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XAUUSD : Gold has the ability to reach new heightsMore progress in deflation remains to be seen Chicago Fed President Austan Goolsbee welcomed the drop in inflation in April but said deflation progress needs to be firmer. Speaking Wednesday after the CPI excluding food and energy prices fell for the first time in six months, Goolsbee expected more such good data to come before making a decision to cut interest rates. “Inflation data improved quite a bit compared to what we expected, but still higher than where it was in the second half of last year,” Goolsbee said in an interview on the radio show Marketplace. “Because So, more progress still needs to be recorded in the deflation process.” The Chicago Fed president, who is not voting on policy this year, called the deflationary path bumpy and pointed to housing inflation as a key indicator he is watching. Fed officials have downgraded expectations for a first rate cut, stressing the need to keep rates high for longer amid persistent inflation.
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by SantaTradeGold
XAUUSD : Gold is pushing towards record territoryGold prices steady amid mixed US PPI data, investors ready for tonight's CPI data Gold's rally continues after falling on Monday at $2,357, but has yet to surpass the recent high of $2,378, recorded on May 10. This could cause the XAU/ USD moves sideways within a certain price range. According to the RSI indicator, the current trend is beneficial for investors holding gold. Therefore, the first level of resistance for XAU/USD will be the high of May 10, which is $2,378. If surpassed, the next level will be $2,400, followed immediately by the April 19 high of $2,417 and the historical peak of $2,431. Conversely, if bears prevail and push the price below $2,359, it could lead to a decline to the May 9 low of $2,306, then to $2,300. Once crossed, the next stop will be the 50-day SMA at $2,249.
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by SantaTradeGold
XAUUSD : Gold is still expected to increase in the near futureWorld gold price (XAU/USD) increased nearly 1.5% at one point last weekend, reaching a high of $2,378 before closing at $2,360. This is the second consecutive rising session since the previous sideway period. This precious metal broke out strongly in the context of geopolitical tensions showing signs of escalating in Gaza when peace negotiations between Hamas and Israel in Cairo failed. Gold demand is also driven by concerns about the US labor market. Recent economic data has shown signs of weakness, fueling speculation that the Fed may lower interest rates sooner than expected, thereby stimulating demand for gold. Besides, globally, the general trend of central banks is shifting to reducing interest rates or at least, they are showing that they are ready to lower interest rates. The interest rate environment shows signs of peaking and starting to gradually decrease, which also creates a push for gold prices. Centrally, the Fed's monetary policy is always adaptive to the situation and based on the latest data. Therefore, the timing of interest rate cuts may change depending on inflation developments, if inflation decreases or increases faster than expected. This week's CPI report will be in focus as this data point could have a significant impact on gold prices. Mr. Jim Wyckoff, Senior Market Analyst at Kitco News, commented: "If this week's inflation data is high or even moderate, the likelihood of the Fed cutting interest rates as early as September will decrease. go significantly."
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by SantaTradeGold
XAUUSD : Gold is turning around and increasing stronglyThe number of applications for unemployment benefits increased, but will the Fed "turn around" to reduce interest rates? Gold prices regained momentum on Thursday and rose more than 1% as US government bond yields fell, reducing the appeal of the USD. Weaker U.S. labor market data raises the possibility of the Fed cutting interest rates despite dealing with inflationary pressures. Gold prices traded above $2,330 after bouncing from the day's low at $2,306. On Thursday, the U.S. Bureau of Labor Statistics (BLS) said the number of Americans filing for unemployment benefits rose more than estimated and an earlier report suggested the economy was weakening. This could influence the Fed in future monetary policy decisions after admitting that it is focused on dual goals - ensuring employment and inflation. Meanwhile, a slew of Fed officials appeared in the news this week. San Francisco Fed President Mary Daly said getting inflation down to the Fed's target will be a difficult road. She added that the past three months' data left policymakers uncertain about future inflation. On Monday, Richmond Fed President Thomas Barkin commented that recent data were not very encouraging, and emphasized that inflation control was not yet complete. Elsewhere, New York Fed President John Williams noted that consumers are still spending, showing that the economy maintains strength despite slowing growth. On Tuesday, Neel Kashkari, President of the Minneapolis Fed, predicted that the most likely scenario would be to keep interest rates unchanged in 2024, and said progress in curbing inflation had stalled. Yesterday, Boston Fed President Susan Collins also spoke up. She expressed optimism about being able to bring inflation down to the target level of 2%, and emphasized that the current monetary policy is well-oriented and moderately tightened.
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by SantaTradeGold
XAUUSD : Gold is too safe until the end of the weekThe world gold price is currently trading around 2,310 USD/oz and is still in a short-term sideway phase. It's clear that the USD's recovery due to recent "hawkish" statements by Fed officials is creating certain resistance. According to TD Securities commodity strategist Daniel Ghali: "The market is currently 'waiting for a push' to break out, but the downward momentum seems to be limited by the caution of fund managers. " This comment shows that the general psychology of investors is cautious due to the lack of clear signals about market trends. On the other hand, according to the World Gold Council, in April, PBOC bought an additional 1.9 tons of gold, recording the 18th consecutive month of net buying. In fact, the pace of net gold purchases by many central banks in Asia, including the PBOC, has slowed down. However, with net buying still occurring, this is still creating momentum for gold. In the long term, many experts still predict that gold is in an "uptrend" and could rise to 3,000 USD/oz (more than 90 million VND/tael) next year and possibly even to 4,000 USD/oz (more than 120 million VND/tael). VND/tael) and even more than 10,000 USD/oz (more than 300 million VND/tael) in the following years.
