Gold 1) Positional Trade
2) Awesome fundamentals
3) Rocket base setup
4) Tight Consolidation
5) I will not be surprised if it touches 1700
Gold
Gold price today: Recovery after the storm!Last week, the price of gold fluctuated between $2,300 and $2,360 per ounce until Wednesday. By Thursday, amidst escalating tensions in the Middle East, the upward trend became evident as gold reached a new peak above $2,400 per ounce. The momentum continued into Friday, reaching $2,431.59 per ounce before declining to around $2,355 to end the week.
The geopolitical risks seem poised to push the price of gold even higher. The outlook for this week is optimistic: a survey on Wall Street showed that 83% of analysts expect the price of gold to increase, with only 17% predicting a decrease. There is no neutrality in these expectations.
An online poll conducted by Main Street reflects this sentiment, with 82% of investors predicting an increase or stable trading for gold. Meanwhile, 66% of surveyed retail traders expect gold to rise.
Personally, I believe that gold will continue its upward trajectory, although it may experience some short-term price adjustments along the way!
Monthly bullish megaphone keeps Gold buyers hopefulGold price resumes its upward trajectory within a fortnight-old bullish megaphone chart pattern after a volatile day that initially refreshed an all-time high before posting the biggest daily loss in two months. That said, the XAUUSD’s corrective bounce also takes clues from a rebound in the RSI (14) line. However, bullish MACD signals and cautious mood ahead of the US Retail Sales tests the bullion’s recovery moves. It should be noted that 100% Fibonacci Extension (FE) of the quote’s February-March moves, near the $2,400 threshold, currently lures the buyers. However, the aforementioned megaphone’s top line, close to $2,441 at the latest, will challenge the precious metal’s upside afterward. Following that, the commodity’s run-up toward the $2,500 round figure can’t be ruled out.
Meanwhile, the Gold price sellers need a clear downside break of the stated wedge’s bottom line, around $2,336 by the press time. Following that, the 61.8% and 50% FE level will entertain the XAUUSD bears around $2,305 and $2,277 respectively. However, a convergence of the 100-SMA and an upward-sloping support line from February 28, near $2,265, appears a tough nut to crack for the precious metal sellers. In a case where the quote remains weak past $2,265, the odds of witnessing a quick fall toward March’s peaks of around $2,222 and $2,195 appear brighter.
Overall, the Gold price lacks upside momentum but the sellers stay off the table beyond $2,265.
Gold continues to increase in price dramatically!Hi everybody! Gold just experienced a volatile day yesterday, falling sharply to $2,330 before quickly recovering to $2,392, recording a spectacular increase of $62 in a short time. This strong recovery further reinforces the sustainable appeal of gold in the current context.
In a situation where inflation in the US is rising, the Federal Reserve's (Fed) ability to delay monetary policy changes has increased the strength of gold. Gold appears to be not only sustainable but also strong, despite uncertainties from US economic data.
Despite the US dollar rising against other currencies and US bond yields staying high, gold still shows resilience.
I am still very optimistic about gold's prospects, considering it a safe haven, especially in the context of geopolitical tensions in the Middle East continuing to heat up.
Gold price is approaching the 2400 USD zoneAs the trading week ended, gold showed no signs of slowing down in its recovery, approaching the key $2,400 mark and posting an impressive daily gain of 1.04%, or 240 pips.
Gold continues to benefit from strong market support, especially given the ongoing geopolitical tensions in the Middle East, which show no signs of easing. This confirms gold's status as a safe haven asset. In addition, expectations that major central banks will reduce interest rates later this year also contribute to strengthening the value of this precious metal.
From a technical analysis perspective, if gold continues on its current trajectory, the next target according to the Fibonacci index is 2465 USD. In addition, the uptrend is also reinforced by the price movement above both EMA 34 and 89, bringing optimistic signals to investors.
XAUUSD - Is the 2400 USD target possible?Hello dear friends! Yesterday, gold faced some challenges in the context of a stronger US dollar. However, it still remains a focal point of interest for international investors.
After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing.
Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy.
