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Golden Opportunities: Navigating the Ups and Downs of the GoldIntroduction: Hey there! Have you been keeping an eye on the gold market lately? It's been a rollercoaster ride, and there's a lot to unpack. Whether you're a seasoned gold bug or just dabbling in precious metals, understanding the recent fluctuations in gold prices is crucial. Let's dive into what's been happening with our shiny friend, gold, and explore some strategies to potentially benefit from the current market scenario. Understanding the Current Gold Market Dynamics: The Fed's Influence: The Federal Reserve is like the DJ at the gold market's party. When they crank up interest rates, gold doesn't dance as much. Why? Higher interest rates increase the opportunity cost of holding non-yielding assets like gold. Recently, the market's been buzzing with the Fed's hawkish stance, reducing expectations of an early rate cut in March 2024. This shift has put some pressure on gold prices. Economic Data – The Mood Setter: Strong U.S. economic data, including retail sales and labor market figures, have shown that the economy is still grooving strong. This resilience suggests that the Fed might keep interest rates higher for longer to manage growth and inflation. For gold, this means less glitter as investors turn to yield-bearing assets. Geopolitical Tensions – The Wild Card: Now, let's not forget the global stage. The escalating military conflict in the Middle East has been like a sudden change in the playlist, causing some investors to cling to gold as a safe-haven asset. This demand provides a floor to gold prices, preventing them from free-falling. Conclusion: The gold market is dynamic, influenced by a mix of economic policies, global events, and market sentiment. As investors and traders, staying informed and adaptable is key. Whether you're looking to diversify, buy on the dip, or just understand the market better, there's always an opportunity to shine in the gold market. Keep your eyes peeled, and who knows, you might just find your golden opportunity! Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FXOPEN:XAUUSDShort
by legacyFXofficial
XAUUSD TEMP REVERSAL AND LONG-TERM BULLISH OUTLOOKAs we delve into the intricacies of the gold market, it's essential for investors and traders to understand the current economic landscape and how it influences gold prices. Historically, gold has not just been a symbol of wealth but a strategic investment during times of economic uncertainty. Recent trends in the gold market are particularly intriguing. Closing the year above $2,000 per ounce for the first time, gold has proven its resilience and attractiveness as an investment. This surge is not just a fleeting moment but a continuation of a pattern, with gold achieving its eighth consecutive annual gain. Why this surge, you might ask? A lot of it boils down to the broader economic context, particularly the U.S. jobs market and the Federal Reserve's policies. Despite a slight decrease in nonfarm payrolls, the labor market remains robust. However, what's really catching the eye of investors is the Federal Reserve's policy tightening, which has led to the highest interest rates in over two decades. Interestingly, this scenario potentially sets the stage for a 'soft landing' of the economy, indirectly impacting gold prices. For those looking at gold through the lens of investment, it's crucial to note the correlation between the U.S. national debt, now crossing $34 trillion, and gold prices. This positive correlation signifies that as national debt climbs, gold often follows suit. It's a trend that has been consistent since the start of the century. So, what's the takeaway for investors and traders? While daily charts might show bearish trends, the broader view remains strongly bullish for gold. Technical analysis suggests that key support levels could be around $1,994 and $2,019, with potential bullish peaks reaching as high as $2,130. In conclusion, gold remains a fascinating and potentially lucrative avenue for investors. Its historical resilience, coupled with current economic trends, paints a promising picture for those considering diversifying their portfolio with this timeless asset. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FXOPEN:XAUUSDLong
by legacyFXofficial
