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Gold prices increased as the USD fell slightly awaiting the Fed In addition to Wednesday's Fed minutes, the focus was also on speeches from a series of Fed officials this week, including Raphael Bostic and Michelle Bowman, both members of the Fed's interest rate-setting committee. bank. Higher US interest rates are bad for gold because they increase the opportunity cost of investing in the yellow metal. But with U.S. interest rates still expected to fall in 2024, prices for gold and other metals are likely to surge, Goldman Sachs (NYSE:GS) analysts said in a note this week. Other precious metal prices also rose on Wednesday. Platinum futures rose 0.3% to $913.10 an ounce, while silver futures rose 0.2% to $23.192 an ounce. Both metals are also facing losses through 2024
OANDA:XAUUSDLong
by NicoTradingMaster
XAUUSD : Waiting for FOMC meeting minutes and US CPI reportGold benefits when Middle East geopolitical tensions escalate, the market waits for the FOMC meeting minutes and CPI report to determine the outlook. During the February 19 session, gold rose to nearly $2,023 as Middle East geopolitical tensions persisted but then fell back as the USD recovered. In the context of investors maintaining caution, precious metals are unlikely to break out before the release of the FOMC minutes and the US CPI on Thursday. Currently, gold is increasing slightly to $2,018. The market turned its focus to the minutes of the US Federal Reserve's (Fed) January policy meeting, scheduled for release on February 21, for more hints on when the Fed might start lowering interest rates. capacity. Atlanta Fed President Raphael Bostic said that although he needs more data to be convinced that inflationary pressures are truly easing, he is open to lowering interest rates at some point in the next few months. The market currently forecasts a 77% probability that the Fed will lower interest rates in June, according to the CME Fed Watch tool. Lower interest rates reduce the opportunity cost of holding gold.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold is recovering after PPI and CPI dataGold continues to be under pressure from strong economic data Gold had a volatile week after a series of US economic data rose above estimates Gold had a volatile week with a sharp drop from $2,031 to $1,990 on Tuesday as the US CPI report beat estimates. Precious metals recovered but then sold off slightly on Friday when US PPI data also increased more than expected, showing that the US economy is still very resilient under the pressure of high interest rates. With current economic data along with the ongoing geopolitical situation, gold prices are expected to continue to experience many fluctuations. Currently, gold is recovering to $2,017. Next week, the market will receive the FOMC meeting minutes and S&P Global PMI index on Thursday. These data will give the market a clearer view of the economy and the Fed's interest rate outlook, which could create volatility for gold.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Extending the decline to the $2,000 thresholdGold fell in price in the first half of the day, rebounding slightly before Wall Street opened but continuing to decline afterward. XAU/USD trades near a new February low at $2,011.97 despite reduced USD demand. In the absence of much important data, the focus lies on the speeches of Federal Reserve (Fed) officials. Central bankers continued to point out that inflation still needs to move closer to the 2% target and that they need more data before cutting interest rates. Fed Board of Governors member Michelle Bowman on Monday said that current interest rates are reasonable, adding that it is too early to consider reducing interest rates. Thomas Barkin and Neel Kashkari will speak soon, but the market does not expect any surprises in their speeches Meanwhile, positive stock sentiment weighed on precious metals. US indexes traded in the green, with the S&P 500 surpassing 5,000 and hitting a new record high. The market is now waiting for the US to release the January CPI report on Tuesday, at 0.2% MoM and 3% YoY. The core CPI is forecast at 3.8%, lower than 3.9% in December. Lower-than-estimated data could boost expectations for an interest rate cut in the upcoming meeting. The daily chart of XAU/USD shows that the precious metal has many opportunities to bounce back. The pair declined from around the 20-day SMA, currently around $2,028. The long-term moving averages remain well below the current price levels. Technical indicators have now crossed below the midpoint and reflect increased selling pressure. According to the H4 chart, the downtrend is clearer. XAU/USD is below all moving averages and technical indicators continue to decline and remain far from oversold. Support level: 2,009.10 1,988.90 1,976.50 Resistance level: 2,028.00 2,044.70 2,065.50
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Continued pressure after strong US PMI reportGold prices extended their decline after the PMI report exceeded estimates and the Fed is not yet ready to start the policy easing process. During the February 5 session, gold prices fluctuated strongly, rising to $2,039 but then falling sharply to $2,015 after US PMI data increased beyond estimates, showing the resilience and stability of the US labor market. Traders will closely monitor developments in the Middle East to determine the direction of the precious metal this week. Gold is currently recovering to $2,027. Along with geopolitical tensions, speeches from Fed officials next week will help the market better understand the central bank's upcoming moves, which could create volatility for gold.