It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
Update the latest gold price todayGold prices plummeted, dropping 20 USD after just 30 seconds after the US inflation announcement, exceeding market expectations. Inflation in March increased by 0.4%, exceeding the forecast of 0.3%, putting the Federal Reserve (Fed) in a difficult position in making future monetary policy decisions.
Inflation increased 0.4% in March, pushing the annual interest rate to 3.5%, signaling persistent high inflation. This situation may force the Fed to delay cutting interest rates to prevent the US economy from falling into recession, aiming for recovery in a challenging global economic context.
Previously, there were strong signals that the Fed might delay raising interest rates at its May meeting, with just over a 50% chance of a rate hike at its June 12 meeting. The consequences are for gold prices. fell as the US dollar soared, benefiting from yesterday's developments.
The rising momentum shows no signs of cooling down!Gold is heading towards its eighth consecutive record-breaking day, showing no signs of slowing down to provide better entry points for the upward trend. The precious metal has few indications that the price increase will be threatened, and the CPI index will be the focus of today's trading.
Looking back at recent days, even the NFP couldn't weaken gold, so it's exactly what was observed last week, with the weaker US dollar truly adding more appeal to gold.
Market sentiment The buyer/seller ratio is indicating dominance in buyer changes, providing a trading signal contrary to popular belief that gold may decrease in value.
Technical outlook On the H4 timeframe, the upward trend is still present, but the momentum is slowing down with shorter candles and a short-term consolidation pattern. In the event that gold continues to rise, the price target of 2370-2380 USD will be of interest today, where there are many short-term sell contracts waiting to be matched.
Update the latest gold informationHello gold enthusiasts! 🌟 As the US Dollar Index cools, gold's glowing appeal persists, with today's trading keeping the precious metal at an impressive $2,345—a gain of 0.26% on the day.
However, with a series of consecutive price increases, gold faces a wave of profit-taking. Even so, the metal's shine has not dimmed, fueled by three powerful undercurrents fueling its record rise:
🔹 Geopolitical currents: Ongoing conflicts in Ukraine and Gaza stir volatile waters, with the potential for spillover to other countries keeping investors and governments on high alert. In these turbulent waters, gold emerges as a sturdy lifeboat for those seeking shelter from the storm.
🔹 Central bank gold rush: World Gold Council reports show notable gains, with global central bank gold reserves increasing by 19 tonnes in February.
🔹 Inflation prevention: As the wave of inflation increases, gold's reputation as a bulwark is reinforced, against the erosion of currency value.
In terms of news: This week's economic calendar tends to be brighter, all attention is focused on the US Consumer Price Index (CPI) report for March, predicted on Wednesday (April 10). ), followed by the US Producer Price Index (PPI) and weekly unemployment claims on Thursday (April 11).
Gold prices today continue to remain stable at a high levelThe price of gold today continues to rise, with gold reaching $2,352.5 in the early hours of the Asian session. However, it later retreated and stabilized around $2,345.
The metal's upward momentum is driven by safe-haven buying amid concerns over conflicts. Meanwhile, the market is awaiting the minutes of the Federal Reserve's policy meeting and inflation data, which will be released later in the day, to find further clues about the future interest rate trajectory in the United States. The Consumer Price Index (CPI) for March is expected to increase by 3.4% compared to the same period last year. The core CPI is up 3.7% annually.
As a result, CPI data could create volatility in the gold market, and technical buying momentum will continue unless the CPI data is much hotter than expected. A lower inflation report could push gold to touch $2,400 per ounce and vice versa.
RSI divergence prods gold bulls, US inflation, Fed Minutes eyedGold price makes rounds to the record top early Wednesday as market players await the all-important US Consumer Price Index (CPI) and Minutes of the latest Federal Reserve (Fed) monetary policy meeting. Apart from the pre-data anxiety, a bearish RSI divergence on the four-hour chart also challenges the XAUUSD buyers. That said, the lower low in the RSI (14) line contrasts with the higher high in the bullion prices to portray the bearish divergence and tease the sellers. However, a week-long bullish trend channel, currently between $2,314 and $2,375, restricts the precious metal’s short-term moves. Even if the prices drop beneath the $2,314 support, the bears need validation from the $2,300 threshold and convergence of the 100-bar Exponential Moving Average (EMA) and a 1.5-month-old rising trend line, close to $2,245-42, to retake control.
