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Goldforecast

Gold Next week Forecasting, Ready to FLY....Good Evening Traders, I am sharing Gold possible moves for the upcoming week. Gold is moving ATH (All time high), Levels due to the rising geo-political risk in the Middle East after the alleged reports of Israel's drone airstrike in Iran and still, there is no such possibilites where we can see further cool down the geo-political risk. Gold levels to understand both possible scenarios. Gold is bullish in all Time frames. selling gold this time is not a good Idea. we can see only retracements in the way of selling. Gold major and recent support is 2362 - 2352, if any case gold will break this level, only then we can anticipate Sell on retracement of same level till next support 2322. Or-else we can try to find Buy from every dip.In buy side if any candle close above 2400 then we can see buy from retracement of 2400 till 2431. 2431 is the hurdle for gold to reach 2468 to 2510 levels FOLLOW US
OANDA:XAUUSD
by vikasvasusharma
Turned down right from the opening of the new weekGold prices edged lower at the start of the week after posting solid gains from haven flows that were seen outperforming higher government bond yields across most of the globe. The price of precious metals decreased not because gold's upward momentum was over, but because the market needed to consolidate with resistance at 1,985 USD/ounce. The geopolitical situation and macroeconomic factors of the Middle East may have contributed to the increase in gold prices. The decline in the iShares iBoxx High Yield Corporate Bond Fund ETF reflects the worsening outlook for corporate bonds. This credit squeeze also affected Wall Street stock indexes and increased risks to other assets. The Middle East situation is unlikely to find a peaceful solution soon, which could maintain demand for gold despite higher Treasury yields. The 2-year Treasury note reached 5.25% last Thursday but fell to 5.10% over the weekend. The 10-year note also hit its highest level since 2007, briefly surpassing 5.0% before settling at 4.95%. The chart shows that the rise in the 10-year Treasury yield and the USD index has not yet affected the price of gold, but it is worth keeping an eye on in case of sudden movements in those markets. The sell-off of the iShares high-yield ETF could have broader consequences for stocks as companies face higher borrowing costs. SELL zone 1982$ - 1980$ - stoploss: 1986$ Buy zone1945$ - 1947$ - stoploss: 1940$
OANDA:XAUUSD
by Basil_Trading
Long term gold. 2050 COMINGCurrently gold is trading around 1980 USD and has increased a total of 7 USD today. It can be seen that after the Fed chairman's speech yesterday, gold's reaction was not too strong but still developed with the highest impressive number in the past two weeks since October 6. The reason gold prices increased cannot help but mention the fact that the gold market continues to benefit as the Israel-Hamas conflict continues to intensify. Besides, the cooling of the USD also partly supported gold's return. With gold retesting the level of 1,964 USD/ounce, this precious metal will easily surpass levels in the range of 1,985 - 1,995 USD/ounce. All resistance zones are not enough to slow down the rise of gold. Let me know your mind!
OANDA:XAUUSD
by Basil_Trading
GOLD Possible Elliott wave countsHere we had shared possible Elliot wave counts of GOLD chart in which weekly, daily, 4 hourly and hourly all these time frames counts are aligned with each others. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
GLong
by RK_Chaarts
XAUUSD Analysis until NOV 2nd, Interest rate announcement! 📉 Gold - Bearish - We look to Sell at 1615.08 ▪ The medium-term bias remains bearish. ▪ Following last week's retracement candle, the overall trend is set to continue downside. ▪ A firmer opening is expected to challenge bearish resolve. ▪ Prices are expected to stall near trend line resistance at 1675-1680.50 levels. ▪ We look to sell rallies in the coming weeks or so. -Heavy volatility is expected after the Interest rate announcement on the 2nd of Nov. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop 1615.08 🎯 Target 1: 1601.70 🎯 Target 2: 1575.30
OANDA:XAUUSDShort
by Tradeshala
Weekly Outlook : Gold Heading for 1550 levels📉 Gold - Bearish - We look to Sell at 1613.90 ▪ The medium-term bias remains bearish. ▪ Broken out of the triangle formation to the downside. ▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level. ▪ Support at the levels of 1615 weekly low can be broken. ▪ We prefer to fade into the rally with a tight stop in anticipation of a move back lower. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop: 1628.57 🎯 Target 1: 1604.22 🎯 Target 2: 1550 Let me know what you think in the comment section:
FX:XAUUSDShort
by Tradeshala
