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Gold analysis today: 2640 key zoneGold analysis today: 2640 key zone As shown: In the four-hour cycle, the gold trend last week fluctuated upward along the black channel (as shown in the figure). Due to Thanksgiving, the US market was closed on Friday, resulting in no huge fluctuations in the market, and the repair shock within the channel was still maintained. Because of Trump's firm attitude and negative remarks over the weekend, the gold trend fell directly below the black channel on Monday this week (as shown in the figure) 5-minute level: fell to around 2623, rebounded to 2640 to test pressure So today's focus on the price: Is the pressure around 2640 effective? The upper pressure is obvious: 2640 One: Continue to continue the idea of ​​shock: 2620-2640 range Two: Short-selling idea: Take the pressure around 2640 as the pressure range, test and set a stop loss. Expected decline in the day: 2630-2620-2605 Specific strategy: SELL: 2640-2635 SL: 2650-2648 TP1: 2630 TP2: 2620 TP3: 2605 Notes on short selling: Once it returns above 2640, it is likely to continue to run along the black rising channel, with a high of 2680-2700. Be sure to set a stop loss and control your position reasonably. 3: Long ideas: Take the 2600 range as the support range of the large-scale cycle, test and set stop loss, and the expected rise in the day: 2620-2630-2640-2680 Specific strategy: BUY: 2605-2610 SL: 2590-2600 TP1: 2620 TP2: 2630 TP3: 2640-2680 Notes for long: Once it falls below 2600 and returns to the bearish trend, the maximum decline today is likely to be around 2540. So be sure to bring a stop loss and control the rationality of the position The first news this week: Trump hopes that the US dollar will continue to be the world's reserve currency US President-elect: Trump reiterated his threat to impose a "100% tariff". Donald Trump warned that he would ask some countries to promise not to create a new currency to replace the use of the US dollar, and repeatedly threatened to impose a 100% tariff. "The idea that some are trying to get rid of the dollar and we sit back and do nothing is over," Trump said in a post on his "TruthSocial" on Saturday. "We are asking these countries to promise that they will not create a new market currency or support any other currency to replace the strong dollar, otherwise they will face a 100% tariff and should be prepared to say goodbye to selling goods to the wonderful American economy," he added. Trump promised during his campaign that he would make countries pay a high price for abandoning the dollar. He also threatened to use tariffs to ensure they comply. Saturday's threat has taken on new meaning as the president-elect prepares to return to power in January next year. Trump and his economic advisers have been discussing how to punish allies and adversaries who try to conduct bilateral trade in currencies other than the dollar. According to people familiar with the matter, these measures include considering export controls, trade tariffs and other options. Trump has long stressed that he wants the dollar to remain the world's reserve currency. He told CNBC in a March interview that he "will not allow countries to abandon the dollar" because it would "deal a blow to our country." Opposition to the dollar's dominance has intensified in 2022 as the United States led economic sanctions against Russia. "It is impossible for any country to replace the dollar in international trade, and any country that tries to do so should wave goodbye to the United States," Trump said on Saturday. The president-elect has already shocked world markets by threatening to impose 25% tariffs on all products from Mexico and Canada before the start of his second term if those countries do not do more to stop illegal drugs and undocumented immigrants from crossing the U.S. border. Canadian Prime Minister Justin Trudeau met with Trump on Friday to discuss trade and border issues, trying to ease tensions between the two allies after the tariff threat. News interpretation: bearish for gold
FOREXCOM:XAUUSD
by G-Janaya
Gold Trend - Profit taking will dominate before the year's endDespite the initial drop on Monday, the gold price was relatively quiet last week. The price shot up to around 2710 due to all the geopolitical tensions the week before. But then, it quickly retreated after an uneventful weekend. The risk premium dramatically reduced as the Asian market opened on Monday, leading to gold prices falling below 2700 early in the session. During the U.S. trading session on the same day, Trump announced the preliminary tariff policies on China, Canada, and Mexico via social media. The market anticipated a continued high-interest environment in the U.S. until 2025, exerting pressure on gold prices once more, causing them to dip below 2650(1). Gold prices stabilized thereafter, with a holiday atmosphere prevailing, prices rebounded throughout the week, closing near 2650. Gold prices experienced significant fluctuations in the past couple of weeks due to the Russia/Ukraine and Israel/Palestine situations. However, as tensions ease, the upward momentum for price has waned. Heading into the final month of 2024, the gold market continues to be influenced by profit-taking sentiments, as the number of open interests in COMEX gold futures dropped, from 560,000 in early November to 450,000 last Friday. Unless there are significant changes in the fundamentals, gold prices are expected to keep consolidating. This week, the focus will be on Friday's US employment data, with market expectations suggesting a rebound in non-farm payrolls to 200,000. Gold prices are likely to face some pressure before the data is released. 1-hr chart(above) > Early in the Asian session today, the S-T trend turned bearish as the gold prices dipped below the support line(2). Strong selling resistance appeared near 2665 at the end of last week, suggesting initial operations within the 2600-2665(3) range. If this week's US job data performs well in the latter part of the week, the gold price may once again visit below 2600. Daily chart(above) > The overall trend for gold prices continues to adjust towards the 2600 mark, as mentioned last week. The significant selling pressure on Monday (4) is expected to continue influencing the S-T direction. The daily chart range is set between 2605-2665, and if there's a downward breakout later this week, the downside target could be set around the 100-day MA near 2574 (6). If you like our analysis, please give us a thumbs up 🚀! P.To
TVC:GOLD
by 1uptick
Gold --> Interest in this metal is growingGold continues to hold strong as the dollar faces a correction, with liquidity gradually diminishing. Friday’s trading in the US could play a pivotal role in shaping market dynamics. On the H1 timeframe, gold remains firmly within the boundaries of a local bullish channel, driven by the dollar's weakness, which stems largely from the ongoing inflationary environment. Adding to this momentum, the Federal Reserve's dovish stance on interest rate policy continues to act as a tailwind for gold prices. However, this factor appears to be taking a backseat for now. Meanwhile, the market spotlight is shifting toward the policies of the new US administration, which are expected to bring significant changes to the global economic landscape. These shifts could push central banks to bolster their gold reserves, potentially igniting a surge in central bank gold trading activity. With the fundamentals aligning for a bullish trend—supported by an ascending channel and strong macroeconomic factors—buying opportunities dominate the strategy. Ideal entries lie around the support zone (aligned with FVG levels) or upon a confirmed breakout above the resistance level. Price targets? Gold's climb toward 2678 and 2694 is drawing closer, signaling an exciting rally ahead!