Meanwhile, a fresh upside in the Gold price could aim for the stated bullish channel’s top line, around $2,375 at the latest. Following that, the 100% Fibonacci Extension (FE) of the quote’s February-March moves, near $2,398, will precede the $2,400 threshold to lure the XAUUSD buyers. It’s worth noting that the precious metal’s advances past $2,400 won’t hesitate to aim for the $2,500 psychological magnet.
Overall, the Gold buyers are running out of steam ahead of this week’s top-tier data/events.
Gold and its upcoming direction!The relentless surge of gold to a new record high in the opening session of April is being driven by predictions of US interest rate cuts and its appeal as a safe haven asset, currently holding steady at around $2,255.
The real driving force behind gold's upward trajectory is the growing belief among investors that the US Federal Reserve will loosen monetary policies. Market watchers are eagerly anticipating an early rate cut by the Fed, possibly in May or June.
The recent increase in this precious metal is also fueled by strong buying pressure from central banks worldwide, as they diversify their reserves amid geopolitical risks, domestic inflation, and a weakening US dollar.
The consensus is clear: gold thrives in favorable conditions and is poised to continue breaking new records in the near future.
Latest gold update: Continue to conquer new recordsDear friend,
Today, gold ended the trading session with a significant price increase. The precious metal reached a high of around $2330 after touching $2270, gaining $60 in just one day.
You may be wondering why gold is rising so strongly.
In terms of international market information:
Despite better-than-expected US employment data, the global gold price continues to skyrocket, setting new records in weekend trading sessions and marking the third consecutive week of gains.
Recently, considering the strength of the economy and inflation data, Federal Reserve Chairman Jerome Powell reiterated the view that the US central bank has time to consider when to cut interest rates for the first time. According to CME FedWatch, traders are currently pricing in a 59% chance of a rate cut in June.
Conclusion: Currently, I am very optimistic about the possibility of gold prices reaching $2400 per ounce. In the context of central banks continuing to buy gold to diversify foreign exchange reserves, higher US bond yields or a stronger US dollar will not be obstacles for gold.
With the current trend, it is possible for prices to continue rising next week. There is evidence that once it reaches the level
Strong upward trend continues for XAUUSD!Hello everyone, today the price of precious metals has reached a new record high due to the buying activity of central banks in Asia.
A new published report reveals that the People's Bank of China has added 160,000 ounces of gold to its reserves in March. Turkey, India, Kazakhstan, and some Eastern European countries have also been purchasing gold this year, leading to a continued rise in prices.
Despite expectations of changing interest rates, the recent increase in demand for gold will continue until the end of this year due to hidden supply pressures caused by concerns about economic downturn and ongoing conflicts. The new recovery of gold has only just begun, and it won't be long before Western retail investors jump into the market and drive this precious metal to reach new record levels.
Where will gold prices go this week?Hello everyone, following last week's upward trend, gold has once again started the second trading session with strong price increases.
In the early trading hours, gold briefly reached $2354 but quickly retreated and is currently at $2337, marking a 0.31% increase for the day.
In light of escalating tensions, gold's traditional headwinds have failed to impede its upward momentum in the past week. The precious metal has shown steady growth, ending the week with a 5% increase.
Looking at gold's recent fluctuations, it is no longer heavily reliant on the direction of the US dollar. Gold is now establishing itself as a global currency and overshadowing traditional pressures, pushing it to new record levels.
Gold buy on deeps!As per the chart, some corrections have been seen around 2352 (which I have posted already) on Gold. So it does. Now buy on deeps around 2310 for the target of 1:2 RR or 1:3 RR.