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by SantaTradeGold
XAUUSD : Gold waits for a strong breakthroughGold prices opened the week with a positive signal, recording a slight increase. However, investor sentiment became more cautious due to mixed comments from Fed officials about the upcoming monetary tightening roadmap, while also being pressured by the upward trend of the USD. The sparse US economic calendar will keep investors focused on the speech from Fed officials this week, following the US jobs report released last Friday. ActivTrades senior analyst Ricardo Evangelista said that employment data is much weaker than forecast and slowing wage growth will cause the FED to consider loosening monetary policy soon. After the data was released, the CME FedWatch Tool showed that the likelihood of the Fed cutting interest rates by 0.25% in September increased from 55% before the report to 85%.
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by SantaTradeGold
XAUUSD : Gold will likely return to its old peakWorld gold price yesterday recorded a high of 2,332.22 USD and closed the session up nearly 1% to 2,323.99 USD. Do you find it strange? This number must have been chosen by the driver. Along with that, the domestic gold price continues to set a new peak. World gold prices have increased more than 12% in 2024 thanks to expectations that major central banks will start reducing interest rates. Coupled with new concerns that the Middle East conflict could flare up again between Israel and Hamas, this could provide a significant boost to gold. However, this factor has been quite lackluster in recent times, instead driven by economic data and gold demand from central banks. Gold prices rose nearly 1% on Monday, supported by an improvement in risk appetite due to rising expectations that the Fed may start easing policy sooner than expected. This follows last Friday's Nonfarm Payrolls (NFP) report, which showed the economy is still creating jobs but at a slower pace. Along with that, economic data from China, a major gold market, still shows positive signals. Indian gold buyers are price sensitive, causing demand to frequently decline when spot gold prices (excluding import taxes) in India increase. However, according to Bank of America, the recent stabilization of gold prices has helped the market regain balance, as shown by the increased difference between domestic gold prices in India and London gold prices. 2024 will see the strongest net gold purchases by central banks ever, contributing to a surge in global bullion demand in the first quarter. According to a World Gold Council (WGC) report published on Tuesday, these institutions added 290 tonnes of gold to their official reserves in the first three months of the year, with China being a net buyer. largest gold, according to Bloomberg. Therefore, the outlook for this precious metal remains positive in the remainder of Q2, especially the motivation coming from net gold purchases from central banks, especially from China, according to Bloomberg.
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by SantaTradeGold
XAUUSD : Gold is likely to continue rising during the weekWorld gold increased slightly after falling for two consecutive weeks World gold prices fell for the second consecutive week with the closing price just slightly above the threshold of 2,300 USD at the end of last week. Set in the context of relatively conservative fluctuations after important news, notably the Fed's monetary policy statement in mid-week and US employment data released on Friday. The decline in gold surprised many traders, as they expected a stronger reaction in the context of a sharp drop in US government bond yields after Fed Chairman Jerome Powell revealed the possibility of monetary easing in the coming months. future, despite concerns about rising inflation. This somewhat "dovish" view has boosted market psychology, directing capital flows to risky assets instead of haven assets like gold.
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by SantaTradeGold
XAUUSD : Gold is falling to create upward momentum todayThe greenback continues to weaken but gold is not really benefiting Gold price is currently quite calm around the 2,305 USD mark. Optimistic market sentiment, falling US government bond yields and a weakening USD are the factors that are having the main impact on this precious metal. Investors are continuing to evaluate Chairman Jerome Powell's comments on Wednesday and the Fed's decision to leave interest rates unchanged. Previously, investors predicted the Fed would take a more "hawkish" stance. However, the reality is the opposite and the price of gold has skyrocketed to nearly 2,330 USD. However, gold could not maintain this increase and turned down afterwards and is currently trading around the $2,305 mark, just below the 20 EMA.
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by SantaTradeGold
XAUUSD : Gold is back on the rise once againThe current gold price is trading around 2,323 USD/ounce. The golden boy immediately regained the mark of 2,300 USD/ounce after yesterday's sharp decline to 2,285 USD/ounce. The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance. Gold prices rose slightly after the Fed took a less hawkish stance than expected by keeping interest rates unchanged, and Japanese authorities were suspected of intervening to support the Yen, damaging the USD.
