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GOLD trade ideas

Short Term Gold Correction/profit booking/ Short Covering ExpectGold has been rising steeply from 2635 till 2745 strongly without breaching once the trend line created. This is not usual activity. The Political equilibrium which is totally disturbed due to war zone created between middle east, is at core to boost the reason for gold to spike up !. On the contrary, if the gold rally has to survive the gold rally ok 105$ and counting up has to book certain profits and halt its upward trajectory. Several factors can contribute to a steep upward rally in gold prices. These include: Geopolitical Tensions: Conflict, war, or heightened global political instability can push investors towards gold, a traditional safe-haven asset. Any uncertainty can lead to a surge in demand for gold, driving up prices. Inflation: When inflation rises, the value of fiat currencies tends to erode. Investors turn to gold as a hedge against inflation, increasing demand and boosting prices. Interest Rates: Lower interest rates tend to drive gold prices higher, as the opportunity cost of holding non-yielding assets like gold decreases. Central bank decisions to cut rates or maintain loose monetary policies can trigger gold rallies. Currency Fluctuations (USD): Since gold is priced in U.S. dollars, a decline in the dollar's value often results in higher gold prices. A weaker dollar makes gold cheaper for holders of other currencies, increasing demand. Economic Data: Poor economic data, such as weak employment figures, low GDP growth, or decreased consumer confidence, can spur gold buying as investors seek stability. Central Bank Gold Purchases: When central banks increase their gold reserves, it can signal confidence in gold as a store of value, leading to higher prices. Large-scale purchases can directly impact market demand. Stock Market Volatility: When equity markets experience significant downturns or volatility, investors often flock to gold as a defensive asset, leading to price rallies. Financial Crises: During times of global financial instability or banking crises, gold becomes a go-to asset for investors seeking safety, contributing to strong price rallies. Supply Constraints: Limited mining output or disruptions in gold supply (e.g., due to strikes, political issues in mining regions) can contribute to higher prices if demand remains strong. Speculative Demand: Traders and speculators can drive prices higher in anticipation of the above factors, especially in times of uncertainty or market panic.
FX_IDC:XAUUSDShort
by XAUUSDANALYST
Gold breakout came 2773-2784 1st Target support 2715 Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSDLong
by JaiPrakashShuklaHarmonicTrader
Word of Caution for GOLD buying, Retail should wait for retest. Let us break down, factors which are influencing the price movements in upward directions. Geopolitical Factors Middle East Conflict (Israel-Palestine War): Ongoing tensions and conflict in the Middle East have heightened risk sentiment globally. Investors often turn to gold as a safe-haven asset during geopolitical instability, increasing demand and driving up prices. Uncertainty around the potential for broader regional escalations could continue to support gold’s upward momentum. US-China Relations: Trade tensions, technological competition, and military posturing between the US and China remain a persistent concern. Any deterioration in relations may boost demand for gold as a hedge against market volatility. Russia-Ukraine Conflict: Continued uncertainty from the Russia-Ukraine war is sustaining higher demand for safe-haven assets like gold. Sanctions on Russia, especially in the energy sector, also contribute to inflationary pressures globally, indirectly affecting gold prices. US Debt and Fiscal Policy: The US government’s handling of its debt ceiling and budget deficits is closely watched. A looming fiscal crisis could spur fears of inflation or recession, increasing gold’s appeal. Global Inflation Concerns: Rising inflation in major economies due to persistent supply chain disruptions and energy prices (partly due to geopolitical conflicts) pushes investors toward gold as an inflation hedge. Summary Geopolitical tensions (e.g., Middle East conflict, US-China relations) are driving gold’s safe-haven demand. Inflationary pressures due to conflicts and supply chain issues also support higher gold prices. These factors are contributing to volatility and increased interest in gold, with technical analysis helping traders navigate the current uncertainty.
PEPPERSTONE:XAUUSDLong
by XAUUSDANALYST
2
Word of Caution for GOLD buying, Retail should wait for retest. Let us break down, factors which are influencing the price movements in upward directions. Geopolitical Factors Middle East Conflict (Israel-Palestine War): Ongoing tensions and conflict in the Middle East have heightened risk sentiment globally. Investors often turn to gold as a safe-haven asset during geopolitical instability, increasing demand and driving up prices. Uncertainty around the potential for broader regional escalations could continue to support gold’s upward momentum. US-China Relations: Trade tensions, technological competition, and military posturing between the US and China remain a persistent concern. Any deterioration in relations may boost demand for gold as a hedge against market volatility. Russia-Ukraine Conflict: Continued uncertainty from the Russia-Ukraine war is sustaining higher demand for safe-haven assets like gold. Sanctions on Russia, especially in the energy sector, also contribute to inflationary pressures globally, indirectly affecting gold prices. US Debt and Fiscal Policy: The US government’s handling of its debt ceiling and budget deficits is closely watched. A looming fiscal crisis could spur fears of inflation or recession, increasing gold’s appeal. Global Inflation Concerns: Rising inflation in major economies due to persistent supply chain disruptions and energy prices (partly due to geopolitical conflicts) pushes investors toward gold as an inflation hedge. Summary Geopolitical tensions (e.g., Middle East conflict, US-China relations) are driving gold’s safe-haven demand. Inflationary pressures due to conflicts and supply chain issues also support higher gold prices. These factors are contributing to volatility and increased interest in gold, with technical analysis helping traders navigate the current uncertainty.
