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Gold back in range Gold price is now again entered in range area and we have to wait for breakout this range area for next move, The uncertainty around the US presidential election and Middle East tensions might boost the safe-haven demand, supporting the gold price. On volume profile we can see that the current price is trading under High Volume area, in Lower side if price breakdown Friday low then we can expect test at weekly S1 or at psychological support at 2700, In higher side the resistance is at weekly pivot (2750) and Friday High (2761) is main hurdle for bulls. To conclude this we have following trade opportunities for Intraday : Currently we have to wait as price is in range: and after range breakout: For buy either wait for breakout on Friday High or wait for lower Levels near 2700-10 area. For sell: Wait for breakdown the Friday Low
OANDA:XAUUSD
by TheGoldenCircle
Gold flirts with sellers in a bullish channel ahead of US NFPGold is stabilizing after its largest daily decline in 15 weeks, as traders await Friday's US Nonfarm Payrolls (NFP) report. In doing so, the precious metal bounces back above the 50-SMA but struggles to reclaim its previous upward trend, signaled by a three-week-old rising wedge. Still, it remains within a bullish channel established since early August. Bulls need conviction to retake control Even with gold's recent bounce and its position within a multi-day bullish channel, Thursday’s confirmation of a rising wedge bearish chart formation, combined with bearish MACD signals and a lack of oversold RSI, raises concerns for buyers. Key technical levels to watch Gold buyers focus on the rising wedge's bottom near $2,762 to regain control. If they succeed, the next targets will be the wedge's top at around $2,796 and the bullish channel’s upper line at about $2,810. A firm move above $2,810 could lead to the bullion’s gradual rise toward $2,900 and potentially $3,000. On the other hand, Gold sellers are looking at Thursday’s low of $2,731, with the previous weekly low of around $2,708 in their sights. Key levels for bears include the bullish channel bottom and the 200-SMA near $2,687 and $2,670, respectively. If gold drops below $2,670, it may be set for a decline toward the rising wedge target of $2,570. Bulls in control, but sellers seek opportunities The recent bearish chart pattern offers sellers a chance for short-term gains, especially if the US employment report impacts gold prices. However, buyers are expected to maintain their hold on the market.
OANDA:XAUUSD
by MTradingGlobal
Gold Prices Continue to Surge, Reaching New HighsHas everyone seen today’s news on gold prices? Gold never ceases to fascinate me – what a fantastic day! Gold prices today have continued their strong rise, setting a new record. This rally is driven by investor concerns ahead of the upcoming U.S. presidential election. During times of political instability, gold is often viewed as a safe-haven asset, attracting strong capital inflows. Additionally, concerns about the global economic situation are adding to gold’s appeal. Looking at the technical chart, gold’s price is supported by the 2,749 and 2,715 levels, giving it a double layer of strength and making it easier to break the 2,787 resistance level. The upward trend is further reinforced as the 34 EMA and 89 EMA lines have yet to show any signs of reversal. From these positive indicators, investors can anticipate a continued short-term upward trend. If gold maintains above these support levels, a new peak is certainly within reach. Do you think gold will keep rising, or will it give us a scare with a reversal? Let me know what you think!
OANDA:XAUUSD
by Alisa_Rokosz
Gold Price on October 30, 2024: Reaching a New RecordAs I predicted yesterday, gold prices have reversed and surged sharply. This increase is driven by concerns surrounding the U.S. election, tensions in the Middle East, and expectations that the Federal Reserve (Fed) will cut interest rates in November. All these factors have propelled gold to an all-time high. Furthermore, the intensifying competition between Donald Trump and Kamala Harris ahead of the November 5 election has also contributed to this upward momentum. Examining the technical chart, gold is trading around 2,778, up by 0.1%. In an upward price channel, gold is gaining momentum, moving towards new targets. If this trend continues, gold may conquer the next resistance levels, with the 2,800 mark within sight. Technical indicators like the RSI and MACD are also showing strong buy signals, further strengthening the positive outlook for this precious metal. Does anyone else share my prediction? If you have more solid insights, feel free to comment and let me know!