Teamsters Union advises YRC will 'be out of money by August'Teamsters not 'bailing out' Yellow again The teamsters union says YRC has been poorly managed for years, and they will no longer bail out YRC again. The union said that YRC contacted them advising they will be out of money by August. “ Yellow has been unable to effectively manage itself for a long time,” said Sean O’Brien, Teamsters general president, in a video to members. “Now, the company says it’ll be out of money by August. Do not forget — Teamsters have already given back everything they possibly could to keep Yellow afloat. ” The Teamsters General President said that the union gave billions to the company in wages, benefits and concessions already. O'Brien referenced the $700 million government bailout already provided from COVID-relief. The money was supposed to go towards reinvesting in new equipment, and catching up on delinquent health & pension payments. It is not left for the Teamsters to save this company; we have given enough, O’Brien said. “ What happens next is out of our control. ” The key sticking point has been the driver requirement that they must work freight on the docks and potentially at locations other than home terminals. The Teamsters union are contending that the letter of agreement violates the current contract as it expands utility positions. A letter from John Murphy, Teamsters Freight Division Director, sent out on Monday advised that the change of operations in the West was different from the current proposal as the utility role in that region was contractually permitted and “all affected road drivers had their earnings protected and were allowed to continue to perform traditional road work.” John Murphy advised that Yellow is seeking to "assign employees to any job, anywhere, at any time across operating companies." Yellow's memo on Thursday advised that 1,000 drivers (20% of total drivers) would have to work the docks, and they already have 400 compliant with these functions. They would fill the remaining 600 roles based on the least seniority. “Let’s be clear: If you were at a non-union company — a very realistic possibility for MOST of you if Yellow does not survive — ALL of you would be subject to potential dock work regardless of your time in the industry,” the internal YRC memo read. Yellow is willing to implement another pay hike ($0.60/hour and $0.015/mile) to get a deal completed. The problem with this proposal is Yellow does not have the financing to fund the increase and would need a loan, and is seeking to refinance its $1.5 billion of debt to a future date, while interest rates are at substantially higher. John Murphy advised that the small promise of a modest increase that may not happen "is insulting". Murphy said, "Yellow wants to establish a one-way street that allows it to get everything it wants up front and early. The company wants our members to wait to see what happens down the road, even if it means workers are once again left holding the bag.” Within the Teamsters General President video, O'Brien said, "Sometimes a bad job isn’t worth it anymore". The parties agreed to pull forward negotiations of collective bargaining which expires March 31, 2024 and find a suitable operational change. Yellow is in a rush to begin negotiations, however the union has been consistent in its stance that it will follow normal negotiating protocol and will not begin discussions till August. The Teamster Union are also negotiating with TForce (NYSE:TFII) and UPS (NYSE:UPS). It recently reached a conclusion with ABF Freight's (NASDAQ:ARCB) LTL unit ABF Freight. Deteriorating Logistics Market, Untenable Financial Conditions At the end of the first quarter, Yellow reported sales of $5.14 billion, and $168 million in liquidity. Y/Y they repaid $98 million in debt. The company is not generating any profit. he company continues to book net losses with a net margin of -0.10%, and is operating near breakeven. Currently the company is spending more than they are generating. Tonnage declined 16% y/y, and is down 1/3rd over the past two years. Yellow excused the tonnage decline as part of their multiyear overhaul of "One Yellow" to consolidate its LTL brands and reduce cost by closing terminals. The drop in tonnage has been steep enough to indicate customers are routing freight through alternative carrier options. The “company is running out of cash and is at risk of closure/liquidation,” the Yellow memo read. “Delays to Phase 2 and the One Yellow transformation has come with a serious cost. The company is unable to pay its bills and secure lender financing without showing to the market that we are able to implement on our One Yellow plans.” Yellow currently provides 22,000 union jobs, and is pushing for full support to keep the survival of their brands intact. Yellow is attempting to push the Union to negotiate immediately, however O'Brien said the union will keep its current deal while it can. “Yellow has shown that it doesn’t deserve and cannot be expected to continue under its current structure,” O’Brien said. “The Teamsters cannot and will not keep bailing out this company with concessions.”