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD:Sellers take control after strong economic data in the USGold regained momentum and climbed to its highest since early January above $2,060 before falling sharply on Friday. Comments from Federal Reserve (Fed) officials could influence precious metals pricing next week in the absence of much key economic data. Gold increased more than 0.5% on Monday, benefiting from escalating geopolitical tensions and falling US government bond interest rates from the beginning of the week. News of a drone attack on a US base near Jordan's border with Syria that killed three people and injured more than 20 soldiers has raised concerns about the growing crisis in the country. Middle East. On Wednesday, the Fed kept its policy rate unchanged at 5.25% - 5.5% as expected. In its policy announcement, the Fed completely ruled out the possibility of additional tightening and only talked about monitoring more data to evaluate the next move. This has put the USD under downward pressure and helped XAU/USD move higher. However, in the following press conference, Fed Chairman Jerome Powell said that the bank would not consider cutting interest rates at the March meeting. After this comment, Wall Street's main indexes fell sharply. and help the USD regain its strength. Powell also said they could cut interest rates sooner if they see unexpected weakness in the labor market. After the Fed meeting, US government bond yields fell sharply in the US session on Thursday and pushed gold higher. The 10-year US government bond yield fell more than 2% to below 3.9% while XAU/USD increased above $2,060. The US Department of Labor said there were 224,000 initial applications for unemployment benefits, higher than market expectations of 212,000. In addition, ISM's Manufacturing PMI index improved from 47.1 to 49.1, with the Employment index decreasing from 47.5 to 47.1. On Friday, Gold fell sharply and reversed most of the gains following the January jobs report. NFP data increased by 353,000, well above market expectations of 180,000. Additionally, annual wage inflation has increased to 4.5%. The 10-year US government bond yield later recovered to 4% and XAU/USD dropped below $2,030. ISM will release the January Services PMI report on Monday with an expected increase from 50.6 to 52.0 in December. The Employment Index fell sharply from 50.7 in November to 43.3 in December, indicating that the sector's payrolls The service sector is declining. This decline could pressure the dollar, while a recovery to 50 or above could boost the greenback. The economic calendar next week does not have many important events for Gold traders. Instead, traders will focus on statements from Fed officials. Although Powell has essentially ruled out a rate cut in March, the FedWatch Tool shows that markets are still pricing in a 20% probability of a bank pivot at the next meeting. The USD is likely to appreciate in case Fed officials continue to reject this expectation. On the other hand, XAU/USD could regain traction if policymakers leave open the possibility of cutting interest rates next month. However, that is unlikely to happen after the impressive jobs report.
OANDA:XAUUSD
by SantaTradeGold
GOLD ( XAUUSD ) Long Term Buying Trading IdeaHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexPlanet20
XAUUSD: Waiting for US economic data to determine the trendThe Federal Reserve ended its first meeting of 2024 with a decision to leave interest rates unchanged. The FOMC also abandoned its tightening stance but said it would not consider cutting borrowing costs. Chairman Powell said that officials are not confident enough in the data to pivot at the next meeting. Although the possibility of a rate cut in March has decreased, the situation could change if upcoming information proves to be surprising. Overall, a weaker economy could cause policymakers to reconsider their stance; After all, reliance on data is the guiding principle of central banking. Given the current situation, the US January jobs report will be of great importance. Wall Street forecasts show U.S. employers adding 180,000 jobs last month, but a lower actual figure would not be surprising after a decline in ADP and unemployment claims increase. If the NFP report misses estimates, the March rate cut could be reconsidered. In this case, US government bond yields and the USD could fall sharply, providing support for gold in the short term. On the other hand, if NFP figures exceed estimates, the market will continue to underprice a rate cut. In this scenario, government bond yields and the greenback could increase sharply, putting pressure on precious metals. In this context, bullion may face many difficulties in February. On Thursday, gold broke through the $2,050 barrier and approached a key ceiling at $2,065. In case the precious metal breaks above this level, the price could rise to $2,085, then $2,150. Conversely, if XAU/USD reverses to the downside, traders will need to watch $2,050. If this area is crossed, the price could drop to the 50-day SMA, after which a retest of $2,005 could be possible. Below this floor, the price target will move to 1,990.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold price waits for important macro data Gold prices are currently trading around $2,030 on Tuesday morning as the market awaits US jobs data and tomorrow's FOMC meeting. Gold prices are currently trading around $2,030 on Tuesday morning amid the effects of geopolitical tensions in the Middle East and market expectations about interest rates ahead of the FOMC meeting. Currently, traders are still waiting for US employment data and the FOMC meeting tomorrow in the context of market sentiment gradually shifting to risk-off due to developments in the Red Sea. Specifically, Sky News reported that US President Joe Biden may authorize military action in the Middle East. This is a response to the killing of three US soldiers by a drone attack on forces stationed in northeastern Jordan near the Syrian border. In the above context, the price of gold - a traditional safe haven - received a lot of support and had a strong reversal on Monday, hitting $2,030 when US government bond yields dropped sharply. The current focus is on US employment data, which will be the last macro data released before this week's FOMC meeting. The market currently expects the Fed to keep interest rates unchanged at its next meeting and is 46% that the Fed will begin reducing interest rates at its meeting in March. However, Fed Chairman Jerome Powell's speech after the meeting on tomorrow will be carefully evaluated by the market to have more information about future interest rates. On the daily chart, gold prices closed back above $2,030, the intersection of the 21-day and 50-day SMA. However, buyers are currently facing resistance at $2,038. However, the RSI indicator is also gradually returning to level 50, providing support for buyers. If bullish momentum consolidates and takes the price above $2,038, the psychological threshold of $2,050 will come into view, beyond which is the December 12 peak at $2,062. Conversely, if the price turns down again to the previous day's low at $2,018, gold could re-adjust to the support zone of the rising trend line at $2,012.