OANDA:XAUUSD
by Alisa_Rokosz
Gold near 2800Gold climbs to new ATH at 2,781 as mixed US data bolsters expectations of a Fed rate cut in November. Last day candle is a good bullish candle and gold price moving higher today in continuation , price is now trading above weekly R1(2767) and testing rising wedge pattern resistance trendline on daily time frame , from here price can test psychological level 2800 or Monthly R2 (2811) and then we can expect some correction or profit booking as per daily TF ,right now there are two possibilities if we watch price action on higher time frame: First one is that price can make good correction now after testing 2780-2800 Second one is that price can make another broad range( 2750,60 -2780,2800 ) on daily before next move . The US Bureau of Economic Analysis going to reveal GDP for the third quarter today and core PCE data tomorrow which can add good volatility on Gold price for Intra day.
OANDA:XAUUSD
by TheGoldenCircle
Gold near to ATHAfter gap down opening Gold price again trading near to ATH and price now sustaining on PWH on H1. For sell we have to wait for rejection on ATH area (2755-59: for scalping only right now with tight SL on Intraday No confirmation, No sell) and for next move in higher side price need to breakout and need to sustain above this area and then we can look for buy in higher side towards weekly R1 and then R2. For a safe sell I think better wait for price to close below 2738 (As wee have High volume support at 2738-40,H1 or H4) and in Higher side there is no major confirmation right now.
OANDA:XAUUSD
by TheGoldenCircle
Gold Pauses Amid Pressure, but the Future Remains BrightThe record-breaking rally in gold has come to a halt as the USD strengthens and U.S. Treasury yields reach their highest level in three months. Meanwhile, investors are awaiting key U.S. economic data to gauge the Fed’s next move, which is also pressuring gold prices. However, Alisa predicts that if the market expects continued rate cuts, investment demand for gold will rise further, pushing prices up. The technical chart shows two strong support levels at 2,732 and 2,747, which could serve as a robust base for gold to gradually return to an uptrend. Although gold is currently experiencing a slight decline, this is likely temporary as investors await new signals. The forecast suggests that if gold can regain upward momentum, it could reach $2,900 per ounce within the next 12 months.
OANDA:XAUUSD
by Alisa_Rokosz
Silver’s breaking out of a multi-year consolidation?Silver’s breaking out of a multi-year consolidation? Sure, the charts are giving you that breakout signal—a classic rounding bottom pattern. It’s a textbook setup. But I’m telling you right now, don’t get pulled into the hype. Silver isn’t your safe haven; that’s Gold’s job. When the world’s a mess, people don’t run to Silver. They run to Gold. Silver thrives when the global economy is expanding, when there’s industrial demand driving it. But let me remind you where we are: recession fears, global instability, geopolitical tensions. None of that screams “strong economy” to me. You’re not betting on Silver breaking out of a chart pattern—you’re betting on a world that’s heading into turbulence. And the world today isn’t sending the message that industrial demand for Silver is going to boom anytime soon. So, unless you think we’re suddenly going to shake off all this uncertainty, you’re just gambling on hope. Right now? The market doesn’t justify Silver. Gold is your shield when the storm hits. Silver? Not so much.
OANDA:XAGUSD
by breakout_ninja
Gold price on October 26, 2024: Continuing the upward trendSupported by geopolitical tensions in the Middle East, concerns over the U.S. election, and expectations that the Fed will lower interest rates, gold has seen a slight increase. Additionally, palladium has reached a 10-month high, while global monetary easing policies and declining confidence in the USD continue to drive demand for gold as a safe-haven asset. The BRICS summit and the potential launch of a new currency backed by gold have further enhanced gold’s appeal as an investment. Looking at the chart, we can see that gold is gradually moving upward, albeit at a slow pace, trading around 2,747. However, with solid support at 2,720, a spectacular breakout for gold could occur in the near future. It’s possible that gold will break through the resistance at 2,747 and continue its impressive uptrend. Stay tuned and watch the next movements in gold with me!
OANDA:XAUUSD
by Alisa_Rokosz
Gold portrays much-awaited pullback, focus on $2,710 & US dataEarly Friday, gold prices slipped after a brief bounce from a week-long support level, retreating from a point that has shifted from support to resistance. Traders are closely watching the September U.S. Durable Goods Orders. This movement highlights gold's defense against a mid-week rejection of a bullish trend, signaling the anticipated price pullback. Sellers flex muscles Gold is struggling to regain momentum, facing rejection from recent highs. With bearish signals from the MACD and an RSI close to 50, further declines in gold prices seem likely. However, strong support levels may challenge sellers' quest for lower prices. Key technical levels to watch In the past week, gold has seen multiple peaks and troughs, with the 50-day simple moving average (SMA) highlighting $2,715-$2,710 as a crucial support zone for sellers. Below that, the 38.2% Fibonacci Extension of gold's movements from September to October and the previous monthly high near $2,686 could attract bearish interest. Importantly, the upward-sloping trend line from early August and the 200-day SMA, around $2,657 and $2,638, respectively, will serve as final defenses for buyers before control shifts to sellers. On the upside, gold buyers are looking for confirmation from the lower boundary of the bullish channel, around $2,753. A successful breakout could lead to a rise towards the recent peak of $2,758 and potentially up to the channel’s upper line near $2,790. The 78.6% Fibonacci Extension at $2,772 and the $2,800 mark are additional upside filters to watch for the XAUUSD bulls. Bulls run out of steam Despite several strong support levels, the anticipated strength of the US dollar after upcoming economic data and recent technical consolidations indicate a potential short-term decline in gold prices. However, the overall bullish trend remains intact unless prices fall below $2,638.