PEPPERSTONE:XAUUSDLong
by XAUUSDANALYST
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
GOLD - BEAR ATTACK SOON ?GOLD is growing unpredictably towards ATH. The market did not react in any way to last week's US fundamental data and now the price is not reacting to strong levels and liquidity zones. Ahead of ATH after 3 weeks of forming. Investors remain cautious as the US Fed is expected to follow a path of moderate interest rate cuts (skipping a cut in November, or a 0.25% cut). The gold price is actively supported by the tense situation in the Chinese markets and lower US Treasury yields, which helps the gold price to take another leap towards the ATH. Now all eyes will be on Thursday when China holds a press conference and the US retail sales report is released. Resistance Zone : 2680 - 2688 Support Levels : 2664,2658,2645 Technically, I don't think that the market will let the resistance breakout happen the first time. The pullback from 2685, formed 3 weeks ago, was made on the back of strong economic data, so the huge pool of liquidity above 2685 can be defended quite aggressively by the bears. Technically, there are no signs for the continuation of growth. They may appear after the retest, but it will become clear after the fact. P.S. : My short position is open at CMP 2680 with SL 2702.
OANDA:XAUUSDShort
by akshit_official
24
Forecasting 3% to 4% profit taking opportunities in GoldForecasting 3% to 4% Profit-Taking Opportunities in Gold Gold prices reached an all-time high today, driven by increased demand for safe-haven assets amid the approaching, last week’s highly competitive U.S. presidential election. Gold has been steadily reaching new record highs, while other precious metals have also seen gains. However, silver prices have faced resistance near their 52-week peak. In 2024, gold and silver prices have increased by approximately 35% and 52%, respectively. In morning today’s US sessions, December gold futures hit a record high of $2,755.30 per ounce, while spot gold prices climbed to $2,740.60 per ounce. An economic downturn would alter the dynamics affecting the prices of precious metals both silver and gold. Gold was supported by safe-haven demand as the conflict in the Middle East continued. Traders were anticipating Israel's response to Iran following an attack in early October. Additionally, a 25-basis point reduction by the ECB suggested that major global central banks were positioned to implement further rate cuts, creating a lower interest rate environment that is expected to benefit gold and other non-yielding assets.   Overall, gold prices are considered overbought, yet a combination of factors is driving the current rally. Despite the strengthening U.S. dollar, gold prices continue to rise, highlighting the ongoing inverse correlation between the U.S. dollar and gold, which adds downward pressure on gold prices. A stronger U.S. dollar tends to make gold more expensive for investors holding other currencies, as gold is priced in dollars. When the dollar appreciates, it increases the cost of purchasing gold for foreign buyers, thereby reducing the metal's appeal as an investment. This inverse relationship between the dollar and gold often leads to decreased demand for the precious metal in times of dollar strength, as investors seek more affordable alternatives or move to other assets. Consequently, a rising dollar can weigh on gold prices, making it less attractive in global markets. Short-term traders in the gold market are engaging in profit-taking, capitalizing on recent price increases. These traders, who typically seek to benefit from short-term fluctuations, are selling off their positions to lock in gains. This activity can temporarily pressure gold prices, creating volatility in the market, as selling momentum increases. Profit-taking is a common strategy when traders believe the asset may have reached or is approaching a life time high peak, signalling a potential pullback before prices stabilize or resume an upward trend. Key Strategies Traders Should Consider Amid Gold Market Volatility Considering recent market conditions, spot gold (XAUUSD) reached a high of $2,740.60 at morning US sessions, presenting a potential strategic entry opportunity for traders. If profit-taking occurs and prices continue to fall, spot gold (XAUUSD) could test the 5-day moving average at $2,697.82. A break below this level may trigger a move towards the 20-day moving average at $2,660.41, with further declines potentially reaching the October 10 low of $2,604.15. On the other hand, if upward momentum persists, gold could attempt to set a new record high. However, based on my analysis, spot gold prices are expected to experience profit-taking, with a potential decline of around 3.00% to 4.00% from recent record highs in the coming days. MCX December Gold Futures price of ₹78,460 per 10 grams reached an all-time high today, acts as a key entry point. Potential downside targets include ₹77,294 per 10 grams, the low from last Friday. A breach of this level could lead to a test of last Wednesday's low at ₹76,360 per 10 grams, with further declines possibly reaching last Tuesday's low of ₹75,766 per 10 grams. A drop below this level would indicate a significant downtrend, with the next support likely around ₹74,757 per 10 grams, this month's low (October 10 low). Holding Period – Maximum 2/3 weeks. In conclusion, the current dynamics of the gold market suggest that traders should remain vigilant as profit-taking appears imminent, with expectations of a potential decline of 3% to 4% from recent highs. Key technical levels, including the 5-day and 20-day moving averages, will serve as crucial indicators for market direction. Should gold prices breach significant support levels, such as those observed last Thursday and Wednesday, it may trigger further declines, warranting careful consideration of entry and exit strategies. Conversely, if upward momentum resumes, there could be opportunities for new record highs. As always, a thorough analysis of market conditions, combined with a disciplined trading approach, will be essential for navigating the evolving landscape of gold investments.
