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XAU price prediction for the first week of September 4, 2023More than two-thirds of retail investors expect precious metal prices to rise, according to Kitco News' latest weekly gold survey. And after weeks of caution and controversy, economic analysts are also optimistic about gold. Specifically, 64% of Wall Street analysts surveyed expect gold prices to rise this week. Sixty-seven percent of retail investors who took part in the Main Street online poll agreed. According to the latest survey, retail investors expect gold prices to hover around $1,962 an ounce this week. Adrian Day – The chairman of Adrian Day Asset Management said the price of gold will rise in the near future. He assessed that recent data appeared to favor gold. More than two-thirds of his investors expect the precious metal commodity to rise, according to Kitco News' latest weekly gold survey. And after weeks of caution and controversy, economic analysts are also optimistic about gold. Specifically, 64% of Wall Street analysts who took part in the survey expect gold prices to rise this week. A similar view was shared by 67% of retail investors who took part in a Main Street online poll. According to the latest survey, retail investors expect gold prices to hover around $1,962 an ounce this week. Adrian Day – The chairman of Adrian Day Asset Management said the price of gold will rise in the near future. He said recent data seemed to support gold. That's because the latest economic report points to a slowdown in the global economy. Markets are pricing in the end of the U.S. rate hike cycle. According to the current US dollar exchange rate (24,240 VND/USD), the world gold price is 56,948 million VND/tail, he is 11,302 million VND/tail lower than the domestic market. Therefore, today, September 4, 2023 (as of 7:00 am), the price of gold on the world market is around US$1,941 per ounce.
OANDA:XAUUSDLong
by Forex_Global
1
Predict XAU's direction over the weekend (August 31, 2023)Spot gold prices have peaked at 1,850 USD/ounce. Then dropped to trade around 1,838 USD/ounce. Also on January 3, US gold futures increased 1% at 1,844.10 USD. According to CNBC, gold prices have been trending up since the beginning of November 2021 when the market was chaotic. Mr. Ole Hansen, head of commodity strategy at Saxo Bank (Denmark), commented: "We are looking for a better gold price in 2023. Economic recession, stock risks, copper Weak USD and inflation - will support gold prices." In the immediate future, Mr. Hansen believes that important events for gold prices will depend on the latest meeting of the US Federal Reserve (FED) on January 4 and the employment report on January 6. Mr. Hansen forecasts that gold will look for the next resistance levels at $1,850 and $1,878.
OANDA:XAUUSDShort
by Forex_SCALP_VIP
2
Gold buyers remain hopeful on NFP day, focus on $1,955Gold braces for the second consecutive weekly gain as it confronts the key resistances on the US Nonfarm Payrolls (NFP) day. Among them, the four-month-old descending trend line is the immediate challenge for the XAUUSD bulls around $1,945 ahead of the $1,955 crucial hurdle comprising the 100-SMA and the previous support line from late 2022. It’s worth noting that the quote’s successful rebound from the 50% Fibonacci retracement of its November 2022 to May 2023 rise joins the bullish MACD signals to favor the upside bias for the metal price. However, the RSI line speedily approaches the overbought territory and hence suggests the limited room towards the north for the metal, which in turn highlights the $1,955 level as a tough nut to crack for the bulls. In a case where the commodity remains firmer past $1,955, the odds of witnessing a quick rally towards the 23.6% Fibonacci ratio of around $1,987 can’t be ruled out whereas the $2,000 threshold could check the run-up afterward. On the flip side, the $1,900 round figure will precede the 50% Fibonacci retracement level of around $1,898 to restrict the near-term downside of the Gold Price. Following that, the lows marked in June and August, respectively near $1,893 and $1,885 will be in the spotlight for the sellers. Should the XAUUSD remain weak past $1,885, its fall toward the 61.8% Fibonacci retracement of near $1,858, also known as the Golden Fibonacci Ratio, becomes imminent. Overall, the Gold price approaches the interesting resistance territory as markets await the US employment report for August.
