Gold has recorded a 5% decline from its all-time high, reflecting profit-taking amid a strong US economic outlook. The economic recovery is evident with a strong 2.8% GDP growth in the second quarter and falling inflation, reducing the appeal of gold as a safe-haven asset. Gold prices could continue to decline if US economic data continues to be positive and bond...
Hello all traders! Gold price (XAUUSD) today continued its downward trend and reached 2376 USD. After seeing a sharp decline to almost 2365 USD in Asian trade after 2400 USD was broken by sellers. According to the outlook in the technical picture, after forming the left shoulder, head and right shoulder pattern, the price has decreased as expected and could...
💚 silver broken the 86200 level, now this level act as a resistance. 💚 Further there is support area near 78100 Price is also coming to trendline support+horizontal line support.
Gold consolidates weekly loss while posting a corrective bounce from the lowest level in 13 days as traders await the US Core PCE Price Index for June, also known as the Fed’s favorite inflation gauge. In doing so, the precious metal takes a U-turn from the 50-SMA but stays on the way to posting a second consecutive weekly loss after refreshing the all-time high...
Silverbees been moving silently. Hit ATH. Flagpole is the target. Commodities time. Metals & commodities stocks are doing good.
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C - From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave - The target of the rebound wave I measured at the price zone...
Gold has recently shown signs of rebounding from lows, with fundamentals and technicals supporting a near-term bullish trend. This is particularly highlighted by global economic uncertainty and central banks’ loose monetary policies. High global inflationary pressures continue to be a strong driver for gold prices. Gold is often seen as a hedge against inflation,...
The direct impact of Finance Minister Nirmala Sitharaman's surprise cut of customs duty on gold, silver and other precious gems and jewellery has been on the streets. Prices have crashed by around Rs 4,000 in the few hours since the budget proposal was made in parliament.2 days ago
As in the previous day's forecast, after the 5-wave trend is the ABC correction wave - Looking at H1 we can label wave a and wave b as shown on the chart. Currently, we expect wave C to complete so we can enter orders - Wave C target we measure 2 targets: price range 2420 and price range 2433. - After completing the next abc correction, it will be a 5-wave...
Gold quickly recovered from a deep drop below 2400 USD, and has now risen to 2415 USD. Current technical indicators on the daily chart, including the 34 and 89 EMA, are signaling a likely continuation of the long-term uptrend, with price having now surpassed both of these levels. In particular, the strong recovery after exposure to the EMA 34 further increases...
The US dollar rallied early Wednesday as risk-off sentiment dominated the market. Asian shares came under pressure after disappointing tech earnings reports from major companies such as Alphabet and Tesla. Alphabet achieved good revenue and profits but needed time to see results from its investment in artificial intelligence, while Tesla dropped 7% due to...
In the chart, the gold price is currently trading below the 34 EMA but above the 89 EMA, which indicates a short-term trend uncertainty. The 34 EMA provides resistance, while the 89 EMA provides support, forming a range. Gold prices have recovered from lower levels and are now approaching the 34 EMA. This could be a sign of a short-term recovery or a balance...
Gold prices (XAU/USD) struggled to gain during the Asian trading session Tuesday, although still above the lowest level of the past week. Joe Biden's withdrawal from the 2024 election has increased Donald Trump's chances, suggesting a looser regulatory environment. At the same time, the People's Bank of China (PBoC) unexpectedly cut interest rates on Monday,...
Copper has given good run up in past 10 months. now is the time for take a breadth and do some sideways movement for few months then take up the next up move. 790 - 760 may not break during this retracment
Looking at the H1 chart, we have a completed 5-wave bearish pattern - The target of wave 5 has been achieved near the price range of 2382 that I predicted yesterday - After completing the next wave 5, there will be 2 cases, the first case is that the price continues the 5-wave impulse wave pattern. The second case is the abc bullish correction pattern. -...
Gold prices (XAU/USD) extended their losing streak for a third trading day, falling to nearly $2,410 during the European session on Friday. The precious metal is under profit-taking pressure after hitting a record high above $2,480 on Tuesday. The strong recovery of the USD and bond yields pulled gold prices lower. Expectations for Donald Trump to return...
Gold prices (XAU/USD) attracted buyers in early trading on Monday, ending a three-day decline from last week's record high. Dovish expectations from the Federal Reserve (Fed) and President Joe Biden's withdrawal from the presidential race have caused some investors to cancel bets on a Trump victory. This reduces the strength of the US dollar and supports gold...
The information that President Biden withdrew from running due to his health further confirmed Trump's high chance of winning the election. This information immediately caused XAU to gap up on Monday morning Looking at H1 we see a sharp sharp decline, this is the ongoing wave 3. - At the price range of 2394, we have a strong rebound. From this rebound we expect...