OANDA:XAUUSDShort
by sebihirengarasondia
2
Gold Trend 21/10Gold prices exceeded our expectations last week. They broke above the previous high of 2685 without any influence from major economic data or news, closing the week at a new high of 2722 before the weekend. Early last week, gold prices continued to carry the upward momentum from the US inflation data from the previous week, jumping to the resistance at 2670. Although it was not a major market focus, weak US manufacturing data on Tuesday led to a technical breakout of the descending resistance line(1), triggering a round of buying that quickly pushed prices to the previous historical high of 2685. After the ECB chopped the 0.5% rate and the release of US retail data on Thursday, the gold price cleared the resistance from the previous high of 2685, where the buying momentum carried on until Friday's market close. As the Asian session opened on Monday, funds continued to flow in, so far no clear signs of a reversal yet. Last week, the gold market shook off the influence of the US rate cut and the recent geopolitical factors, and the overall investment market is gradually being driven by the upcoming US election and its associated uncertainties. With the current market condition, "Trump trade" or not, the gold market, US stocks market, or cryptocurrencies, will be relatively bullish before the election date. 1-hr chart (above) > The upward trend is still accelerating, shifting from last week's trend line (3) to a faster pace at (3.1). With gold prices hitting new highs, there are no previous prices to use as references. In the S-T, watch out for the round number of 2750; and a 1:1 projection from the previous week's high/low range (4), with a target around 2765 (4.1). Daily Chart > Gold prices broke through the key resistance at 2685 last week (5), reigniting the upward trend. The daily chart has not shown any reversal signals yet, so in the S-T, watch for resistance around 2750 near the upper resistance of the uptrend channel(6).
TVC:GOLD
by 1uptick
Gold on Rise Again confirms ORderFlow Delta.Gold prices today, October 21, 2024, have experienced a slight upward movement. Gold is trading around $2,657 per ounce, with a 0.91% rise from the previous trading session. Several factors are influencing gold’s direction today: Global Economic Concerns: Ongoing geopolitical tensions and concerns over global economic growth are leading investors to seek safety in gold. The price is also supported by uncertainties surrounding oil prices and potential disruptions in supply chains. U.S. Dollar Movements: A modest rise in the U.S. dollar index is being counterbalanced by a global demand for safe-haven assets like gold. A stronger dollar typically pressures gold prices, but today's dollar movements seem to have a limited effect. Inflation and Interest Rates: Investors are closely watching signals from the U.S. Federal Reserve regarding future interest rate decisions. Although gold typically suffers when interest rates rise, persistent inflation concerns are keeping the metal appealing as a hedge.
FX_IDC:XAUUSDLong
by XAUUSDANALYST
4
Gold Conquers New HeightsHello everyone! How is the gold price doing at the moment? Let's analyze it with Alisa! Global gold prices continue their impressive upward trend, with spot gold recording a gain of $2.3 compared to last weekend, reaching $2,723 per ounce. Last week witnessed one of the strongest and most sustained price increases for gold this year. Gold is showing an extremely positive technical outlook. With the moving average pointing upward and technical indicators supporting the bullish trend, gold is ready to conquer new heights. The $2,607 support level acts as a solid cushion, allowing gold to easily break through the $2,730 resistance and move toward the $2,800 target. So, what do you all think about today’s gold price? Will the upward momentum continue?
OANDA:XAUUSD
by Alisa_Rokosz