Gold Spot / U.S. DollarUpdated GOLD's rise has been steady, limited by its all-time peak
During the Asian trading session, XAUUSD spot delivery at about 2,930 USD/ounce; Yesterday the price of gold skyrocketed to 36USSD. On this trading day, the Federal Reserve meeting minutes are expected to cause major volatility in the gold market.
On Tuesday, as US President Trump's tariff plan sparked market concerns about US economic growth, funds poured into the gold market in search of a safe haven. Spot gold closed up 36.28 USD, equivalent to 1.25%, at 2,934.87 USD/ounce.
The Federal Reserve will release the minutes of its January monetary policy meeting at 02:00 Hanoi time on Thursday. The market expects more information from the minutes on how decision-makers assess the risks of a global trade war that could be triggered by Trump's tariff policy.
Last week's data showed the US consumer price index (CPI) rose at its fastest pace in nearly 18 months in January, reinforcing the Federal Reserve's stance that it is in no rush to cut interest rates.
The minutes will be closely scrutinized for clues about the Fed's path forward, especially in light of recent data showing solid price growth, weak consumer sentiment and weaker-than-expected retail sales.
If the Fed meeting minutes have a tough stance, the US Dollar could be boosted, which would put gold prices at risk of falling. And vice versa, if the minutes show the possibility that the Fed will continue with its goal of cutting interest rates, the USD will weaken and create room for gold prices to increase.
CME Group's FedWatch tool now shows that the market actually sees no chance of a rate cut in March and about a 20% chance of a 25 basis point cut in May.
Analysis of technical prospects forXAUUSD
On the daily chart, gold's gains were temporarily halted by its all-time high but the technical outlook remains overwhelmingly bullish.
The technical structure remains unchanged with the price channel as the main trend and main support by EMA21.
As long as gold remains within the price channel, above EMA21, pullbacks should only be considered short-term corrections without changing the trend, and should be seen as a buying opportunity.
On the other hand, the Relative Strength Index has not really sent out any reliable signals for a possible downward correction.
To summarize, the intraday technical outlook for gold is bullish, notable positions will be listed as follows.
Support: 2,911 – 2,900 – 2,881USD
Resistance: 2,942USD
SELL XAUUSD PRICE 2951 - 2949⚡️
↠↠ Stoploss 2955
→Take Profit 1 2943
↨
→Take Profit 2 2937
BUY XAUUSD PRICE 2904 - 2906⚡️
↠↠ Stoploss 2900
→Take Profit 1 2912
↨
→Take Profit 2 2918
XAUUSD spot delivery at about 2,930 USD/ounce; Yesterday the price of gold skyrocketed to 36USSD. On this trading day, the Federal Reserve meeting minutes are expected to cause major volatility in the gold market.On Tuesday, as US President Trump's tariff plan sparked market concerns about US economic growth, funds poured into the gold market in search of a safe haven. Spot gold closed up 36.28 USD, equivalent to 1.25%, at 2,934.87 USD/ounce.
The Federal Reserve will release the minutes of its January monetary policy meeting at 02:00 Hanoi time on Thursday. The market expects more information from the minutes on how decision-makers assess the risks of a global trade war that could be triggered by Trump's tariff policy.
Last week's data showed the US consumer price index (CPI) rose at its fastest pace in nearly 18 months in January, reinforcing the Federal Reserve's stance that it is in no rush to cut interest rates.
The minutes will be closely scrutinized for clues about the Fed's path forward, especially in light of recent data showing solid price growth, weak consumer sentiment and weaker-than-expected retail sales.
If the Fed meeting minutes have a tough stance, the US Dollar could be boosted, which would put gold prices at risk of falling. And vice versa, if the minutes show the possibility that the Fed will continue with its goal of cutting interest rates, the USD will weaken and create room for gold prices to increase.
CME Group's FedWatch tool now shows that the market actually sees no chance of a rate cut in March and about a 20% chance of a 25 basis point cut in May.
Analysis of technical prospects for
XAUUSD On the daily chart, gold's gains were temporarily halted by its all-time high but the technical outlook remains overwhelmingly bullish.
The technical structure remains unchanged with the price channel as the main trend and main support by EMA21.
As long as gold remains within the price channel, above EMA21, pullbacks should only be considered short-term corrections without changing the trend, and should be seen as a buying opportunity.
On the other hand, the Relative Strength Index has not really sent out any reliable signals for a possible downward correction.
To summarize, the intraday technical outlook for gold is bullish, notable positions will be listed as follows.
Support: 2,911 – 2,900 – 2,881USD
Resistance: 2,942USD
SELL XAUUSD PRICE 2951 - 2949⚡️
↠↠ Stoploss 2955
→Take Profit 1 2943
↨
→Take Profit 2 2937
BUY XAUUSD PRICE 2904 - 2906⚡️
↠↠ Stoploss 2900
→Take Profit 1 2912
↨
→Take Profit 2 2918
Note
Spot gold prices were above $2,940 an ounce, up 0.17% on the day.Note
🔴Spot gold price is above $2,940 an ounce, up 0.24% on the day.Note
Trade active
Plan SELL +40pips close a part move SL to entry.🔥Note
🔴Spot gold prices continue to decline, down $10 in the short term and currently trading at $2,937 an ounce.Note
⚫Historical data shows that after price peaks, gold often declines in the next 5-10 years. This happened after the 2012 peak, when gold prices halved in three years.Note
🔴 Gold prices are rising rapidly and are currently trading at $2,938 after US PMI economic data fell sharply short of expectations.
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🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.