OANDA:XAUUSD
by MTradingGlobal
Gold is in correction Gold price facing resistance at Fibonacci golden zone (2733-39: marked with red zone) and now moving towards the support area (green zone : at Wednesday low), under PDH and under resistance trendline sell is good towards the support area where price seems to be completing H&S formation and the neckline is at 2708-10 area, if price breakdown from H&S formation a good correction is expected. On buying side we have to wait for breakout at PDH and breakout on the resistance trendline (Why Buying? because buying is still good if we go through the footprint chart ,if we watch last two days delta , the delta is negative but not strong enough to justify any deep correction as of now).
FX:XAUUSDShort
by TheGoldenCircle
Silver DivergenceDivergence and Gold/Silver Ratio Gold and silver are thought to move together, and often they do. There are periods where the Gold Trust (GLD) and Silver Trust (SLV) move in opposite directions and periods where one metal outperforms the other. Gold is currently outperforming silver. Such discrepancies occur and are monitored by the gold/silver ratio. The gold/silver ratio shows how many ounces of silver it takes to buy an ounce of gold. Since 1975, the average is near 60; right now it stands near 80 ($1,187 divided by $14.99). While gold outperformance, or silver's underperformance relative to gold, was very noticeable in early 2016, this has actually been going on for a long time. The outperformance has become even more pronounced since 2016. To start 2016, gold traded at $1,069 and silver at $13.80 -- the gold/silver ratio of 77.5. As of Oct. 2018, it's at 80. Gold prices have risen relative to silver prices quite steadily for years. This is mainly due to silver price weakness since peaking near $50 in 2011 (when silver outperformed gold).
NSE:BANKNIFTYEducation
by SkyTradingZone
Gold Loses Momentum, Profit-Taking Ramps UpYesterday, gold took quite an unexpected turn, didn’t it everyone? Let’s join Alisa in updating today’s gold price news! Today's gold price dropped by $33.6 per ounce, settling at $2,715.8 per ounce. This decline is mainly due to the strengthening of the US dollar and the rise in US bond yields, which reduced gold’s appeal as a safe-haven asset. Additionally, profit-taking activity has also contributed to the pressure on gold prices. Looking at the 4-hour technical chart, gold is expected to undergo a price correction and shows a slight downward trend in the short term. With the key support level at $2,715, gold may gain momentum, but it will face challenges from two resistance levels at $2,738 and $2,757. These resistance levels are likely to hold back gold’s upward movement and lead to a minor decline. Although currently in a downward adjustment, gold still holds strong potential for a robust recovery. The volatile US economic landscape and the upcoming election could quickly inject fresh energy into the gold market, making it an attractive safe-haven once again. So, make sure to keep a close eye on it!
OANDA:XAUUSD
by Alisa_Rokosz
Gold : Finally taking a breakAs discussed in yesterday's gold update that gold was due for a correction , accordingly we have seen a good correction in yesterday's trading session. Last day price close with a bearish Engulfing candle from a key level (Weekly R1) and now the major support as per volume (2738-40) is going to act as resistance area, also if we draw Fibonacci levels for last day candle we have now to major resistance in higher side for gold, one is at 2733 and another is 2739, so for intraday under these levels we can look for sell opportunities and we can look 2700 or low as our target .CPR is also descending today , any breach from PDL can result in continuation into lower side.
