Oxtradegpt

Oxtradegpt

Spot gold surged in early trading before pulling back, hitting a high of $3,370.58 before retreating to fluctuate around $3,350. After a 3% single-day plunge on Wednesday, the metal rebounded 1.83% on Thursday to close at $3,348.50/oz, driven by a weaker dollar and bargain-hunting demand. The price is now firmly above the $3,300 threshold, with cautious optimism...

Oxtradegpt

This week, the market has been rife with uncertainties. Former President Trump’s repeated criticisms of Fed Chair Powell—particularly regarding the pace of interest rate cuts—even raised speculation about Powell’s potential dismissal, triggering widespread market turbulence. On April 22, Trump clarified that he had no intention of firing Powell while reiterating...

Oxtradegpt

Market Overview Gold demonstrated exceptional strength last week, rallying nearly 300 points following significant fundamental catalysts. The weekly chart closed with a decisive bullish engulfing candle that completely erased previous corrective losses, establishing a strong technical foundation for continued upside momentum. Technical Perspective Weekly...

Oxtradegpt

Gold surged overnight, marking its third consecutive day of gains and breaking through key resistance levels. Early trading saw prices hit a fresh high of 3220, driven primarily by safe-haven demand. After stabilizing near the 10-week moving average support, bullish momentum accelerated with favorable news catalysts, swiftly reclaiming lost ground and pushing to...

Oxtradegpt

Gold rebounded sharply this morning, reclaiming the 3,000 level with a strong bullish candle. However, the broader trend remains confined within a low-range consolidation pattern. Yesterday’s close formed a Doji candle near the 30-day moving average—a signal that typically implies two scenarios: Bearish Continuation: A breakdown below support could extend the...

Oxtradegpt

The daily chart for gold shows the Relative Strength Index (RSI) pulling back from near 80 (hit on Thursday) toward 50, suggesting that the recent drop is more than just a technical correction. Today’s opening saw gold gap down and extend Friday’s decline, raising the question: Will the daily chart see consecutive down days? The lower highs in the price structure...

Oxtradegpt

Due to the relatively high tariffs signed by Trump, gold has experienced a significant rebound, with daily fluctuations approaching $100—volatility levels previously seen over the course of two weeks or even a month are now occurring within a few hours. After surging past $3000, the increased base has led to a dramatic rise in market volatility. While larger price...

Oxtradegpt

The early-session pullback turned out to be another "dip for buying" opportunity in gold's new uptrend. After retreating to a low of 3076, prices broke to new highs again, reaching an exaggerated level of 3112 as of now. The market's long-awaited dream of gold reaching 1000 is now within reach. Given such a frenzied market right at the week's open, should traders...

Oxtradegpt

Recent Price Action: Gold traded in a tight range yesterday, reflecting the current lack of strong fundamental catalysts. The market remains cautious as the Fed grapples with the aftereffects of its aggressive hiking cycle. While rate cuts would typically boost gold, the Fed—and dollar-backed capital—is keen to prevent a sharp USD decline, keeping the DXY subdued...