OANDA:XAUUSDLong
by Bo-Samson
4
How to Navigate Gold Investments in the Current Context?In recent days, gold prices have seen a significant decline, currently at $2,630/ounce, down to $18. This reflects clear pressure from investors as they see that US inflation is not yet "hot" enough to expect an early interest rate cut from the Fed, although the core personal spending index has increased by 2.8% over the past 12 months. In correlation with strong economic indicators and current geopolitical sentiment, gold may no longer be the safe haven it has always been. Looking at the chart, it is clear that gold prices are struggling to maintain the important support level at $2,640, which was clearly broken in the recent trading session. Technical analysis shows that gold is trading below both the 34 EMA and the 89 EMA, which suggests that the short-term downtrend could continue. However, this also opens the door for a price recovery if there are unexpected positive economic signals. My personal short-term view is that gold prices may continue to be under downward pressure. Stronger-than-expected US economic data and no signs of a change in the Fed's monetary policy are the main factors that are putting pressure. However, in the long term, I remain optimistic about the value of gold as a safe investment, especially in the context of central banks around the world such as Poland and Hungary actively buying gold as a hedge against geopolitical uncertainties.
OANDA:XAUUSD
by Maria_aaa
Gold Trend Forecast for Next Week (December 2 - December 6)🕯 Gold Trend Forecast for Next Week (December 2 - December 6) 🔽Last week, gold fell $115 from its peak due to geopolitical and economic reasons, the PCE index increased and the Dollar Index increased sharply, causing the gold market to be distributed by PTCB. However, the increasing instability in Russia, Ukraine and the continuous violation of the agreement of ISRAEL LEBANON ... still support the Gold Tiger to increase quite positively for next week. Jobs The closing price of the week's gold price is still above 2650, showing a very large increase in the prospect of gold next week! But before increasing again, gold can still retest the 2645 area, even 2633, to gain momentum for the upcoming increase. In particular, next week, there will be a lot of US economic news such as: PMI index for manufacturing and services; employment numbers: ADP, NFP, unemployment rate… Currently, most of the US news is predicted to be better than the previous period! If as expected, this news will have an impact on weakening the USD and be a support for gold! 🥰Trading plan: 🔼 Buy Gold: 2636x – 2634x SL: 2630 Tp: 2644 - 2653 – 2688 – 2720 🔽 Sell Gold: 2686x – 2688x SL: 2691 TP: 2678- 2665 🔽 Sell Gold: 2718x – 2720x SL: 2724 TP: 2705- 2690 🫶Note: Set SL tightly for each order, the financial market is full of risks, if you do not set SL, do not place an order. 🫶Wishing everyone a happy and joyful Sunday 🫶
OANDA:XAUUSDLong
by KevinNguyen-SimpleTrade
1
Weekly Long-Term Gold Trading for 2025–2026Hello everyone. Given the global market's demand for gold, the economic climate of the Middle East War, and Trump's business strategy for the global market, this is gold's long-term chart. For a while, gold was being sold for long-term holding. The global markets' bullish trends reversed a year after Trump's new tax conditions, and the middle east is expected to be unstable in the years to come. However, global markets do not record profits following COVID-19. Bull Run will continue until October or November of 2025. Profit was booked, bearish condition was restored, and then the gold trend reversed. Gratitude
FOREXCOM:XAUUSDLong
by dudivinod
1
Gold Trading Strategy for 02nd December 2024Gold Trading Strategy Buying Strategy: Buy Trigger: Initiate a buy order if the price closes above the high of the candlestick at 2661. This suggests a potential upward momentum. Support Levels: 2632: A minor support level where the price might find temporary support. 2617: A stronger support level, indicating a possible reversal or consolidation zone. 2574: A major support level, suggesting a significant buying interest at this price. Selling Strategy: Sell Trigger: Initiate a sell order if the price closes below the low of the candlestick at 2646. This suggests a potential downward momentum. Resistance Levels: 2682: A minor resistance level where the price might face temporary resistance. 2705: A stronger resistance level, indicating a possible reversal or consolidation zone. 2725: A major resistance level, suggesting significant selling interest at this price. Disclaimer: This analysis is provided for informational purposes only and should not be construed as financial advice. Trading involves risk, and you should perform your own research or consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
OANDA:XAUUSD
by ramkkyy