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Inflation Cools, Gold Heats Up Inflation Cools, Gold Heats Up In June, the United States inflation fell to 3%, which is the lowest since March 2021. This was slightly below the market's expectations of 3.1% and a significant decline from May's rate of 4%. Additionally, the core inflation rate unexpectedly dropped to 4.8%, marking its lowest level since October 2021. The implication of this deceleration is that it could prompt the Federal Reserve to scale back its plans for interest rate hikes. With inflation showing signs of cooling, the central bank may now be inclined to raise rates only once more throughout the remainder of the year. In the wake of the inflation report gold prices shot up, soaring by more than 1.3%. The metal breached the $1,940 resistance level but fell just short of clearing the $1,960 overhead barrier. If further upward momentum materializes, it could pave the way for a potential retest of $1,975 and $1,980. At the same time, the US dollar faced a steep decline, sinking to its lowest point in over 14 months. Against the Swiss franc, it tumbled to depths not witnessed since early 2015, settling at 0.8673 francs, down 1.4%. Earlier in the session, it even touched 0.8660, marking its weakest position since the Swiss National Bank abandoned the Swiss currency peg back in January 2015. Against the Japanese yen, the dollar hits a six-week low of 138.47 yen, witnessing a 1.4% decline. Additionally, the US dollar weakens by more than 1.5% against the New Zealand and Australian dollars. Conversely, the euro surges to its highest level since March last year, reaching $1.1125. The Euro trades up 1.2% at $1.113.
BLACKBULL:XAUUSD
by BlackBull_Markets
LONG TERM SWING BUY OPPORTUNITY IN J&K BANKThe stock has strongly broken the Weekly Range. For long-term one can enter the upcoming week once the stock retests the breakout area for a long term swing trade. Please refer the Chart for SL and TARGETS. Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action. TO CONNECT WITH ME CHECK OUT MY BIO. If you like this Idea, Please do like my ideas and share it with your friends. check my bio. Please boost my ideas and send cheers as it acts as a motivation to keep posting my analysis. Thank you
NSE:J&KBANKLong
by rkinspiro1
1
3/7 GOLD. Expecting a short-term gold price recoveryThe Gold Price ended the previous week on a positive note, despite experiencing three weeks of consecutive losses. However, there was a noticeable recovery as the price bounced back from the bearish channel's support, which has been in place for five weeks. Additionally, there was an upward break of a descending resistance line that had formed two weeks prior. This resistance line now serves as immediate support at around $1,917, indicating potential for short-term bullish movement in XAU/USD. The recovery hopes are further supported by bullish signals from the Moving Average Convergence and Divergence (MACD) and the positive conditions of the Relative Strength Index (RSI) line, which is currently at 14. Moreover, the clearance of the 50-SMA (Simple Moving Average) strengthens the upward bias for the Gold Price. However, the dominance of Gold buyers is dependent on surpassing the 200-SMA and the top line of the previously mentioned bearish channel, which are respectively located around $1,948 and $1,954. On the other hand, if the price breaks below $1,913, it could pose a challenge to the key support level at $1,900, which includes the bottom line of the aforementioned bearish channel. Another downside barrier is the recent bottom around Gold Price Forecast: XAU/USD continues to bounce off $1,900 considering Fed Minutes, US NFP, 1950 price recovery expectations Set up: BUY GOLD zone: $1910 - $1912 SL 1900 Based on EMA 34, EMA 89 moving average technical analysis indicator to trend on 7/3/2023
OANDA:XAUUSDLong
by DNA_TradingFX
16
GOLD 4/7 !! The bulls are gradually regaining their positionThe current economic troubles may prevent the gold price from experiencing significant declines. Concerns about a global economic downturn, especially in China, could provide some support to gold as a safe-haven asset and prevent further losses, at least for now. Even though the Chinese Manufacturing Purchasing Managers' Index (PMI) for June was slightly better than expected at 50.5, it still reflects a slowdown compared to the previous month's reading of 50.9, maintaining market concerns. As a result, traders might refrain from making new pessimistic bets on the gold price until important macroeconomic data is released in the coming month. The struggling economy provides some backing for the XAU/USD safe-haven. Weaker economic data coming from the United States raises questions about the need for the Federal Reserve to tighten policies further, putting USD bulls on the defensive and giving a boost to the price of Gold. It's important to note that the US Bureau of Economic Analysis recently reported that the annual PCE Price Index slowed down to 3.8% in May from the previous 4.3%, and the core gauge decreased to 4.6% in April from 4.7%. Gold price prediction today remains stable in the $1920 price zone. Set up GOLD PRICE at zone: $1920 - $1922 sl $1910 Based on EMA 34, EMA 89 moving average technical analysis indicator to trend on 7/4/2023
