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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
GOLD ( UNDER UPWARD PRESSURE ) ( 4H )XAUUSD HELLO TRADERS INTRODUCTION : gold price rose during trading on Monday , after us president joe Biden formally announced his withdrawal form the presidential race last evening . Tendency , the price is under bullish pressure until trade above turning level . TURNING LEVEL : the price of turning level around 2,392$ , indicates the price trade above this level reach a resistance level , but if breaking this level reach a support level . RESISTANCE LEVEL : around 2,420$ , for reach this level will be stabilizing above turning level SUPPORT LEVEL : support level at 2,365$ , for reach this level will be breaking and stabilizing below turning level . PRICE MOVEMENT : the price is under bullish pressure , as long as the price trading above 2,392$ reach a resistance level (1) at 2,420$ , then it is requirement breaking FVG for reach resistance level (2) at 2,442$, but if breaking turning level reach a support level (1) at 2,365$ , it is a strong support level , the breaking this level reach a support level (2) at 2,337$ . TARGET LEVEL : RESISTANCE LEVEL : 2,420$ , 2,442$ . SUPPORT LEVEL ; 2,365$ , 2,337$ .
OANDA:XAUUSDLong
by ArinaKarayi
XAUUSD : Gold is recovering after a sharp declineWorld gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal consumption expenditure index report may not create large price fluctuations. Although gold is likely to decline in the short term, some experts say that will not affect the medium-term prospects of this precious metal. Accordingly, optimistic opinions are that the decline will not last long and gold is still strongly supported by interest rate expectations, geopolitical situation along with uncertainties surrounding the elections.
OANDA:XAUUSD
by SantaTradeGold
GOLD ( AFTER ATTACKING YEMEN & ISRAIL ) ( 1D )XAUUSD HELLO TRADERS Tendency , the price is under bullish pressure until trade above turning level TURNING LEVEL : the price of turning level around 2,391$ , indicates the price trade above this level reach a resistance level ( inside supply zone ) , but if breaking this level or breaking FVG reach a support level . RESISTANCE LEVEL : around 2,425$ and 2,468$ , if the price trade above turning level reach this levels . SUPPORT LEVEL : support level between 2,331$ and 2,299$ and called ( demand zone ) , for reach this level will be breaking and stabilizing below turning level . PRICE MOVEMENT : in the previously price rising and created a new historical peak at 2,485$ , but after breaking 2,368$ , gold started a dropping as mentioned , currently price 2,400$ , if the price trading above turning level at 2,391$ , rising to reach a resistance level 2,425$ , then stabilizing this level reach a 2,368$ , if the price stabilizing above 2,368$ maybe it will reach a new historical peaks at 2,500$ , breaking turning level reach a support level at 2,331$ , and by open 1D candle below this level reach a 2,299$ . TARGET LEVEL RESISTANCE LEVEL : 2,325$ , 2,365$ . SUPPORT LEVEL ; 2,331$ , 2,299$.
OANDA:XAUUSDLong
by ArinaKarayi
XAUUSD : Will falling gold create strong momentum in the future?XAU/USD has fallen for two consecutive sessions since hitting a new peak at $2,483, suggesting traders are taking profits after gaining more than 8.0% in the past three weeks. In the medium term, the general trend is still up, but the RSI indicator on the daily chart is turning down, showing that investors are somewhat cautious as the gold price gets closer to the 2,500 USD mark. In the short term, XAU/USD may continue to fall deeply if it does not quickly regain the $2,450 mark. If selling pressure remains overwhelming, gold prices may move towards the July 5 high at $2,392 after breaking through the $2,400 mark and then the $2,350 mark. On the contrary, if XAU/USD successfully surpasses 2,490 USD, conquering the 2,500 USD mark is completely feasible.
OANDA:XAUUSD
by SantaTradeGold
Gold is looking for new peaks for itselfIn his latest speech, Fed Chairman Jerome Powell once again expressed a dovish stance, but it could go in either direction. As has been pointed out many times, gold appears to be very sensitive, with just the slightest impact being able to push gold prices to new record highs in any given week. Robert Minter, Chief Strategy Officer of abrdn, said that inflation is only half the reason for this price increase, the other half is the weakness of the economy. "There is a basis to cut interest rates in September. If you look at the current high level of consumer debt, even a little pressure on the labor market can cause serious problems for the economy. I don't think we're going to see a recession, but it all depends on the Fed. They're a little late, but it's not too late to do something." Despite supposedly positive economic data, economic optimism seems increasingly foolish. We supposedly avoided a Volcker recession, but have we really? Or is the media downplaying how bad the real situation is? Could a devastating recession begin after the Fed starts lowering interest rates? That's often what happens, as Ryan McMaken warns us - the reason "soft landings" are so elusive is simply because they're impossible, "But there are two problems with the "soft landing" story: The first is that the Fed has never done this in the past 45 years. Normally, the Fed denies a recession until it happens. Then, the Fed reduces Interest rates on unemployment have begun to rise." The market has high expectations that the Fed will reduce interest rates. The CME FedWatch tool shows an over 90% probability of this happening. According to expert Carsten Fritsch, the market is predicting that the Fed will reduce interest rates in September and may reduce it again before the end of the year. Based on these, Fritsch thinks gold has all the elements to test and could surpass record highs this week. And all of this is still in the short term. As we approach the end of the year, gold will exit its weakest quarter and enter the election cycle, a period that is expected to be turbulent even by the standards of the past twenty years. The dynamics driving gold prices are changing, and investors should stay one step ahead. In the latest report, Incrementum AG's Ronald Stoeferle notes that gold investors should pay attention to the changes driving the gold market. (This is not to say that the old factors are disappearing. Inflation and currency depreciation will still ensure gold's appeal, and any discussion of safe investments must include Yellow.)