XAUUSD BUY PROJECTION 07.04.24Reason Behind Buy
1. Breaked Resistance @ 2310
2. Will Retest Trendline + Support @ 2310
3. Next XAUUSD/GOLD Move towards last week High 2331
4. Jio Politic War - Reason 1
5. US intrest Rate - Reason 2
Overall Possible outcomes
XAUUSD BUY @ 2295-2310
SL 2267
TP 2330
TP 2 2400
05 Apr - Nifty was Flat, BankNifty picked up momentum!Nifty Analysis - Stance Bullish ⬆️
Recap from yesterday: “Now take a look at the 63mts chart, and see where the reversal came from ~ 22295 levels. That is the main reason why we said a stance change is required only if 22295 is broken and since we did not do that, we continue to remain bullish.”
Nifty had no momentum today, but BankNifty had lots of it. Yesterday SPX & NDQ had a real down day and its spillover effects were visible during the opening minutes. We opened gap-down and then slowly recovered from that. There were no abrupt or wild movements for a change. That takes me to the next question, why did we really have a 300+ point fall yesterday? It was not because of RBI MPC, otherwise we would have passed the swing high. How many of you think it could be because of the worsening situation in the Middle East?
Today was an inside day with no real momentum and that does not mean that we are not bullish. We will keep an eye on the Global macros, if the news about the War widening in scope both in Ukraine and Israel is true then it could really kill the optimism. Just before the macros worsen - GOLD prices go up. An escalation of tensions will shoot up the OIL prices as well. At present, we have both.
XAUUSDThe departure from the upward trend channel has led this product into a significant price decline. It is currently trading below the resistance levels of 2285 and 2290. A strong downward trend was established after taking profits at the $2305 mark, with stable trading activity observed on the 1-hour chart.
Given these observations, it wouldn't be surprising to anticipate further price drops after testing the aforementioned resistance levels (as illustrated on the 2-hour chart), with an expected decrease to $2.248.
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"In a world of uncertainties, gold remains a timeless anchor"After facing rejection four times at the @2080 price level over a span of 1302 days, there's a compelling possibility of a breakout. Each rejection indicates a significant resistance point, but the frequency of attempts suggests growing pressure for a potential breakout.
XAUUSD: Setting new highs!Today's gold price gently adjusted, from $2,300 to $2,272, reflecting volatility but not eclipsing the long-term growth trend. In the face of inflationary pressure and positive economic data, the Fed may continue its strict monetary policy. However, policy flexibility is still the driving force behind gold prices, along with pressure from the national debt, creating a solid foundation for price increases. Gold, therefore, is still an attractive investment channel, resistant to inflation and instability.
From a technical perspective: price is still well supported by EMA 34.89. It is expected that the price will recover after the correction and retest the EMA 34.89.
XAUSUD is ready🚀XAUUSD Which is showing a great opportunity XAUUSD is ready to breakout. what is your view please comment it down. We are Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
Gold price extends pullback from record high ahead of US NFPAfter rising for seven consecutive days, the spot Gold price (XAUUSD) witnessed a pullback from an all-time high and closed in the red. That said, the precious metal’s retreat remains intact early Friday as the US Dollar pares weekly losses ahead of the key US employment data, mainly the Nonfarm Payrolls (NFP). Technically, the XAUUSD justified overbought RSI conditions and sluggish MACD signals to ease from the record high. This suggests brighter chances of the bullion’s further pullback toward a one-month-old previous resistance line, close to $2,258 by the press time. However, the quote’s downside past $2,258 appears difficult as an ascending trend line from late February challenges the bears around $2,220. Even if the commodity price manages to break the $2,220 support line, the $2,200 threshold and a four-month-old horizontal region surrounding $2,141-50 will be tough nuts to crack for the bears before taking control.
On the flip side, the Gold price rebound needs validation from the $2,300 threshold and downbeat prints from the US employment data. Following that, an upward-sloping resistance line from March 21, close to $2,313, will restrict further advances of the XAUUSD. It should be noted that the quote’s sustained run-up beyond $2,313 enables it to aim for the 78.6% and the 100% Fibonacci Extension (FE) levels of its February-March moves, near $2,345 and $2,398 respectively. Following that, the $2,400 will act as the final defense of the sellers.
Overall, the Gold price remains bullish beyond $2,141 but a short-term pullback can’t be ruled out unless today’s US jobs report disappoints the US Dollar bulls.