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by SantaTradeGold
XAUUSD : Gold will grow strongly again, right?Gold prices are expected to increase for the third consecutive month ahead of the Fed meeting Gold prices are on track to increase for the third consecutive month thanks to strong demand from central banks. Attention is now on the Fed's interest rate decision meeting this week, where policymakers are expected to take a hawkish stance. As of early Asian session, spot gold price was stable around 2,330 USD/oz - up nearly 5% over the month - ahead of the FOMC meeting on Wednesday. After higher-than-expected inflation data was released in recent months, authorities are expected to change their stance in a hawkish direction. This raises the possibility that BoA may have to abandon proposals for more rapid interest rate cuts that Fed Chairman Jerome Powell made in December. Traders predict that the Fed will only cut interest rates a maximum of two times by the end of the year - this is the lowest prediction since November 2023. Higher interest rates typically impact gold negatively because gold is a non-yielding asset. Although the expected timing of the Fed's interest rate cut was pushed back, gold prices still increased more than 13% this year thanks to many factors such as strong buying demand from central banks and support from Asian markets. (especially China) and rising geopolitical tensions globally (from Ukraine to the Middle East). In recent days, gold prices have also been supported by a weaker USD. The dollar fell on Monday after the yen jumped on fears the Japanese government would intervene to support its currency for the first time since 2022. Any further moves by Japan could put pressure on the Japanese government. pressure on the USD, making gold more attractive to investors because gold prices are calculated in USD.
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by MrTrongVo
1
XAUUSD : A quiet week for gold before the FOMC meetingGold prices opened the new trading week with a slight decrease, however the decrease was insignificant, currently trading around $2,335. Many traders choose to stay on the sidelines ahead of important events this week such as the FOMC meeting and the release of US Employment Data. As a result, gold price volatility is likely to be limited at least until Wednesday afternoon, when the Fed's decision is announced. From a technical perspective, the rising trendline at $2,320 could help the market stabilize and support the price. However, if this key support is broken, sellers could increase the pressure and push gold prices down to $2,205. If the downward trend continues, it may pave the way for gold prices to return to $2,260, corresponding to the 38.2% Fibonacci retracement threshold of this year's price increase. Conversely, if gold prices recover from current levels, the first resistance will likely be at $2,355 and then at $2,395, a level that corresponds to a downtrend line drawn from the historical peak. This barrier could pose a major challenge for the bulls, but if successful, gold prices could head towards $2,417 and then potentially retest the historical peak at $2,431 again.
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by SantaTradeGold
XAUUSD : Will gold fall to 2300 again?Gold has ended its 5-week winning streak, but it can still increase Gold ended a five-week winning streak on Friday, but its rally is likely not over yet as favorable factors such as demand from central banks continue, even as a wave of net withdrawals continues. from gold ETFs began to reverse. Gold prices increased 0.3% to 2,348.75 USD, but fell sharply earlier this week as Middle East tensions are showing signs of being contained. Morgan Stanley said that the road ahead for gold prices will be volatile but more likely to bearish instead of reversing. They forecast a higher likelihood of their bullish price scenario occurring, with gold reaching $2,760/oz in the second half of the year, rather than falling to $2,000/oz. Although the factors pushing up gold prices show no signs of cooling down, the macroeconomic outlook, in which US inflation seems to be more persistent, causes interest rates to remain at higher levels for a long time. more, causing some to doubt the next rise in gold prices. "But if economic data remains strong, leading to more persistent inflation concerns, as well as rising geopolitical risks, gold could still be bought regardless," Morgan Stanley said. Thoi added that if the interest rate cut is implemented sooner than expected, this will be another positive factor for gold.
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by MrTrongVo
XAUUSD : In which direction will gold move?Gold slid after high inflation in the US extinguished expectations of the Fed cutting interest rates Gold fell ahead of the Fed meeting, where policymakers are expected to keep interest rates high for longer to control inflation. Gold prices continued last week's momentum and fell by 0.8%. According to data, the US core PCE index rose at a breakneck pace in March. The swaps market is currently only pricing the Fed will cut interest rates once this year, well below the cut. around 150 bps is expected at the beginning of the year. High interest rates are often negative for gold because gold has no interest rate. Gold also lost some support as demand for safe-haven assets weakened, geopolitical risks also decreased as the US was trying to secure a ceasefire agreement in meetings in the Middle East. The foreign exchange market is also in the spotlight as the possibility grows that Japan will support the JPY after the currency fell to its lowest level in more than three decades. If they act, the USD will weaken. Gold has risen about 13% this year, hitting a record earlier this month even though the Fed's cut deadline was pushed back. This price increase is linked to central bank buying, strong demand from Asia, especially China, and rising geopolitical tensions from Ukraine to the Middle East.
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by SantaTradeGold
Xauusd up Gold News: Read the Latest Analysis on XAU/USD Gold, Silver Price Outlook: Precious Metals Seek Directional Cue Implied gold volatility (GVZ) has experienced a notable drop now that the risk of a broader conflict in the Middle East has subsided massively. As a natural result, gold prices have pulled back but remain at elevated levels. Gold bulls may be looking to a slightly weaker dollar in anticipation of a bullish continuation for the metal but in recent weeks, gold has appeared detached from its usual inverse relationship with the greenback as the two have risen together. Gold 30-Day Implied Volatility Gold Price: Current Pricing, Prices Chart & Rate Graph Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast. Gold now buy 2338 Target 2370
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by JohnHarry_7