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XAUUSD : Gold will likely return to its old peakWorld gold price yesterday recorded a high of 2,332.22 USD and closed the session up nearly 1% to 2,323.99 USD. Do you find it strange? This number must have been chosen by the driver. Along with that, the domestic gold price continues to set a new peak. World gold prices have increased more than 12% in 2024 thanks to expectations that major central banks will start reducing interest rates. Coupled with new concerns that the Middle East conflict could flare up again between Israel and Hamas, this could provide a significant boost to gold. However, this factor has been quite lackluster in recent times, instead driven by economic data and gold demand from central banks. Gold prices rose nearly 1% on Monday, supported by an improvement in risk appetite due to rising expectations that the Fed may start easing policy sooner than expected. This follows last Friday's Nonfarm Payrolls (NFP) report, which showed the economy is still creating jobs but at a slower pace. Along with that, economic data from China, a major gold market, still shows positive signals. Indian gold buyers are price sensitive, causing demand to frequently decline when spot gold prices (excluding import taxes) in India increase. However, according to Bank of America, the recent stabilization of gold prices has helped the market regain balance, as shown by the increased difference between domestic gold prices in India and London gold prices. 2024 will see the strongest net gold purchases by central banks ever, contributing to a surge in global bullion demand in the first quarter. According to a World Gold Council (WGC) report published on Tuesday, these institutions added 290 tonnes of gold to their official reserves in the first three months of the year, with China being a net buyer. largest gold, according to Bloomberg. Therefore, the outlook for this precious metal remains positive in the remainder of Q2, especially the motivation coming from net gold purchases from central banks, especially from China, according to Bloomberg.
OANDA:XAUUSDLong
by SantaTradeGold
DXY : Weakening USD creates momentum for goldThe DXY index is currently trading around the 105.00 mark, recording a slight decrease during Monday's trading session. The dollar remains supported by persistent inflation concerns, as Fed Chairman Jerome Powell has warned. However, the weaker-than-expected jobs report released last Friday showed signs that the US economy may be slowing and expectations that the Fed will cut interest rates in September are higher than ever. out, there is a potential risk of pushing the USD even lower. The US economy is currently painting a rather complicated picture. On one hand, consumer demand remains strong and the labor market is stable. However, April employment data showed some signs of weakness, making investors worried about future economic growth. However, Fed Chairman Jorome Powell's caution, highlighting trend instability and uncertain progress in controlling inflation, could help boost the USD if upcoming economic data shows signs of positive.
TVC:DXYShort
by SantaTradeGold
World gold prices increased amid improved market sentimentGold recorded its 2nd consecutive week of decline after a 5-week recuperation streak, however in general, traders are nonetheless constructive approximately the recuperation of gold. (Fed) is definitely expressing its opinion that it's going to not be hard in economic coverage from now till the give up of 2024. Specifically, in a current press conference, Fed Chairman Jerome Powell made it clean that americaA Central Bank There may be no purpose to boom hobby rates. In addition to economic coverage elements, specialists additionally consider that the call for to shop for gold from valuable banks is likewise one of the decisive elements pushing gold fees to a brand new document high. World Gold Council (WGC) international studies director Juan Carlos Artigas stated that gold has tested to be the maximum various economic instrument, that's why valuable banks preserve to maintain gold. Gold forecasts have many elements to boom the charge withinside the close to future. Many essential banks round the arena say that the gold marketplace has nearly removed all stress from the Fed`s economic coverage and count on to peer many new document fees set this year.
TVC:GOLD
by TrategySherpa
It is predicted that XAU will continue to grow in the near futurGold recorded its second consecutive week of decline after a 5-week recovery streak, but in general, investors are still optimistic about the recovery of gold. (Fed) is clearly expressing its opinion that it will no longer be tough in monetary policy from now until the end of 2024. Specifically, in a recent press conference, Fed Chairman Jerome Powell made it clear that the US Central Bank There will be no intention to increase interest rates. In addition to monetary policy factors, experts also believe that the demand to buy gold from central banks is also one of the decisive factors pushing gold prices to a new record high. World Gold Council (WGC) global research director Juan Carlos Artigas said that gold has proven to be the most diverse financial instrument, which is why central banks continue to hold gold. Gold forecasts have many factors to increase the price in the near future. Many major banks around the world say that the gold market has almost eliminated all pressure from the Fed's monetary policy and expect to see many new record prices set this year.
OANDA:XAUUSD
by TrategySherpa
XAUUSD : Gold is likely to continue rising during the weekWorld gold increased slightly after falling for two consecutive weeks World gold prices fell for the second consecutive week with the closing price just slightly above the threshold of 2,300 USD at the end of last week. Set in the context of relatively conservative fluctuations after important news, notably the Fed's monetary policy statement in mid-week and US employment data released on Friday. The decline in gold surprised many traders, as they expected a stronger reaction in the context of a sharp drop in US government bond yields after Fed Chairman Jerome Powell revealed the possibility of monetary easing in the coming months. future, despite concerns about rising inflation. This somewhat "dovish" view has boosted market psychology, directing capital flows to risky assets instead of haven assets like gold.