OANDA:XAUUSDLong
by DNA_TradingFX
16
GOLD before FOMC - Waiting for a nice BreakNow, the focus is entirely on the minutes of the Fed's June meeting, for any further signals on the direction of US interest rates. This trend indicates that gold will come under more pressure in the coming months, although expectations of a potential recession in the US have also boosted some safe-haven demand for the yellow metal. Gold is waiting for a break out of the 1931.5$ price zone to break out to find the target of 1940$ and 1950$ in the near term. If implementing Break out strategy. Pay attention to the nearest resistance around 1924$ SELL GOLD zone at: $1937 - $1940 - $ SL $1945 SELL GOLD zone at: $1925 - $1928 SL - $1932 (small lot) Based on technical analysis indicators EMA 34, EMA 89 with strong resistance zone $1940 - $1943
OANDA:XAUUSDShort
by DNA_TradingFX
19
GOLD 3/7: Gold price in early June before a slight recoveryThe gold price might not suffer significant losses due to the current economic challenges. The concerns about a global economic downturn, especially in China, could provide some support to the safe-haven precious metal and prevent more significant declines, at least for now. Market worries persist even after the release of a slightly better-than-expected Chinese Manufacturing Purchasing Managers' Index (PMI) for June, which recorded a reading of 50.5, slightly lower than the previous month's reading of 50.9. This could discourage traders from making new pessimistic bets on the gold price before important macroeconomic data is released in the US at the beginning of the next month. Gold price today is fluctuating at $1910 - $1920. A slight rally is forming SET up BUY GOLD at zone : $1910 - $1912 sl 1902 Based on EMA 34, EMA 89 moving average technical analysis indicator to trend on 7/3/2023
TVC:GOLDLong
by DNA_TradingFX
18
GOLD BUY IDEAGOLD ANALYSIS: GOLD has been one of the most considered safe haven against the fall of USD. Most investors turned to consider GOLD as a safe haven due to following factors: The CORE PCE fall as expected on Friday where this indicates that FED will not out more efforts for tightening since the stubborn inflation is coming close to target. FED may pause rate hikes this year (2023) because inflation is on hand and coming closely to target which is 2%. Technically and for longer term GOLD is bearish however the current bullish waves gave room for us to closely look at important zones where we have 1893. The price has bounced from the area level now 1893 and 1911.722 because traders found the area as 61.8 Retracement of current high around 1922.689, hence there may be correction from this level back to 1904.293 which will definitely be our entry zone. Technically GOLD turns bullish for the short term where an inverted H&S formed and its neckline was broken above, our entry for the broken neckline of inverted H&S will exactly be the same level of 61.8 Retracement level of the current high which is 1904.770.
OANDA:XAUUSDLong
by CELGIB_TRADING
GOLD 1908$ - 1900$. The bulls are activating the guard forceGold traders are closely watching the potential Bear Cross on the daily chart, which is responsible for the recent decline in the price of Gold. To confirm the bearish momentum, the Gold price needs to close below the downward-sloping EMA34 and cut through the EMA89 from above. At the moment, the 14-day Relative Strength Index (RSI) is below the midline, indicating that there are still downward risks for the Gold price. If the price continues to drop, it is expected to find immediate support at the low of $1,908 on March 16. If this level is breached, the price could further decline towards the $1,900 mark. The March 15 low of $1,886 will be a crucial level for Gold buyers. On the other hand, if the price starts to rise, it will face strong resistance around the $1,930 region. Breaking above this level will challenge the bearish trend and test the confluence of the 21 and 100 DMAs at $1,944. The next significant target for the upward movement is the psychological level of $1,950. BUY GOLD zone at: $1904 - $1900 SL $1895 SELL GOLD zone at : $1926 - $1928 - $ SL $1934 (It is best to carefully review the FOMC news before entering the order)
TVC:GOLDShort
by DNA_TradingFX
20
GOLD 29/6 ? Gold has collapsed below $1900Gold price prediction: XAU/USD is facing difficulties near its lowest point in several months and appears to be at risk of further decline. The price of Gold is being negatively influenced by central banks taking a more aggressive stance. Major central banks, including the European Central Bank (ECB) and the Bank of England (BoE), have indicated the possibility of further interest rate hikes. ECB President Christine Lagarde recently commented that inflation in the Eurozone is entering a new phase that could persist for some time. Lagarde also mentioned that the central bank is unlikely to confidently say that peak rates have been reached in the near future. BoE Governor Andrew Bailey, speaking at the ECB conference, suggested that interest rates could remain at their peak levels for a longer period than what traders currently anticipate. Gold price today is approaching the price range $1900-$1903 BUY zone at: $1900 - $1903 Based on technical analysis indicators EMA 34, EMA 89 , strong support zone 1900
