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How has the price of gold changed today?Dear friends, currently the price is still in a downward trend, with prices sometimes dropping to $2020 after the market correction. However, gold has quickly rebounded slightly and is trading around $2028 at the moment. Meanwhile, financial investors are focusing their capital on stocks. As a result, there is very little money flowing into precious metals. It is understandable that the decline in gold prices today has not stopped. Market participants are betting that the Federal Reserve (Fed) may start cutting interest rates after March. Indeed, reducing inflationary pressures will confirm that idea, despite the latest data showing a tightening labor market. The CPI index may affect sentiment, and as a result, the US dollar will trade accordingly. From a technical analysis perspective, the Relative Strength Index (RSI) is gaining strength and rising above 50.00, supporting another segment towards the psychological resistance level of $2050. However, this downward trend has not yet stopped, so any breakthrough below the support level of $2016 will push prices down significantly. Support levels: $2016.60, $1998.65, $1987.20 Resistance levels: $2040.30, $2052.30, $2065.45
OANDA:XAUUSDShort
by RKarina
Gold suddenly turned down in priceToday, we witnessed a change in the price of gold, dropping from $2,054 to $2,028 per ounce on Wednesday morning. This seems to be partially due to comments from officials at the Federal Reserve (Fed), indicating that it will take a while for the United States to reach its 2% inflation target. Meanwhile, the Fed is not rushing to cut interest rates and will only consider doing so when inflation significantly decreases. This has sparked speculation that the Fed will maintain the current interest rates after the meeting concludes on January 31. Following this information, the US Dollar Index has risen to 103.35 points. The strengthening of the USD is putting downward pressure on gold prices, potentially pushing them towards the support level of around $2,015. What are your thoughts on the future trajectory of gold prices?
OANDA:XAUUSDShort
by RKarina
16 Jan ’24 — Nifty Tests the Ascending Channel Today - stance ➡️Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: “Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.” 4mts chart Nifty hit a new top of 22124 today and just when everything was going in its favor, it started falling. Most analysts will blame the NiftyIT sector (-1.28%) for the fall today - they are not wrong but it is not just because of IT. The majority of the Nifty sub-sectors were down today, Realty (-1.66%), Pharma (-1.14%), Energy (-0.75%), Service (-0.52%). Very few sectors were in green today - Metal, Media, Consumer Durables, PSU banks, etc. When the majority of sectors are against the primary direction (bullish), it may end up becoming a top-like formation. We discussed yesterday how the Ascending Channel will act like support, on the 4mts TF we got a breach today. 22050 was our laxman rekha but we ended up hitting 21969. 63mts chart The channel top is not breached in the higher TF, just because of this we are not changing the stance from bullish to bearish. We would like to give one more opportunity for Nifty to hold its ground. We would start the day tomorrow with a neutral bias and wait for Nifty to fall below 21913 to go bearish.
NSE:NIFTY
by viswaram
XAUUSD: bullish optimism? The price of gold is trading quite flat, decreasing by nearly 5 USD and hovering around the 2050 USD mark. The market seems to be in a lull after the holiday break for banks. Further price declines could be seen at the triangle support level of 2,049 USD. Additionally, the support level of 2,027 USD on Friday could provide temporary relief for gold buyers. On the upside, a strong resistance level is observed at around 2,060 USD, above which a static resistance level at 2,080 USD will come into play. If the upward momentum gains strength, it cannot be ruled out that there may be a retest of the barrier at 2,100 USD.
OANDA:XAUUSDLong
by RKarina
Gold price is stableCurrently, the price of gold is fluctuating around $2050 and has decreased by nearly $8 compared to the previous trading day. Overall, at the beginning of the week, gold did not experience significant changes in trend due to the closure of the US market for the Martin Luther King Jr. holiday. However, escalating geopolitical tensions in the Red Sea and a risk-averse environment still benefit safe-haven assets like gold. Retail sales figures for December will be released on Thursday, along with preliminary estimates for the University of Michigan Consumer Sentiment Index for January on Friday. The focus will continue to be on inflation, as Canada, the UK, Germany, and the Eurozone will publish updates, which will directly impact the price of gold whether it experiences a breakthrough increase or decrease
OANDA:XAUUSDLong
by RKarina
2
XAU/USD -Medium term Sell-off post US & UK attackIt looks likely that Gold will experience sell off From 2053 to 2036 Level, Before trying to make a new leg high, The reason is Movemtum driven response to gold and bond market due to the war at yemen. Fed officials, economic data in focus for rate-cut cues The dollar index surged 0.5% on Tuesday, with demand for the greenback increasing ahead of an address by Fed Governor Christopher Waller later on Tuesday. His comments on the potential for a spring rate cut will be closely watched, after consumer and producer inflation data for December offered somewhat mixed cues to markets. U.S. industrial production and retail sales data readings are due on Wednesday and are set to provide more signals on the economy. Any signs of economic resilience gives the Fed more headroom to keep rates higher for longer. Traders were seen slightly trimming bets on a March 2024 rate cut, according to the CME Fedwatch tool . Expectations of early interest rate cuts were a key driver of a gold rally in recent weeks, given that the yellow metal benefits from a low-rate environment.
