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Xauusdforexsignal

XAU Upcoming Analysis Analysis: 1. Trend Change: The chart shows a sharp rise followed by a pullback, indicating that the strong bullish momentum has paused. The price then experienced some volatility, with lower highs forming after the peak. 2. Support Levels: • The price tested the 2483.25 area, where it found support before attempting to move back up. • The price is now approaching the 2497.15 level, which could act as a potential resistance or pivot point. 3. Resistance Levels: • The peak near 2530.05 marks a significant resistance level. • Intermediate resistance may be observed around 2506.80 and 2512.50
OANDA:XAUUSD
by WhiteDevil92
XAUUSD : Gold continues to rise strongly againGold prices continued to expand their gains thanks to safe-haven demand amid concerns over escalating tensions following the assassination of a Hamas leader in Iran. The war in Gaza and the deepening conflict in Lebanon have left the entire region in turmoil. In particular, the rise of this precious metal was further boosted when US Federal Reserve Chairman Jerome Powell hinted that a rate cut could be discussed as early as September if inflation remains in line with expectations. As expected, the Fed decided to keep interest rates unchanged at this meeting. However, Mr. Powell raised investors' hopes for a possible rate cut at the September meeting. He said that policymakers are increasingly confident that inflation is moving towards the 2% target.
OANDA:XAUUSD
by SantaTradeGold
GOLD : Gold is turning around unexpectedlyGold prices ended the US session and started the new day quite calmly compared to previous developments, trading around 2,400 USD after peaking on July 24 at 2,432 USD. Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased slightly as yields decreased. But soon after, the 10-year government bond yield increased 2 bps to 4,274%, putting pressure on gold prices. Although the USD weakened slightly, the impact was insignificant. CME's FedWatch tool shows a 100% probability of a 25 bps rate cut in September; while market forecasts show that the Fed could cut interest rates by a total of 53 bps in 2024. On the economic front, the US trade balance improved more than expected, but the preliminary manufacturing PMI fell, indicating weakness. Specifically, S&P Global's July services and composite PMIs both exceeded expectations, reaching 56.0 and 55.0 respectively; while manufacturing PMI decreased from 51.6 to 49.5, lower than forecast. Investors are waiting for the release of Q2 GDP data and the core PCE index - the Fed's preferred inflation measure - to have more basis to evaluate the economic situation and guide monetary policy. Regarding forecast, Q2 GDP is expected to reach 1.9% over the same period last year, showing that the economy is accelerating. It is worth noting that inflation calculated on core PCE is expected to decrease from 2.6% to 2.5%.
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold returns to create upward momentumWorld gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election. Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce. Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
OANDA:XAUUSD
by SantaTradeGold