OANDA:XAUUSD
by MTradingGlobal
Predict the path of gold in the coming daysThe gold price trend forecast, despite short-term selling pressure, said analysts at Australia-based bank ANZ maintain their medium to long-term bullish outlook for the metal. precious type. Daniel Hynes, senior commodity strategist at ANZ, said that while he cannot rule out a drop below $1,900 an ounce, he sees signs of solid support in the market. While ANZ remains bullish on gold, the current lackluster environment has prompted the bank to push back on its prediction of a new record high. The Bank of Australia forecasts prices to average around $2,050 an ounce by the fourth quarter of 2023. Prices are expected to hit a new high by the end of the first quarter of 2024, with prices averaging around $2,100. With the domestic gold price falling and the world gold price listed at Kitco at $1,891.4/ounce (equivalent to nearly 55 million dong/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between the gold price on August 17 in the domestic and international gold market is over 12 million dong/tael. XAUUSD BUY 1893-1895💯 ✅ TP1: 1925 ✅ TP2: 1923 SL: 1888
OANDA:XAUUSDLong
by Forex_SCALP_VIP
XAUUSD trend over the weekendThe gold price trend forecast, despite short-term selling pressure, said analysts at Australia-based bank ANZ maintain their medium to long-term bullish outlook for the metal. precious type. Daniel Hynes, senior commodity strategist at ANZ, said that while he cannot rule out a drop below $1,900 an ounce, he sees signs of solid support in the market. While ANZ remains bullish on gold, the current lackluster environment has prompted the bank to push back on its prediction of a new record high. The Bank of Australia forecasts prices to average around $2,050 an ounce by the fourth quarter of 2023. Prices are expected to hit a new high by the end of the first quarter of 2024, with prices averaging around $2,100. With the domestic gold price falling and the world gold price listed at Kitco at $1,891.4/ounce (equivalent to nearly 55 million dong/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between the gold price on August 17 in the domestic and international gold market is over 12 million dong/tael. XAUUSD BUY 1893-1895💯 ✅ TP1: 1925 ✅ TP2: 1923 SL: 1888
FX:XAUUSDLong
by Forex_SCALP_VIP
28 Jul ’23 Post Mortem on Nifty Beautiful recovery final 45mts🐂The open was as expected and the first 2 candles made sense when we retouched yesterday’s swing low.But what followed after that was more of a discouragement for the bears. No matter how hard the bears try - they are unable to push down the prices. We had a gradual fall to the intraday low of 19563 which was hit by 13.45 - and this was the time by which the bulls took over. The bulls were able to rally Nifty back to yesterday's closing level. By 15.07 Nifty turned green and then dipped a bit to close at 19646 just 0.07% in red. The last 45mts helped Nifty climb 99pts ~ 0.51% on what looked like a fairy tale like ending. The real reason was the lack of participation of commodity, consumption, energy, fmcg, pharma and metal indices. Finally it seemed like only the financial and IT indices wanted RED. What today’s move means is Nifty50 is an untradeable range as of now, we need to either break 19521 on the downside or break 19729 on the upside for a directional game. ... Comment with your thoughts, opinion or bias, I will respond with mine :)
NSE:NIFTY
by viswaram
Gold price pullback remains unimpressive beyond $1,900Gold price reverses the previous week’s retreat from an eight-week-old descending resistance line, grinding higher past the 100-bar Exponential Moving Average (EMA). However, the nearly overbought RSI (14) suggests another pullback from the aforementioned immediate resistance line, near $1,962 at the latest. With this, the XAUUSD is likely to break the immediate support surrounding $1,935, comprising the 100-EMA. However, the 200-EMA, close to $1,900 at the latest, appears a tough nut to crack for the metal bears to break before retaking control. In a case where the price remains bearish below the $1,900 mark, the odds of witnessing a quick slump toward the early March high of around $1,858 can’t be ruled out. On the contrary, a daily closing beyond the aforementioned descending resistance line, close to $1,962, could renew the Gold Price upside towards challenging the previous monthly high of around $1,983. Following that, the $2,000 round figure and April’s peak of around $2,048 will be in the spotlight before directing the XAUUSD bulls toward the yearly high of near $2,067. Overall, multiple hurdles toward the north and the latest retreat from the key resistance line teases the Gold sellers but crucial EMAs stand tall to challenge the commodity bears.
OANDA:XAUUSD
by MTradingGlobal