FOREXCOM:XAUUSDShort
by fxtriangle
1
XAUUSD: price growth continues?Dear friends! Looking back at the previous weekend, gold has demonstrated its strength with a remarkable breakout, completely breaking free from the sideways trend and ending the downward trend. It is an impressive move from the bull side, as they not only successfully defended the key support level at $2015 but also pushed the price of gold higher from this point onwards. The tension in the Middle East is having a noticeable impact, reducing pressure on the US dollar and bond yields, thereby supporting the price of gold. In the short term, the demand for safe-haven assets may push the price of gold even higher. Given the current landscape, can we expect a new rally in the price of gold? What about you, do you anticipate a surge in the price of gold? Share your thoughts on the next direction for gold in this exciting market!
OANDA:XAUUSDLong
by RKarina
Update gold price at the beginning of the new weekDear friend, In general, precious metals truly impress us. Gold traded sideways near $2030 before rising to $2061 on Friday, then retraced to $2049 and stabilized at this level. Now, what excites me is that gold is currently trading calmly around $2050 - $2051 as we enter the new week. The interesting thing is that gold's recovery is driven by weakness in the US Producer Price Index (PPI) data and political tensions in the Middle East. Like a skilled dancer, gold breaks free from the downward "dance", returns to test the Breakout zone, and dances with the two EMA lines. For these reasons, gold makes me quite optimistic that it will not stop here. It seems to be heading towards a new high - $2088. What about you?
OANDA:XAUUSDLong
by RKarina
2
Gold price todayDear friends, let's explore the Gold market for the new week together! In general, the start of the new week sees Gold relatively quiet around the $2043 mark. Looking at the analysis chart: The overall trend is still bearish, with two negative factors driving it. Factor 1: The downtrend continues from the levels of $2149 and $2089. Factor 2: Gold has broken out of the price increase channel around $2058, leading to a significant decline. Although there has been some adjustment, it is still not strong enough. Therefore, it would not be surprising if Gold continues to decline with an expected drop to $2015. The important thing is to closely monitor and grasp these updates to have a clearer view of the upcoming significant ups and downs in Gold.
OANDA:XAUUSD
by RKarina
Gold price prospects to rise again sooner?Hello dear friends, as expected, yesterday we saw gold drop to its final profit-taking target at $2013. However, gold quickly recovered and at the time of writing, it is trading around $2033, stable within the previous downtrend channel. Therefore, the upward momentum of gold may be limited as there is a possibility that the FED may not begin cutting interest rates earlier than anticipated, which could lead to selling pressure on XAUUSD. Looking at the prospects and trends of gold: overall, it is still in a downward trend, but selling pressure is gradually decreasing and there is a possibility of a shift towards an increase in price due to the appearance of a convergence trendline on the RSI. The current support level is $2013, which may play a crucial role in the price increase of XAUUSD, with RKarina's profit-taking target set at $2035 and $2065.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price todayDear friends, Looking at last week's chart, gold experienced a slight decline, but the long-term prospects remain quite positive. At the time of writing, the price is trading steadily around $2038, with support from the $2016 level. As long as the trend line remains strong, I believe gold will generate a breakthrough above $2045 and aim for my profit target of $2065 and $2088. What about you? Do you think gold has the potential to increase in value in the near future
OANDA:XAUUSD
by RKarina
2
How is gold trading today?Dear friends, Currently, the price of Gold is not experiencing significant fluctuations, mainly hovering around the $2030 mark and still stuck in a downward trend. Regarding our trading strategy for Gold: On the analysis chart, Gold is being limited below the resistance level of $2036 and is confluencing with two EMA lines, further supporting the downward trend. Therefore, we will prioritize Sell orders with a profit target at the defensive level of Bulls in 2020 - $2017. Wishing you good luck!
