What are the opportunities for gold today? after retesting the 1915-1916 resistance, we see the bulls were dominating yesterday as the market price went up. I myself predict that the bears will attack and lower the price of gold when EMA 34 and EMA 89 intersect. The possibility for the bulls to push the price to 1935 and test the upper resistance (in fibonacci)...
The world gold price fell sharply to the threshold of 1,930 USD/ounce in the context that the DXY index (measurement of the volatility of the USD against 6 major currencies in the world) increased rapidly to 104.6 points. The greenback rose as the Fed was about to have a meeting on September 19-20. Market signals suggest that the US central bank may not raise...
Edward Moya, senior market analyst at OANDA, said: “Global bond yields are surging and there seem to be concerns that global growth concerns could get even worse and that That gets people back to the dollar.” Worries about global growth, especially in China and the euro zone, have pushed haven demand for the currency to its highest in months, making gold more...
Reason Behind the Sell Projection 1. Market Clearly on Strong Downtrend.The Bearish Spinning Top candle Stick Pattern Confirms the further Sell Movement towards 1890 which last week Low 2. Fibo retracement Indicator indicates the assset reach the swing High 1924-1930 and then Make continuation of trend 3. Breaked the support @ 1915 and retesting teh area Again...
Reason Behind XAUUSD Buy Limit 1. Clearly Obey the strong Support @ 1850 which is 8 month Low 2. Obey the Downtrnd Line and retest the trendline High of 1930 which is Upper Line Overall possible Outcomes XAUUSD BUY @ 1850 SL 1830 TP 1930
The world gold price today listed at 1,917 USD/ounce, down 10 USD/ounce compared to the early hours of the morning. The world gold price continued to decline today as the dollar soared after China released many disappointing economic data. Besides, the US economy is making strong recovery steps. The growth rate of 2.4% in the second quarter of 2023 exceeded...
Fed interest rate instability causes gold to plunge seriously, Fed officials offered different views on future rate hikes by the central bank. Fed Governor Michelle Bowman said on Monday that more rate hikes may be needed to bring inflation closer to the Fed's annual target range. on the 4-hour chart, we can see gold's bearish momentum developing, 1900 round...
Inflation is expected to have picked up again after a sharp decline in June- a scenario that could push up expectations of more interest rate hikes from the Federal Reserve. Gold is expected to retreat further on a strong inflation reading, while the dollar is set to appreciate. The prospect of higher-for-longer U.S. interest rates has weighed heavily on the...
Some signs of recovery in the US manufacturing sector and construction spending boosted the dollar, as markets worried that the resilience of the US economy would give the Fed enough room to keep increasing. interest rate. This concept has influenced the price of gold and most other metals, which can be lost in a higher interest rate environment. The dollar's...
Reason Behind XAUUSD/GOLD Sell 1. Last Week Rejection Over the Resistance @1980 which make the Formation of Clear Neew Downtrend Channel 2. Bearish Engulfing Candlestick Pattern Make positive for the Sell Movement Over the last week Support over 1940 which is our support and make lower as per our expectation to 1910 3.Continuation of Last W pattern still...
US inflation is still trending well above the Fed's annual target, which is still likely to signal at least one more rate hike this year. Rising interest rates are bad for non-yielding assets like gold, as they drive up the opportunity cost of holding gold. This trade has broken gold until 2022 and has limited the yellow metal's gains so far this year. SELL...
Gold prices fell slightly on Monday as anticipation of a key Federal Reserve meeting kept investors wary at the start of the week, while copper prices fell sharply on concerns about slowing demand. The dollar rally, ahead of the Fed meeting, also weighed on metals markets, with the greenback pulling further from 15-month lows hit in early July. SELL XAUUSD zone...
The yellow metal has found support above $1,950, keeping it above year-to-date lows and within sight of a record high. But gold prices stalled around these levels, awaiting fresh signals from the central bank ahead of next week's closely watched Fed meeting. The prospect of interest rates staying higher for longer also limited the outlook for gold, as well as...
Although inflation is still well above the Fed's 2% annual target. This is likely to attract more central bank rate hikes in the near-term, with markets broadly pricing in a gain of at least 25 basis points at its meeting in late July. A host of Fed officials also forecast more rate hikes in the coming months, warning that core inflation remains high and at risk...
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...
Reason Behind SELL Projection 1. Breaked Support 1910 and retest For further Fall towards 1890 2. RSI 14 Below 50 which trends Bearish Trend IN 1H 3. Stochastic Overbought 5,3,3 Which make the asset Fall Overall Possible Outcomes XAUUSD SELL @ 1913 SL 1922 TP 1 1900 TP 2 1890
Gold price struggles to make any significant progress on Tuesday and trades within a narrow range, just above the $1,920 level during the Asian session. The XAU/USD pair remains close to a three-month low reached last Friday and could potentially drop below the 100-day Simple Moving Average (SMA). The upside for Gold price is limited by the hawkish stance of...