OANDA:XAUUSDShort
by TheGoldenCircle
Gold Surges Strongly, Conquering Unprecedented HeightsHello everyone. How is gold performing today? Let's discuss! Geopolitical tensions, especially the upcoming U.S. Presidential election, are driving the demand for safe-haven assets like gold higher. The global gold price has reached a new record and may continue to rise if the situation in the Middle East remains tense. Additionally, global monetary easing policies are also supporting gold prices. Gold is currently stable around $2,752, with the EMA 34 and EMA 89 acting as reliable support levels. After being supported at the critical $2,720 level, gold gained momentum but paused to accumulate at the resistance zone of $2,739. However, with its strong uptrend, gold is expected to surpass this resistance and aim for the next target of $2,770. With the current strong supporting factors, gold has a very bright outlook. However, investors should closely monitor market developments and be ready to adjust their portfolios to cope with potential risks.
OANDA:XAUUSD
by Alisa_Rokosz
Gold Intraday PlanGold prices extended gains in yesterday trading session for the fifth day out of the last six and reached an all-time high at 2,748, just below of the psychological 2,750 mark. Geopolitical tensions and expectations that the Federal Reserve would continue to lower borrowing costs are helping gold bulls right now. As per price action gold price Invalidated the Gravestone doji pattern that was formed in Monday trading session and sustaining the price over to major support area 2738-40 (As visible on Volume profile).Today price opened with small gap down which is indication that the current over extended bull run is somewhat exhausting and need a break/ pause ,so selling with calculated risk is seems to be favourable at current elevated levels and if price breakdown this support area on volume profile then we can expect a good correction towards 2700 or low.
OANDA:XAUUSDShort
by TheGoldenCircle
Silver is going to continue the rally Up as Historic Trend showsChart Understanding: -- XAUUSD is price of 1 ounce of Gold in USD. Also known as Spot gold price chart. -- XAGUSD is price of 1 ounce of Silver in USD. Also known as Spot Silver price chart Spot Gold to Spot Silver price ratio of last 20 years shows how silver will trend in the near future. -- When graph goes down, Silver rises. Analysis -- Last time when silver was at an all time high $34 USD/ounce, the ratio was at 46:1. -- The ratio fell below the lower band and thus silver prices fell as mean reversion came to effect. -- This time, when silver is at $34 USD/ounce, the ratio is at 79:1. -- If mean reversion will happen this time, then it means silver still has a lot of price hike to catch to attain that. -- If ratio of 66 is to be attained, keeping gold price constant, the silver price needs to increase to $41.5 USD/ounce, which is an increase of roughly 23% from current price. As such, silver seems to be a better bet in the current uncertain times to give good returns compared to gold. The historical valuation of both precious metals show that silver has long been lost in the valuation race and has lot to catch. "A historical analysis by the World Gold Council shows that despite gold’s current higher market value, silver’s intrinsic value is higher due to its relative rarity — five times less abundant than gold (World Gold Council, 2023). As historical and intrinsic value factors realign, silver’s price could adjust to reflect its true worth, potentially exceeding gold’s value in the (distant) future."
OANDA:XAUUSDLong
by fvs99
2
Gold Rises Despite the Increasing USD and Bond YieldsToday, Alisa brings you more updates on gold prices. Let’s discuss together! Gold prices continue to be supported by a series of geopolitical instabilities in the Middle East, especially the escalating tensions in areas such as Israel and Palestine. In addition, expectations of monetary easing policies from the U.S. Federal Reserve (Fed) at the early November meeting are also a significant driving factor. Despite the rising USD and bond yields, the price of the precious metal has risen sharply. According to the technical chart at 1:00 AM, gold is fluctuating at 2,738, up by 0.6%. With solid support at 2,716 USD and decreasing selling pressure around the 2,737 USD resistance zone, the precious metal is showing positive signs. If gold successfully breaks through the current resistance level, there is a high possibility of forming a new upward trend and establishing a new peak. With the current complex developments in the gold market, what are your thoughts on the outlook for this precious metal? Feel free to share your opinions!
OANDA:XAUUSD
by Alisa_Rokosz
Gold : Due for correctionGold prices hit another record high during US session, yet it paused its advance amid elevated US Treasury bond yields and a strong US Dollar (But gold ignored the DXY move completely in last week). On daily close as per price action we can see a gravestone doji which can open door for correction. So for today the plan is to sell under last day high , we can sell near CPR area(2722-2727) or wait for pullback to daily R1(2735) for possible sell opportunities, On lower side as you can see that price is currently in over elevated region and price did not tested the weekly pivot(2694) , so first we can expect a test at weekly pivot for this correction and then we have to watch how price going to react there .
OANDA:XAUUSDShort
by TheGoldenCircle