Some signs of recovery in the U.S manufacturing sector and construction spending boosted the dollar as markets feared that resilience in the U.S. economy will give the Fed enough headroom to keep raising interest rates. On the H3 chart, bearish momentum is clearly formed, I think the price line will return to retest the 196x support area before continuing the...
Copper falls below $4 amid slowing global production. The outlook for the yellow metal remains hazy, especially with US interest rates set to remain higher in longer time this year. While gold is expected to benefit from the Fed's final rate cut next year, it is expected to receive limited support in the near-term. BUY GOLD zone 1932 - 1929 Stop Loss :...
Gold is in a very decisive phase. The movement from here can decide the trend for next couple of days. While 1940 is the important support, if this breaks we can see substantial downside in Gold. Holding on to 1940 levels can act as a support for another 30-40 points up which is the nearest resistance for it.
Hello traders! Today, I am sharing a strong trade idea for XAUUSD that could potentially result in profits. The gold price has been showing a bullish momentum, making higher highs and higher lows (HL) on the daily chart, indicating a potential uptrend. My suggestion is to consider buying XAUUSD from 1942.50, with a stop loss at 1935. The first target is at...
The price of gold is heavily influenced by the economic data of the United States. In the second quarter, the US economy experienced a growth rate of 2.4% on an annualized basis, surpassing expectations. This indicates that there are no immediate plans for aggressive interest rate hikes by the US Federal Reserve, which increases the likelihood of a smooth and...
Gold 25/07 There are many disadvantages ahead. Gold's outlook is also uncertain as US interest rates are likely to stay higher for longer. The US has not escaped the recession, the fate of the economy is still in the hands of the Fed. BUY GOLD zone 1945 - 1947 Stop Loss : 1940 Take Profit 1: 1950 Take Profit 2: 1955 Take Profit 3: 1965 Note: Installing TP SL...
Gold Sell now down trend sideways breakout already. Target will be act as next support once reached.
Gold prices established a new level of support amid persistent dollar weakness, while copper fell sharply on worries about importers. The yellow metal traded close to a one-month high, tracking the dollar's slide to 15-month lows after a series of weak U.S. inflation indicators fueled fish stocks. bet that the Federal Reserve is about to hit its highest interest...
Bullish Alt Shark Cmp - 58055 Buy PRZ - 58019/58126 SL - 57700 Target - 58900/59475/59900
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...
The price of gold declined yesterday after the US announced that 497,000 new jobs were created in June 2023, surpassing market expectations of 267,000. This news led to a significant appreciation of the USD and a decrease in the 2-year US bond interest rate from 5.12% to 5.04%. As a result, many investors shifted their capital into USD and bonds, reducing the flow...
The 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...
Gold prices steadied after a slight overnight gain on Wednesday as investors worried ahead of the Federal Reserve's June meeting minutes, while copper fell amid concerns over the US trade war. - New Middle. The yellow metal has enjoyed a small rally over the past three sessions, after plummeting below the $1,900 support last week. Fear of US interest rate hike is...
Now, 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...
The current stance of central banks favoring tighter monetary policies is expected to hinder the rise of gold prices. Additionally, the likelihood of a 25 basis points rate hike at the upcoming FOMC meeting, coupled with a more aggressive approach taken by major central banks, is likely to continue exerting pressure on the non-yielding gold price. Furthermore, the...
The Gold price is being affected by a slight increase in the US Dollar. After experiencing significant losses on Friday, the US Dollar is attracting some buyers and recovering. This is seen as a key factor that is putting pressure on the price of Gold. Recent data from the United States shows that the Personal Consumption Expenditures (PCE) Price Index decreased...
The XAU/USD pair is facing downward pressure due to the modest strength of the US Dollar. Federal Reserve Chair Jerome Powell has indicated that two rate increases may occur this year, including the possibility of one at the upcoming policy meeting. Powell also stated that inflation is unlikely to reach the Fed's 2% target until 2025. These factors have...
Gold 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,...