OANDA:XAUUSDLong
by SantaTradeGold
1
XAUUSD : Waiting for important economic data this week!World gold prices traded in range at the beginning of the week as investors awaited upcoming important economic data reports. Over the past week, gold has had strong fluctuations, rising to $2,034 and then falling to $2,012 following the PMI release on Thursday. After that, gold mainly traded within the $2,014 - $,2,024 price range from the weekend until now. Currently, gold is rising to $2,021. This week, economic reports and interest rate decisions from the Fed will give gold the momentum it needs to break out. With the PCE index continuing to decline, the Fed may consider adjusting interest rates and supporting precious metals.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold is continuing to fall this weekGold prices swept two-way after the announcement of US GDP, falling to $2,014 but then recovering and ending the session at $2,017. The market is now awaiting upcoming PCE data to determine the Fed's next move. During the January 25 session, world gold prices dropped to $2,014 after the fourth quarter US GDP report was higher than expected, showing that the world's largest economy is still operating stably. In case the price rises, the bulls need to scale the resistance at $2,025 and then $2,039 to move towards the current price target of $2,050. On the contrary, the bears are targeting the $2,004 support to push the price down to $2,000. Currently, gold is increasing slightly to $2,022. Today, the market will receive US PCE data for December with an expected increase of 0.2% in December. Data higher than estimates could make the Fed reconsider its current policy and push gold down further. . Gold investors will closely monitor the Fed's interest rate decision next week as the bank is expected to leave interest rates unchanged.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Gold fell sharply after the PMI dataThe USD and Gold futures fell as investors waited for two important economic reports USD and gold both fell today as investors waited for two important economic reports later this week. Tomorrow the US Q4 GDP report will be released and will be followed by the PCE report for December on Friday. On Thursday, the Commerce Department will release its initial GDP estimate. In the Dow Jones survey, economists predicted that the total value of all goods and services produced in the United States will increase 1.7% for the final quarter of 2023. On Friday, the Bureau of Economic Analysis will release its latest information on inflation, releasing its PCE index for December. Core PCE is expected to increase 0.2% on the month and 3% year-over-year. If actual figures match estimates, the PCE figure will fall from 3.2% in November to 3% in December. This will be a strong sign that inflation continues to decline. Both USD and gold fell slightly, but have since recovered from their intraday lows. Today's report showed business sales increased in January and inflation appeared to have fallen sharply as prices fell to their lowest level in more than 3.5 years. The DXY index fell to 102.78 and currently stands at 103.276. Gold futures reached a bottom of $2011.70 and are currently standing at $2016. If tomorrow's Q4 GDP and Friday's December PCE report are in line with estimates, the Fed will have reason to believe inflation is approaching its target level. According to CME's FedWatch tool, there is only a 1.6% chance of a rate cut this month and a 41.3% chance of a 25bps cut in March. There is a strong possibility that the Fed will begin cutting interest rates during the meeting. FOMC meeting in May or before. The forecast tool has a 10.7% chance that the Fed will move its benchmark interest rate to between 4.75% - 5%, a 55% chance that it will be between 4.5% - 4.75%, and a 33.8% chance of a gain. Rates are in the range of 4.25% - 4.5% after the May meeting.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Waiting for the interest rate decision of central banksGold prices stabilized as the market awaited the meeting of major central banks this week. After last week's decline, gold prices are stabilizing as the market awaits central banks' interest rate decisions and upcoming economic data with resistance currently located at $2,040. In case the resistance cannot be overcome, gold could be pushed towards the $2,005 support level. Currently, gold is slightly down to $2,027. In the long term, gold will be boosted as the Fed cuts interest rates and geopolitical tensions continue to linger. Gold ETF fund activities: The SPDR Gold Shares fund had no action on January 23. The fund's holdings remained at 858.93 tons. Currency: DXY continues to be supported as the market discounts the Fed rate cut, pushing EUR, GBP, and AUD lower. The upcoming interest rate decisions of the ECB and BoJ could create volatility for major currency pairs.
