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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 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 Still in Bart Pattern, Struggling in $1190-$1205 XAUUSD Technical Overview: Pivot: 1193.70 Key Resistance: 1197.45 - 1200.25 - 1203.59 - 1207.89 Key Support: 1193.70 - 1190.55 - 1188.10 - 1184.22 Day Trading Range: 1186 - 1204 Technical Indicator: RSI: Indicator shows down side momentum, moving around below 50 level. MACD: MacD loosing bulls side power. Moving Average: SMA 55 (1200) & SMA 200 (1198) both are strong resistance for Gold today. Technical Trade Idea: Most Likely Scenario: long positions above 1193.70 with targets at 1200.45 & 1204.55 in extension. Alternative scenario: below 1193.70 look for further downside with 1190.25 & 1187.25 as targets. Overall, Gold is still range bound with support levels lined up at 1193.90, 1192.70, 1189.50 and 1187.50. Technically, the trigger point for an acceleration to the downside is 1187.50. This is because under this level, there is no support until $1167.10. If buyers continue to come in to defend 1193.90 to 1187.50, then this could generate enough counter-trend momentum to fuel a rally into 1205.90 then possibly 1215.10. Gold futures closed lower on Wednesday mostly in reaction to the Fed’s widely expected rate hike. However, there was a little improvement late in the session after the initial reaction to the news as traders interpreted the Fed’s monetary policy statement and comments from Fed Chair Jerome Powell as dovish. Gold could pick up a bid on Thursday if investors continue to price in a dovish Fed. Furthermore, the market could get support from lower Treasury yields, a softer U.S. Dollar and a drop in demand for higher-yielding assets. Thanks YoCryptoManic
FX_IDC:XAUUSD
by yoCryptoManic