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Gold trades steady on Tuesday, having reached a new five-day lowGold (XAU/USD) trades steady after finding support at $2,724 early on Tuesday. It has since bounced back to the $2,730s on the back of a marginally weaker US Dollar (USD), due to uncertainty over the US presidential election. A weaker Greenback, in turn, aids Gold since the precious metal is mostly priced and traded in USD. The highly-rated election forecaster 538.com indicates a 50% probability of Vice President Harris winning on Tuesday whilst former President Donald Trump has a 49% chance of victory. That leaves a 1% chance of no overall winner. Over the last 24 hours, Harris has edged into the lead after lagging Trump for several days. This may also explain Gold’s turnaround on Tuesday. Solomon’s Jones is bullish on Gold overall, seeing the election outcome as a “win-win” for the precious metal regardless of which candidate is victorious. Although the precious metal remains in an uptrend on a medium and long-term basis. Asad iqbal khan
FX_IDC:XAUUSDLong
by AiK-Yousafxai
Next Turns Of GoldOur technical analysis of Gold, incorporating both price action and smart money concepts, indicates an upward trend within a parallel channel. However, caution is advised against entering trades blindly, as the metal is currently positioned mid-channel. Trading success is often attributed to 10% buying, 10% selling, and 80% patience. Therefore, we recommend waiting for Gold to approach key support or resistance levels. Key levels to watch: - Strong Buying Zone: $2700-$2703 - Strong Selling Zone: $2800-$2805 Our analysis remains unaffected by election outcomes, as Gold has consistently respected support (three times) and resistance (four times) levels. We anticipate similar momentum to persist. For traders considering immediate entry, selling may be an option, albeit with caution and at one's own risk. Gold has reversed from resistance at $2789, targeting support, although we assign a 60% probability to this move due to Gold's inherent volatility. Note: This analysis is only for the Long equity Account Holders
TVC:GOLDShort
by LeonardoTrader9t9
1
GOLD XAUUSD PREDICTION🇺🇸 How the 2024 U.S. Presidential Election Could Impact Your Investments With the upcoming U.S. presidential election, markets are on edge. Both Donald Trump and Kamala Harris offer contrasting approaches, which could lead to different outcomes for stocks and gold. Here’s a breakdown of potential impacts under each candidate: 📈 If Trump Wins: • Stock Market: Known for pro-business policies, Trump may boost investor confidence through tax cuts and deregulation, potentially leading to a stock market rally. However, his tough stance on international trade, especially with China, could create market volatility. • Gold: Gold typically benefits from uncertainty. If Trump’s approach increases geopolitical tension or economic uncertainty, gold prices could rise. Conversely, a stronger dollar under his policies might limit gold’s growth. 📉 If Harris Wins: • Stock Market: Harris will likely continue Biden’s policies, focusing on infrastructure and clean energy. These policies could favor sectors like renewable energy. However, possible tax hikes on corporations may cool off overall market enthusiasm. • Gold: With more regulatory oversight expected, investor caution may drive gold demand as a safe-haven asset, especially if concerns about government spending or inflation arise. 🔍 Key Takeaways: • Market Volatility: Elections bring uncertainty, so markets may experience short-term swings as investors react to possible policy shifts. • Long-Term Impact: While election outcomes have immediate effects, the long-term impact depends on actual policy implementations and global economic factors. Stay tuned and diversified! Elections are just one of many forces shaping financial markets, so having a balanced approach is key.
FX_IDC:XAUUSD
by wallstreetwolfx
99% rate cut odds in election week? With both the election and an upcoming Fed meeting in focus, markets could face a surge in volatility this week. According to the CME Group’s FedWatch Tool, traders are placing a 99% probability on a quarter-point rate cut at the conclusion of the Fed’s policy meeting on Thursday, following a half-point cut in September. After the rate decision, Fed Chair Jerome Powell is expected to speak. But, even if Thursday brings a clear election outcome, Fed officials are likely to sidestep any questions about potential policies from the next administration until the winner assumes office. Only then will they assess how campaign pledges translate into actual policy, watching closely to see how businesses, consumers, and financial markets react before making any further moves on monetary policy.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAUUSD: Preparing for a bullish reversal.Gold is about to go from neutral to bearish on its 4H timeframe (RSI = 45.410, MACD = -2.540, ADX = 22.042) as after breaking under its 4H MA50, it has failed to cross it on two attempts. This pullback is part of the techical bearish wave of the 3 month Channel Up and it is the 3rd in total. The two waves before that found a bottom near the 0.382 Fibonacci level and we are already just over that level. We expect some more sideways movement and ideally when the 4H RSI hits 35.000, begin the bullish reversal. Our aim is a minimum of +7.00% rise (TP = 2,900) for the next HH. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
GOLD OUTLOOK Gold a safe heaven as we have taken bunch of profits today as it was our lucky day now as we see all day activity gold price remained very choppy price didn't broke above 2748 price level of resistance also didn't broke below 2731 price level of support as price has formed immediate resistance level of 2746-48 Now we again predict a fall in price as from H4 to H1 we can observe price is in a bearish momentum although price is showing some bearish signs over Daily Time frame but still price is in a bullish trend daily as we haven't observed any CHOCH on daily TF GEOPOLITICS As Geopolitics is concerned tight situation between iran and israel has loosen up to some extent of some tension increases we can see a bull run over price US ELECTIONs As far as today's big news is concerned gold is under effect of US Congress elections and what we have observed today is election effect tomorrow at 6th we can see any predictable price movment till now we are bearish over gold as price is all sideways
OANDA:XAUUSDShort
by Wakeel_Saab
GOLD NEXT MOVE (expecting a bearish move) (11-10-2024)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (11-10-2024) Current price- 2653 "if Price stays below 2670, then next target is 2643 and 2630 and above that 2690 ". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSD
by AnupZiddi
19
GOLD NEXT MOVE (expecting a bearish move) (09-10-2024)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (09-10-2024) Current price- 2618 "if Price stays below 2632, then next target is 2606 and 2585 and above that 2640". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSD
by AnupZiddi
32
Gold next move (weekly forecast)(07 October- 11 Oct-2024)Go through the analysis carefully, and do trade accordingly. Anup 'BIAS for the week (07 October- 11 Oct-2024) Current price- 2653 1st Scenario, (bullish move) "if Price stays above 2640, then next target is 2663, 2673 and 2688 and below that 2632" if price fulfills the 1st Scenario, 2nd Scenario, (bearish move) "if Price stays below 2690, then next target is 2660, 2645 and 2620 and above that 2700" -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSD
by AnupZiddi
32
GOLD NEXT MOVE (expecting a bearish move) (03-10-2024)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (03-10-2024) Current price- 2649 "if Price stays below 2665, then next target is 2639 and 2625 and above that 2675". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSD
by AnupZiddi
12
Going Long on Gold During the Election PeriodTomorrow, gold is expected to experience significant volatility, as market sentiment may be influenced by a range of events, particularly the outcome of the elections. Based on the current technical setup, my plan is to maintain a bullish bias in the short term, especially if gold continues its upward trend. However, if the election results turn out to be unfavorable for the bulls and the market reverses, I will add short positions to my existing bullish trades to capitalize on potential downside risks. I will closely monitor price movements and adjust my strategy based on market reactions. Additionally, after the end of this week, given the increasing market uncertainty, my focus will shift to short positions, with the aim of targeting the 2686-2652 range. This area is likely to provide strong support and will be an important level to watch.
OANDA:XAUUSDLong
by Mia-Signal