OANDA:XAUUSDLong
by SantaTradeGold
xauusd: Will gold reach 1900?Hello friends, I'm Luke, a former champion trader in multiple regions. I'm excited to join TradingView and share my strategies with you every day, hoping to provide assistance. Gold has continued its downward trend this week, with further pressure expected due to the renewed rise in DXY. Personally, I anticipate another decline in gold, so my trading advice for the near term is to wait for an upward movement before continuing to short. Key resistance levels to watch are 2040-2050-2060. Scaling in short positions can be considered upon reaching this area, with target zones focused on 1980-1960-1940. I update market analysis daily and also send accurate trading signals within Luke's group to help ensure the long-term stability and profitability of your account. Don't miss out!
FOREXCOM:XAUUSDShort
by LukeBailey
1
XAUUSD : Gold prices are expecting interest rate cuts.Slightly lower as economic data continues to improve, awaiting interest rate decisions from central banks. Gold prices fell slightly today as the market lowered expectations for interest rate cuts and the US stock market recovered. During the January 22 session, world gold prices decreased slightly when US economic data was better than expected and the market lowered expectations for interest rate cuts. The recovery of the US stock market also limited the recovery momentum of precious metals. In the long term, when the Fed decides to cut interest rates, gold will gain the necessary momentum to break out. Currently, gold is falling slightly to $2,020. Looking ahead, the market will receive the US's fourth quarter GDP report, along with interest rate decisions from the ECB, BoJ, and Canada.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold is recovering after a sharp decline.Waiting for interest rate decisions of major banks this week. Gold steadies as the week begins, major central bank interest rate decisions and the upcoming US core PCE index could create volatility for the USD and gold. World gold price is currently increasing slightly to $2,030 after a sharp decline last week. The main barrier to gold's current increase is still the USD and US government bond yields are still high. In the long term, gold remains the favored asset as geopolitical tensions escalate and central banks reduce interest rates. This week, the market will receive the US manufacturing PMI report on Tuesday, the core PCE index on Friday, and the interest rate decisions of the ECB and BoJ. These data points will help shape the trend of USD and gold in the near future.
OANDA:XAUUSDLong
by SantaTradeGold
GOLD : Gold has not yet successfully tested support at $2,021After testing the 2021 support zone, gold increased slightly and then returned to the 2021 zone again. The 10-year US government bond yield has now increased above the psychological level of 4.0%, which has helped the US dollar increase sharply compared to most other currencies. This also caused a strong impact on XAU/USD as the gold price fell more than 1.25% in just one day. In addition, the USD's upward momentum was also reinforced by the market's reassessment of the interest rate outlook after Fed Governor Christopher Waller said that policymakers will not rush to cut interest rates until there is a clear signs that inflation can be maintained at a low level. In addition, with the US economy still maintaining a good level, the Fed may not loosen monetary policy significantly this year. Gold fell sharply on Tuesday, and is now approaching the 50-day SMA around $2,010. If buyers fail to hold this support, the bearish momentum will increase and bring the price back to the $1,990 threshold, and beyond to $1,975. Conversely, if the buyers return and create a bullish reversal, the first resistance will be at the $2,045-2,050 zone. The price may have difficulty overcoming this resistance zone. However, if buyers succeed in overcoming resistance, it will open up the potential for a rally to the December peak at $2,085.
TVC:GOLDLong
by NicoTradingMaster
XAUUSD : Buyers are gradually regaining their positionGold fell below $2,025 in the European session after being sold off on Tuesday. XAU/USD is under pressure as the USD moves higher amid escalating geopolitical risks in the Middle East and reduced market expectations for a sharp Fed rate cut in 2024. On frame D1, selling pressure increased sharply after sellers successfully tested the 21-day MA support at 2,046 USD. The bearish momentum continued to strengthen after XAU/USD closed Tuesday's session under Symmetrical Triangle support near $2,031, with the RSI remaining below 40 and slightly down. Immediate support to watch is the 50-day MA at $2,021, with the next target at $2,010. If these areas are successfully tested, gold will be sold off to the $2,000 area. On the contrary, for gold to recover, the first target for buyers is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and Triangle resistance). mentioned above) and the 2,050 USD mark.
OANDA:XAUUSD
by NicoTradingMaster