XAU/USD- Heading to 1500 levels zones.📉 Gold - Bearish - We look to Sell at 1638.90 ▪ The medium-term bias remains bearish. ▪ Broken out of the triangle formation to the downside. ▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level. ▪ Resistance could prove difficult to break down. ▪ We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop: 1648.57 🎯 Target 1: 1617.22 🎯 Target 2: 1590
FX:XAUUSDShort
by Tradeshala
GOLD trend now sell then buy as per Elliott wave counts Gold is near to complete correction very soon but only after making new lows as per Elliott wave counts which are suggesting to go short now, on completion of wave 4 it can be an opportunity to buy at lower prices to ride possible start of wave 5 can make fresh impulsive moves of some lower degrees. Right now it is in sell mode only, and can slide south towards $ 1650 and below. possible wave counts on weekly time frame macd in weekly is negative possible wave counts on daily time frame macd in daily is negative possible wave counts on 4 hourly time frame MACD in 4 hourly is positive but till below zero line possible wave counts on hourly time frame MACD in hourly down tick and can cross negative soon Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
GShort
by RK_Chaarts
What 1 hr chart says ?Fundamental Descriptions: A strengthening dollar and rising U.S. Treasury yields impacted demand for the U.S. currency-priced yellow metal, which is set for a second consecutive monthly loss for the first time since March 2021. Gold prices will be influenced by the direction of U.S. Treasury yields and the U.S. Dollar. Higher yields lower the appeal of zero-yielding gold, while a stronger U.S. Dollar makes the greenback more expensive for the holders of foreign currencies. Although last week’s economic data for April signaled the economy is still strong, traders are still not sure if this trend will continue after the 50 basis point rate hike in May, and expectations of similar moves in June and July. This suggests heightened volatility could be the norm over the near-term. Technical View: Gold Price tested the bearish Moving Average , now at $1,849, with bears eyeing a decisive break below the latter to extend the ongoing downbeat momentum. The 14-day Relative Strength Index (RSI) is inching below the midline, allowing room for more declines. Alternate View: Recapturing the daily highs of $1,857 is critical to take on the upside towards the previous day’s high of $1,864.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Description: Gold was up on Monday morning in Asia. A weaker dollar gave the yellow metal a boost, but a move towards riskier assets in Asia capped gains. Gold Price ended Friday with mild gains above $1,850 while having booked the second straight weekly gains, as the US dollar correction extended alongside the US Treasury yields’ amid subsiding aggressive Fed tightening expectations. Technical View: Having found strong buyers once again at the bearish 200-Simple Moving Average, now at $1,849, gold price is looking for a retest of the previous week’s high of $1,870. Alternate View: Failure to resist the latter will reinforce the selling interest, opening floors for a fresh downswing towards the May 18 low of $1,807.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was up on Friday morning in Asia and was set for a second weekly gain after the dollar retreated from 20-year highs. Gold has benefited from a strong bearish reversal in the dollar. On May 13 the dollar index hit an apex trading to a high just above 105. In the last nine trading days, the dollar has declined to its current value of 101.775, or a 3.23% decline in value when compared to the basket of currencies that are compared against the dollar. Technical View: The next critical target is at $1,861, which bulls will have scale on a convincing basis to validate an upside break . Alternate View: If bears yield a sustained break below the 100-SMA, it will automatically invade the support as well, confirming a downside break.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Description: Gold was up on Thursday morning in Asia, while U.S. Treasury yields gained. Gold’s response has been quite disappointing, with the FOMC minutes also boosting risk sentiment. Gold cut some dollar strength-driven losses after Wednesday’s Fed minutes suggested the central bank would raise interest rates by 50 basis points in June and July 2022. Technical view: According to the daily chart, Gold is poised to extend its decline. Gold has retreated below a mildly bearish 20 SMA while it approaches a directionless 200 SMA, offering dynamic support around 1,838.00. Technical indicators, in the meantime, retreat from their midlines, gaining bearish traction within negative levels. Alternate View: Strong resistance is placed at $1,856, which is the horizontal 21-SMA, above which the hurdle at $1,863 will get tested.
FOREXCOM:XAUUSD
by RASteven