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by ZenMode
Gold sell opportunity coming soon then followed by a buyHi, #XAUUSD is going to face the strong resistance of the red line that’s when we are going to look for a sell order and we are expecting it to bounce back to the buy entry zone at the yellow line. Yellow lines are meduim S/R while cyan are stronger than yellow and red being the strongest and green being the unbreakable zone while pink is the weakest. Let me know what you guys think about this SNR technical analysis. Thank you
GShort
by Nanoplex
3
Gold BounceWith gold showing a low resistance path that could pull it back to the low's that we saw in the last week or so. With many analysts offering a much higher price in the upcoming months to years I feel the uptrend will still be respected. We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false breakthrough possibility with sellers out-weighting buyers, from this I believe the trend should bull up back to the resistance. Following a possible break of resistance we could see a big bull pushing these numbers to the 1800 analysed by many, even further if enough momentum is generated from the lows, this may be slowed by some possible accumulation but Gold shows promise to fight to these highs. USD numbers should help with this with USD being weakened at multiple times last week. DO NOT TAKE THIS AS GOSPEL, This is my idea that could become possible. Any comments appreciated, new to the game.
TVC:GOLDLong
by JParry8
European Seeion Yellow Metal Upside Bias XAUUSD Technical Overview: Pivot: $1200.20 Day Trading Range: $1196 - $1214 Key Resistance: $1208.45 - $1212.89 - $1215.55 Key Support: $1204 - $1200.20 - $1196.28 Technical Indicator: MACD: MacD is loosing bullish bias. Moving Avg: SMA100 ($1201.03) & SMA200 ($1199.63) strong support for the day. Technical Most Likely Scenario: long positions above 1200.00 with targets at 1208.25 & 1212.50 in extension. Technical Alternative scenario: below 1200.00 look for further downside with 1196.00 & 1192.50 as targets. Fundamental: Gold markets have rallied significantly during the trading session on Thursday but hit a brick wall of resistance above the $1215 level, and I think that there are a couple of moving pieces right now that are throwing the markets around. The US economy printed a lower than anticipated CPI number, and that sent the greenback lower, and by extension sent the Gold markets higher. However, at the same time there is comments coming out of the European Union that further stimulus may be needed by the central bank, which is positive for the US dollar as the EUR/USD pair essentially drives the majority of US dollar flows. Thanks YoCryptoManic
FX_IDC:XAUUSDLong
by yoCryptoManic
2
XAU/USD moves exactly as expectedThe yellow metal’s price movements in the past trading session have become increasingly easy to forecast. Moreover, the future also seems clear. First of all, the bullion has revealed the medium term ascending channel’s borders, which help to predict when the metal will reach above the 1,300 mark. Secondly, the commodity price has reached above the 1,290 mark and touched the 1,295 level on Friday. In the near future it can be expected that the metal’s price will surge above the 1,300 mark. However, that can be hindered, if the new weekly pivot points on Monday obstruct the surge.
FOREXCOM:XAUUSDLong
by UnknownUnicorn890690
Quick update in gold.. Quick update in gold.. Price action have been holding up ridiculously well for the past month despite the record pace of rallying in the stock market. SPY: However, the divergence between USDJPY continues which does not bode well for stocks. USDJPY: On the lower timeframe perspective of gold (4~ 12 hour), it does seems that we have made a higher high price here, however I will not rule out of a possibility of a re-test of $1190 support level. On what seems to be a head and shoulders pattern here, I highly doubt there will be any follow-up given the spike in VIX on Friday's closing. I believe that the second leg down on stocks may start to develop soon which should push gold further up coupled along with the divergence developing in the USDJPY pair. Look out for a quick spike towards $1400 /oz area. However I wouldn't entirely consider this rally in gold to be a bull market. It was badly oversold and was already overdue for a bounce with the falling wedge that have been building for more than 4 years anyway. In other words, there is a possibility that this is a counter-trend rally in a bear market for gold. Silver in the meantime looks pretty compelling, pretty much abandoned by the mainstream. At $1400/oz gold, I'd trade all my physical holdings into silver. XAGUSD: Gold silver ratio:
FX:XAUUSDLong
by LastBattle
5