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Xauusdforexsignal

XAUUSD : Gold will bounce back stronglyXAU/USD is moving sideways and trading around 2,322 USD/ounce. According to senior market analyst Jim Wyckoff of Kitco Metals, gold prices fluctuate when influenced by external factors due to a lack of important new fundamental news. In this context, Wyckoff predicts, prices will likely move sideways about 2,300 - 2,400 USD/ounce for the next important catalyst and he believes that these catalysts will not appear until July. World gold prices weakened in the context of some US Federal Reserve (Fed) officials predicting interest rate cuts in December this year. This causes US government bond interest rates to increase to nearly 4.3%, causing disadvantages for gold - a non-yielding asset.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold will turn up again this weekXAU/USD is trading around 2,322 USD/ounce, down 11.6 USD/ounce compared to last week's result. Adrian Day, of Adrian Day Asset Management, said gold prices are recovering after last week's sell-off amid dovish US economic news, weak inflation figures and higher unemployment claims, both support cuts interest rate. Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are poised for a technical bounce from support levels. Darin Newsom, senior market analyst at Barchart, said gold's next target is $2,370/ounce, followed by resistance at $2,391/ounce.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD: Gold will grow strongly in the last 6 months of the yearWorld gold price moved sideways around 2,306 USD/ounce after falling sharply yesterday session. The gold market is under pressure as recent US economic data shows that the Fed will only have one interest rate cut this year. However, some economists note that the possibility of two interest rate cuts is still possible. According to data from the US Department of Labor, in May, the US core CPI index increased by 3.3% over the same period last year and increased by 0.2% over the previous month, both figures are lower than the previous month. compared to forecasts and decreased slightly compared to April. This shows that inflation in the US cooled faster than expected, and at the same time put pressure on the US dollar. After the report, the USD plummeted with the Dollar Index falling from 105.08 points to 104.2 points. Silver and platinum prices also skyrocketed afterward.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD: Gold will likely recover strongly at the end of the weekXAU/USD decreased slightly, currently trading around 2,314 USD/ounce. Yesterday, XAU/USD turned down after the Federal Reserve (Fed) signaled that there would only be one interest rate cut this year in the context of inflation still far from the target level. The Fed kept interest rates steady on Wednesday, while policymakers forecast just one rate cut in 2024. Jeffrey Christian, Managing Partner at American Government Group, commented: “The Fed neither lowered nor raised interest rates, so investors turned to less risky assets, including gold, thus the price of gold. increased very high and profit taking took place." Fed Chairman Jerome Powell said the inflation outlook issued by the Fed is a “rather conservative forecast,” that may not be confirmed by upcoming data and could be adjusted. Mr. Powell added that the better-than-expected CPI inflation data was something officials welcomed.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold decreased slightly then increased againXAU/USD decreased slightly and is trading around 2,312 USD/ounce. Traders are being quite cautious ahead of tonight's Fed policy meeting, because if the inflation report shows no improvement, the Fed may continue to hawkish. This means that both the USD and US yields will rise to the detriment of non-yielding assets like gold. "The next important level is 2,300 USD/ounce. If gold drops below this price, it is likely to fall back to 2,200 USD/ounce in the near future" - Ong Everett Millman, Director of Market Analysis of Gainesville Coins (san trading of precious metals in the US) forecast.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold turned up slightly again after the USD newsYesterday on June 5, world prices increased to a high of 2,357 USD and reached 2,373 USD this morning, supported by the weakening of the USD and a decrease in US government bond yields after the latest data showed changes. The labor market is very hot. According to how high According to ADP, employers added 152,000 jobs in May, much lower than forecast and the number recorded last month, and also the lowest level since the beginning of the year. RJO Futures senior market strategist Bob Haberkorn said weak labor numbers such as the coronavirus outbreak could prompt the Fed to act somewhat. According to FedWatch CME, the market believes there is about a 67% chance that the Fed will conduct its first rate hike in September, up from less than 50% last week. A low interest rate environment reduces the cost of holding gold, thereby increasing the appeal of this precious metal amid global instability. In addition, the World Gold Council (WGC) said that net purchases by global central banks increased to 33 tons in April. This is also a big driving force pushing gold prices up recently.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold will fall after today's dataThe price of gold (XAU/USD) yesterday fell more than 1.4% from a high of 2,352 USD to a low of 2,318 USD, a decrease of about 40 USD. This trend is partly due to the slight recovery of the USD, which has a negative correlation with gold. In addition, investors' attention may be shifting to the bond market as concerns about economic growth increase after recent poor data from the US. Job openings data according to the newly released JOLTS report were lower than expected with only 8.06 million in April, compared to the forecast of 8.34 million and 8.35 million in March (according to data from the US Bureau of Labor Statistics). ). This data shows that the US labor market is showing signs of weakness. The US non-farm payrolls (NFP) report scheduled to be released on Friday will be the most important event this week. JOLTS numbers lower than expected are considered a bad signal. If NFP also shows similar results, the USD will likely come under significant selling pressure, thereby supporting gold prices.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold is slightly decreasing after the increaseTechnically, the $2,360 area, corresponding to Friday's session high, is considered the closest barrier, followed by the $2,364 level. Overcoming these barriers in a convincing way can trigger the excitement of buyers and push the gold price to the $2,385 area, then towards $2,400. The upward momentum could even continue to extend to the $2,425 area, or even the historic peak recorded in May at $2,450. On the contrary, the SMA 50, currently fluctuating around 2,334 USD, will act as the first important support. The next support zone is around 2,325 USD and beyond is yesterday's session low near 2,314 USD. However, it should be noted that oscillators on the daily chart are starting to show negative signals. Therefore, a credible break-down above the 50 SMA could pave the way for stronger declines, sending gold prices to retest the $2,300 level and even the key support zone around 2,285 - 2,284 USD.
OANDA:XAUUSD
by SantaTradeGold
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