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold is at its historic peakWorld gold prices continue to climb and are at a historic peak due to the further weakening of the USD. According to the CME FedWatch tool, the market is betting on a 100% chance that the US Federal Reserve will cut interest rates on September 18. Earlier this week, Fed Chairman Jerome Powell said that recently released data "increases confidence" that inflation is falling sustainably toward the Fed's target level. Many Fed policymakers also said they are increasingly optimistic that price inflation is on track and falling toward the 2% target mark.
OANDA:XAUUSD
by SantaTradeGold
GOLD : Gold is increasing fearfullyIn an interview with Kitco News, Robert Minter, Chief Investment Strategist at abrdn, said that Fed Chairman Jerome Powell's testimony before Congress last week appears to be the turning point the market has been waiting for. long time ago. During a two-day hearing on Capitol Hill, Fed Chairman Jerome Powell told Congress that risks to the economy now hang in the balance. "Rising inflation is not the only risk we face," Mr. Powell emphasized in prepared remarks. Immediately after these comments, gold prices held the $2,400 support level and even surpassed the peak of the two-month accumulation period. The August gold futures contract set a new record at a price of 2,470.20 USD/oz. This breakthrough took place in the context that the market was almost completely confident that the Fed would reduce interest rates in September. Mr. Robert Minter, Director of Investment Strategy at abrdn, said he was not surprised by Powell and the Fed shifting their focus away from inflation. He noted that rising consumer debt in a high interest rate environment could pose significant risks to the economy.
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold is heading towards new heightsThe daily chart shows that gold still has room to expand its upward momentum. XAU/USD is trading significantly above all SMAs, which are steeply sloping up. At the same time, technical indicators are also increasing rapidly, moving deeper into the overbought zone but showing no signs of slowing down. Based on the H4 frame, gold is in the overbought zone in the short term, but the possibility of a downward adjustment is still unclear. The 20 SMA is strongly sloping up, providing dynamic support around $2,420. The two SMA lines 100 and 200 are also following and pointing up. Finally, the Momentum indicator maintained an uptrend at a high level, but the RSI indicator entered the overbought zone and showed signs of slowing down. Therefore, gold may be under some short-term profit-taking pressure before contemplating the next increase. Potential support levels are $2,448, 2,435, and $2,422, respectively. Conversely, the next resistance levels to watch out for are $2,480 and $2,500.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold will find its old peak within the weekWorld gold moved sideways around 2,427 USD/ounce in the early trading session this morning, a number of important economic reports will be announced by the US this week. However, experts predict that the gold market will not change much after these reports. FxPro senior market analyst Alex Kuptsikevich said that the fact that XAU/USD remains firmly above the 2,400 USD/ounce mark is a good sign. Expectations that the Fed will soon cut interest rates are increasing, which underpins the price of gold - a non-yielding asset.
OANDA:XAUUSD
by SantaTradeGold
GOLD ( STABILIZING ABOVE FVG) ( 4H )HELLO TRADERS TENDENCY : generally the price stabilizing above turning level , indicates is under bullish pressure TURNING LEVEL : the price between 2,395 $ and 2,383 $ and called a FVG , as long as the price trading above this level reach a resistance level , breaking this level trying to touch a support level . PRICE MOVEMENT : the price in previously can be breakout resistance level at 2,365$ , after stabilizing this level rising to 2,392$ , trying to retest at 2,350$ , after again rising to 2,424$ , know currently price at 2,412$ , my goal resistance level at 2,425 $ . PRICE ACTION : LONG CONDITION : have two cases to rising for reach a resistance level , first case the price toward directly reach a resistance level at 2,425$ , second case price corrective a turning level inside FVG between 2,395$ and 2,383$ before rising . SHORT CONDITION : if the price breaking FVG at 2,383$ by open 4h candle below this level reach a support level at 2,364$ , then stabilizing below this level reach a 2,337$ . TARGET LEVEL : LONG CONDITION / RESISTANCE LEVEL :2,425$ , 2,440$ SHORT CONDITION / SUPPORT LEVEL : 2,365$ , 2,337$
OANDA:XAUUSDLong
by ArinaKarayi
XAUUSD : Gold increased sharply at the end of the year?Although the PPI index last week somewhat restrained the excitement, gold was still able to hold the important support level of 2,400 USD/ounce. Coming into the new week, world gold prices were under pressure from investors to take profits at the beginning of this morning's session when ECB officials announced that the central bank could cut operating interest rates again in the end. 2024. It is likely that many ECBs will not be able to lower interest rates at this week's meeting on July 18, but possibly in September. This may have led to an increase in expectations for a similar move with the FOMC and opening shows a clearer trend of interest rate cuts. Carsten Fritsch, commodity analyst at Commerzbank, expects that gold will find its historic peak again this week when the gap is only about 40 USD/ounce. Because after recent developments, from both data and Mr. Powell's statements, the possibility of cutting interest rates in September is higher than ever. However, many experts say that investors should also be cautious because Q2 economic information is about to be announced in the US and Europe from now until the end of July. If the economic data is positive, gold can will likely be under pressure to make room for other risky assets, typically stocks.
OANDA:XAUUSD
by SantaTradeGold