Dollar Index is at a five-month low below 101.50, while the 10-year US treasury bond yield dropped to around 3.87%. This week's economic calendar is light due to the holiday season, with attention on weekly unemployment claims for additional insights.
FOREXCOM:XAUUSD
by Larissa-Trader
#XAUUSD: Gold can still shock all of us with a sudden move! Dear traders, As expected we are seeing some strange move within the market due to the low volume, based on our last chart price did fall but failed to continue the selling momentum and idea hit breakeven. In here, there are two possibilities that price can go first from sellers bias we think price still can drop from 2040$ area which will remain crucial, though, looking at how price moved throughout today. It shows bulls are still within the market and bullish momentum was significant. So it would not be surprising if price breakthrough 2060$ region once again. Please like and share!
OANDA:XAUUSD
by Setupsfx_
3
Gold Aiming for $2,100 After Record Close at $2,070Following a record close at $2,070, gold is pushing towards $2,100 in the Asian trading session. The dovish Fed stance and strong US bond auctions are impacting Treasury yields and the US dollar. The 14-day RSI provides support, but a recent dip suggests a potential pullback to the 21-day SMA at $2,032, with $2,050 acting as a key level. To sustain the upward momentum, a solid breakthrough above $2,079 is essential for a continued recovery towards $2,100, with a target of $2,144. Market dynamics call for vigilance around support and resistance levels, defining the trajectory of gold prices in the near term.
FOREXCOM:XAUUSD
by Larissa-Trader
Gold's Rally Eyes $2,100 amid RSI Strength and Trend Analysis The 14-day Relative Strength Index (RSI) continues to hold above the midpoint, providing potential support for further price increases. However, the latest downturn in the RSI suggests that the downward momentum in gold prices may extend towards the 21-day Simple Moving Average (SMA) at $2,032. Prior to that, the $2,050 level will pose a challenge to bullish commitments. On the upside, a sustained breakthrough above the resistance level of the ascending trendline at $2,079 is crucial to continue the recovery momentum towards the psychological level of $2,100. Furthermore, gold buyers will target the all-time high of $2,144. The RSI's current positioning suggests a cautious outlook, indicating the possibility of a pullback. Traders will closely monitor the $2,050 and $2,032 levels as potential support zones. A decisive move above $2,079, on the other hand, would signal renewed strength in the bullish trend, paving the way for a potential test of the $2,100 and $2,144 levels. It's essential for market participants to stay vigilant and adapt their strategies based on the evolving price action. The dynamics between key support and resistance levels will play a crucial role in determining the next major move for gold prices.
FXOPEN:XAUUSD
by AdmamTrade
Go long on gold directly, take profit around 2000 It is normal for gold to fall back if 1984 enters the market to go long, but the K-line obviously still has support. At the same time, 1983, 1982, 1981 and 1980 can all enter the market in batches to go long. The K-line will definitely reach 2000 points today. The signal of gold bottoming out, especially the bullish engulfment on the hourly line, is that the big positive line directly covers the negative line entity, and small positive lines continue to appear. This is an obvious bottom signal. The 50 moving average also shows an obvious reversal upward, and the big positive line is stable. Above the 50 moving average, directly crush it, and directly go long in 1984 Operation strategy: long gold at 1984, stop loss at 1976, target at 2000
OANDA:XAUUSDLong
by Short-term-trading-king
Xauusd:Non-farm payrolls data will choose the direction The number of people applying for unemployment benefits announced yesterday rose to 220,000 at the beginning of the week ended December 2, slightly lower than the expected 222,000.The number of people renewing unemployment benefits in the United States fell to 1.86 million in the week ended November 25, the largest decline since July and the second decline since early September. The number of layoffs in challenger companies increased by 45,500, much higher than the previous value of 36,800. These signs all show that the decline in the US labor market is obvious, and it also provides confidence for the Fed to end interest rate increases, but it still needs today's important non-farm payrolls data to be truly determined. Judging from the chart, gold has been fluctuating within the range I reminded for the past two days, indicating that gold is also waiting for today's data to choose the direction. If today's non-farm payrolls data is good for gold and gold breaks through 2040, you need to pay attention to the resistance of 2050-2060. If today's non-farm payrolls data is unfavorable for gold, gold may fall below 2010 again Today's data will determine the direction of gold. Today is already Friday. Cautious traders can wait for the data to be released or follow the trend next week before trading. If you are trading now, continue to observe the 2020-2040 range volatility and strictly set the stop loss, so that your success rate will be greatly increased If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSD
by UnknownUnicorn64583787
Gold Detailed Analysis Strategy On the daily chart, after gold surged higher and fell back, the 5-day moving average changed from an important support line for this round of rise to the main pressure line for the short-term trend. The gold price rebounded on Monday and Tuesday, but encountered resistance and fell back at the 5-day moving average. It is currently running to around US$2035, and the other 10-day moving average runs to US$2031, forming short-term pressure during the day. The current rebound in gold prices is hindered here. The 5-day moving average golden cross is downward, and the downward trend is slightly slowing down. The KDJ indicator is dead cross downward, the RSI indicator is flat after the dead cross, and the MACD indicator is beginning to form a dead cross above the zero axis, indicating that the gold price is in a correction after a continuous rise. finishing stage. Operation: long around 2020, short around 2040
OANDA:XAUUSDLong
by Short-term-trading-king
Gold 2025 goes long directly 2025 long entry Keep the bottom line in 2019, let’s make more adjustments, it’s that simple At present, the K-line is falling back, which is a normal trend, but the overall trend is still above the big positive line. The K-line is still above the 50 moving average. The one below that stabilizes the bottom line is the 2019 line. If it does not break, it will not stand. In 2025, directly increase the position and go long. Operation strategy: long gold in 2025, stop loss in 2019, target 2050
OANDA:XAUUSDLong
by Short-term-trading-king
1
XAUUSD Longs from 2040.000 up towards 2080.000Effectively overpowering any attempts by sellers to intervene. Consequently, new all-time highs (ATHs) have been established, suggesting a continued upward trajectory for gold. Despite the possibility of a significant reversal due to reaching the ATH (a substantial liquidity point), the current presence of bullish candlesticks on the higher time frames indicates that a downturn is not imminent. Considering the prevailing bullish sentiment, my inclination is to adopt a buying bias, particularly around the nearby demand zone near 2040, which has caused a BOS to the upside. With this setup in place, I anticipate a swift pullback to that region, creating opportunities for engaging in pro-trend trades on the upward movement. Confluences for XAUUSD Longs are as follows: - Price has been impulsively bullish to the upside carrying lots of momentum. - Overall trend on the higher time frame and lower time frame both show a bullish trend. - ATH's has been taken so I can see a minor correction occurring to fill imbalance below and then mitigate my 8hr demand zone I have marked out. - Price has left a clean 8hr demand below that has caused a BOS to the upside. - Dollar is also currently bearish so I can expect gold to keep on rising. P.S. Given that a majority of individuals have now validated a comparable bullish inclination, I foresee the possibility of a price reversal at this point. The sweeping of significant liquidity, particularly at all-time highs (ATHs), could potentially mark the initiation of a short-term bearish trend. However, it is imperative to closely observe and await price movements to reveal its intentions, allowing us to determine our course of action.
OANDA:XAUUSDLong
by Hassan_fx