OANDA:XAUUSDLong
by DNA_TradingFX
20
GOLD 30/6 $$ Gold price continues to be limited, difficultThe USD is being supported by higher US bond yields, which is limiting the upside potential of XAU/USD. Meanwhile, Fed Chair Jerome Powell has restated that the Fed is likely to raise interest rates twice this year and does not expect inflation to reach the target of 2% until 2025. These statements, combined with positive US macro data released on Thursday, have reinforced expectations for a 25bps rate hike at the upcoming FOMC policy meeting on July 25-26. As a result, US Treasury bond yields have remained high and the USD bulls are benefiting. This suggests that the Gold price is more likely to decrease than increase. Gold price prediction at the end of June has not yet prospered, it can be kept at $1900 1 for a short time BUY GOLD zone at: $1895 - $1898 sl $1888 Based on technical indicators EMA 34, EMA 89 and US political economic news, buy BUY gold as the plan above
OANDA:XAUUSDLong
by DNA_TradingFX
13
GOLD 29/6 $$ Gold's power is limited by the dollarThe XAU/USD pair is being negatively affected by the moderate strength of the US Dollar. The Federal Reserve Chair, Jerome Powell, has stated that there may be two rate increases this year, and it is possible that the next policy meeting on July 25-26 could result in a lift-off. Powell also mentioned that he does not expect inflation to reach the Fed's 2% target until 2025. As a result, the US Dollar remains strong, reaching a two-week high, which in turn puts pressure on the price of Gold. However, concerns about economic headwinds caused by rapidly increasing borrowing costs could prevent traders from taking aggressive bearish positions on the safe-haven precious metal. This could help limit any further losses, at least for now. Today, gold price still tends to recover slightly, but still can't go up and down is still the main thing Set up BUY GOLD zone $1900 -$1903 Based on technical analysis indicators EMA 34, EMA 89 , strong support zone $1900
TVC:GOLDLong
by DNA_TradingFX
11
Powell hints at 2 more hikes, sends gold lower Powell hints at 2 more hikes, sends gold lower The US dollar rose on Wednesday after the gathering of central bank leaders worldwide, which included Federal Reserve Chair Jerome Powell. During the meeting, Powell left open the possibility of the Federal Reserve implementing two more rate hikes this year. Furthermore, Powell stated that he does not anticipate inflation reaching the Federal Reserve's target of 2% until the year 2025. However, investors might be hanging onto the words of Powell a little too tightly considering his central bank counterparts in the ECB and BoE presented more hawkish remarks (natural for the stickiness of inflation that these regions are facing). Christine Lagarde emphasized that the European Central Bank (ECB) remains unconvinced by the available evidence inflation is falling in the Euro Area. A revision by investors might be in order. With the rise in the USD, we are also seeing selling pressure in the XAU/USD for a third straight day. Currently, gold is hovering around $1,909 and maintaining a bearish outlook, with the potential to breach the $1,900 level. The daily chart reveals that the precious metal has dropped further below both the 20 and 100 Simple Moving Averages, which are currently converging at $1,943. Among the current levels, $1,875 perhaps stands out as the most significant support level. Despite previously acting as a resistance point, it has served as a pivot on multiple occasions.
BLACKBULL:XAUUSD
by BlackBull_Markets
GOLD 27/6 $$$ Will the bears prevail now?Investors will be closely watching speeches by top central bank officials this week, including ECB President Christine Lagarde, BoE Governor Andrew Bailey, Fed Chair Jerome Powell, and Bank of Japan Governor Kazuo Ueda. These speeches will be given at a panel discussion in Sintra on Wednesday. Additionally, Tuesday's US economic releases, such as Durable Goods Orders, the Conference Board's Consumer Confidence Index, New Home Sales, and Richmond Manufacturing Index, will also be important in influencing the price of Gold. Despite concerns of a potential recession, the downside for Gold is expected to be limited due to its status as a safe-haven asset. Gold price is currently trading around the $1927 mark, the momentary downtrend is taking up the majority Can buy zone at: BUY ZONE : $1910 - $1913 AND BIG BUY zone : $1903 - $1900 sl 1890 Analysis of moving averages EMA 34, EMA 89 with stiff support at $1900 to BUY
OANDA:XAUUSDLong
by DNA_TradingFX
20