OANDA:XAUUSDShort
by RKarina
Gold drops to 2000 USD?Hello everyone, it's great to meet you all again for today's discussion on the price of gold!! Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030. Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980. As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
OANDA:XAUUSDShort
by RKarina
Gold sellers need validation from $2,017 and US CPIGold price remains on the back foot for the second consecutive week, so far, as traders await the key US inflation data, namely the Consumer Price Index (CPI) figures for December. That said, the precious metal’s sustained trading beneath crucial Exponential Moving Averages (EMAs) and mostly steady RSI (14) line keeps the XAUUSD sellers hopeful. However, an upward-sloping trend line from early November, close to $2,017 by the press time, restricts the downside of the bullion. Should the quote manage to break the stated key support line, backed by upbeat US inflation numbers, the sellers can quickly aim for the previous monthly low of around $1,973. However, the $2,000 threshold may act as an intermediate halt. On the contrary, the Gold buyers need to portray a successful break beyond the 50-EMA and the 100-EMA convergence, near $2,040, to reclaim the market’s confidence. Even so, the downbeat US CPI and a sustained run-up beyond a five-week-old falling resistance line, close to $2,055 as we write, become necessary for the XAUUSD bulls. Following that, the previous monthly high of around $2,090 will be the last defense of the sellers before directing the quote toward the record high marked in 2023 surrounding $2,048. Overall, the Gold sellers are flexing muscles but the metal’s downside move hinges on a $2,017 break and the US CPI.
OANDA:XAUUSD
by MTradingGlobal
How does gold trade?Dear friends, the price of gold continues to decline and is currently trading around $2035. According to our chart analysis, gold has formed an inverted cup and handle pattern. The current support level is $2017. Additionally, the 10-year US bond yield has surpassed 4% per annum. This factor has prompted investors to pour money into bonds, resulting in minimal flow into precious metals. Therefore, it is inevitable that the price of gold will continue to trend downwards. In fact, during the overnight trading session, the global gold price reached $2040 per ounce at times. However, concerns have arisen as the US dollar strengthens and US bond yields rise. Many are worried that this will cause a decrease in the price of gold. As a result, they are looking for ways to sell and recover their capital, leading to a decline in the price of gold and making it difficult for it to recover.
OANDA:XAUUSDShort
by RKarina
Gold promises to increase in price?Dear readers, in the short term, our priority remains to sell due to the current price adjustment phase, with trading hovering around $2035. However, when considering the long term, the analysis of the 1D chart supports a strong upward trend for gold, with a clear support level at $2017. Another favorable factor for gold is that the trend line has not been broken yet. These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main drivers for investors to push prices back to the resistance level of $2088 and achieve a new all-time high.
OANDA:XAUUSD
by RKarina
IOC - Add to WatchlistIndian Oil Corporation Limited is engaged in refining business. The Company's segments include Sale of Petroleum Products, Sale of Petrochemicals and Other businesses. TTM EPS: 17.36 TTM PE: 5.43 P/B: 1.00 Mkt Cap (Rs. Cr.): 133,022 Dividend Yield: 3.19 Sector PE: 30.01 Book Value Per Share: 94.73 Some Positives: Strong Momentum: Price above short, medium and long term moving averages Growth in Net Profit with increasing Profit Margin (QoQ) Increasing profits every quarter for the past 3 quarters Company with Zero Promoter Pledge FII / FPI or Institutions increasing their shareholding Recent Results : Growth in Operating Profit with increase in operating margins (YoY) Some Negatives: MFs decreased their shareholding last quarter Inefficient use of shareholder funds - ROE declining in the last 2 years Declining Revenue every quarter for the past 4 quarters Declining Net Cash Flow : Companies not able to generate net cash My Opinion: I am positive on PSU Oil and Gas. NOT A RECOMMENDATION. JUST FOR EDUCATION PURPOSE. Thanks
NSE:IOC
by babutaaniket
2
Gold prices are expected to continue to go downDear friends, it's great to see you again in today's trading session. At the time of writing this article, the price is fluctuating around $2033 at the start of the trading session, showing a slight recovery after a sharp drop to $2017 at the end of yesterday's trading session. The precious metal has broken out of the support level at $2033 and the price analysis chart indicates a clear downward trend with a convergence preparing for a reversal from the 4 and 89 EMA. It is expected that the current price correction will continue until a retreat of 0.5 or even 0.618. We can anticipate further decline in gold after this correction phase. Selling opportunities should be prioritized, my friends!
OANDA:XAUUSDShort
by RKarina
Gold price decreased but the upward momentum remained the sameIn general, the main trend of gold in the past week has been a decline, with a decrease of over $40 during the week. However, when looking at the long term on a daily chart, gold still maintains a strong upward trend with a stable ascending trendline. Gold has experienced a week of price decline as a corrective wave, testing the EMA 34 line at $2045 and the upcoming prospects are expected to test the EMA 89 line at around $2019. We can expect gold to recover from this point as it touches the trendline and finds support at that level (as marked on the chart).
OANDA:XAUUSDLong
by RKarina