OANDA:XAUUSDLong
by SantaTradeGold
DXY : USD will decline after many strong fluctuations.The DXY index fell sharply last week, reaching its lowest level since April 10. This sell-off mainly stemmed from a decrease in US government bond yields after the Fed's somewhat "dovish" statement and weaker-than-expected employment data. Accordingly, DXY fell nearly 1%. However, the weekend session saw a rather strong withdrawal, somewhat narrowing the downward momentum. Accordingly, the major currency pairs also have similar fluctuations.
TVC:DXYShort
by SantaTradeGold
Brent stopped out and Drawdown increasingIn this live trading session video,we look at the BRTUSD trade that got recently stopped out for a small loss on the 100k traders challenge account. We also look closely at the drawdown and why this is happening according to the strategy characteristics on both 50% OE and 20% OE strategy. Finally, we explore on what we should do about this by looking at 3 different options. The concepts and ideas in this video can be cross transferred onto any strategy.
ACTIVTRADES:BRENT
by masterthemarkets2010
XAU continues to increase while DXY declines slightlyWorld gold prices increased sharply yesterday after the Fed decided to keep the standard interest rate unchanged at 5.25-5.5%. Traders have recently trimmed bets on when the Fed will ease monetary policy this year as the latest data showed the US economy remains resilient and inflation remains “persistent”. Meanwhile, the weakening dollar and US Treasury yields have prompted some bargain hunting. The dollar fell 0.2% after hitting a near six-month high, making gold cheaper for holders of other currencies, while benchmark US 10-year bond yields also fell.
OANDA:XAUUSDShort
by TrategySherpa
Gold is waiting for further news from the FedWorld gold fees extended sharply the previous day after the Fed determined to hold the usual hobby price unchanged at 5.25-5.5%. Traders have lately trimmed bets on while the Fed will ease financial coverage this yr because the modern day records confirmed the United States financial system stays resilient and inflation stays “persistent”. Meanwhile, the weakening greenback and US Treasury yields have precipitated a few good deal hunting. The greenback fell 0.2% after hitting a close to six-month high, making gold less expensive for holders of different currencies, whilst benchmark US 10-yr bond yields additionally fell.
TVC:GOLDShort
by TrategySherpa
May 3 trading strategyWorld gold prices decreased due to investors' psychology of market exploration, causing demand to become weaker, pulling gold prices back down to around 2,300. World gold has dropped 5% from the record level of 2,431.29 USD/ounce set on April 12 in the context of tensions in the Middle East cooling down and expectations of the US cutting interest rates soon this year are growing. fading. However, according to EverBank's President of World Markets Chris Gaffney, instability in the global economy, geopolitical tensions as well as developments related to this year's elections are still important factors. beneficial for gold prices. Similarly, Abrdn Chief Strategy Officer Robert Minter said that as long as geopolitical tensions continue and economic policies continue to cause instability, gold will continue to serve as a foundation for growth. stable. Robert Minter added that geopolitical instability not only boosts safe-haven demand for gold but also drives investors away from the USD.
OANDA:XAUUSDLong
by TrategySherpa
Pressure from gold if the Fed has not raised interest ratesAccording to analysts, in the short term, the fact that the US Federal Reserve (Fed) has not lowered interest rates will increase the value of the USD, thereby causing gold to more or less suffer certain pressures. However, in the medium and long term, gold is forecast to increase in an environment of high inflation and slow economic growth. Moreover, the United States cannot avoid the scenario of entering a period of loosening monetary policy by lowering interest rates. A weakening USD will push gold prices up. Many forecasts say that gold price will reach 2,500 USD/ounce by the end of the year and will increase sharply in the following years. World gold prices decreased due to investors' psychology of market exploration, causing demand to become weaker, pulling gold prices back down to around 2,300 USD/ounce.
TVC:GOLDShort
by TrategySherpa
XAUUSD : Gold is falling to create upward momentum todayThe greenback continues to weaken but gold is not really benefiting Gold price is currently quite calm around the 2,305 USD mark. Optimistic market sentiment, falling US government bond yields and a weakening USD are the factors that are having the main impact on this precious metal. Investors are continuing to evaluate Chairman Jerome Powell's comments on Wednesday and the Fed's decision to leave interest rates unchanged. Previously, investors predicted the Fed would take a more "hawkish" stance. However, the reality is the opposite and the price of gold has skyrocketed to nearly 2,330 USD. However, gold could not maintain this increase and turned down afterwards and is currently trading around the $2,305 mark, just below the 20 EMA.
OANDA:XAUUSD
by SantaTradeGold
GOLD : Gold's ability to increase is still thereXAU/USD has met the minimum requirement to complete a bearish "Measured Move" pattern after reaching the 0.618 Fibonacci level of wave C at $2,286. This means that gold prices will likely go up in the near future. This pattern is made up of three waves in a zig-zag pattern. The end of wave C, which is also the final wave, can be estimated based on the length of wave A and will usually be equal to the length of wave A or equal to the 0.681 Fibonacci ratio of wave A. If the price penetrates the 0.681 Fibonacci level At 2,285 USD, it is possible that wave C in this model will be equal to wave A and the target will be 2,245 USD or also the Fibonacci 1,000 threshold. In general, the trend of gold prices is still increasing in both the medium and long term. If it successfully breaks through the cluster of SMA lines and the peak of wave B at around 2,350 USD, it could open a new price increase and XAU/USD could completely return to test the high of 2,400 USD. However, the Fed did not forget to send the market a "hawkish" signal on the issue of inflation, specifically: "In recent months, there has been no significant progress towards the 2% inflation target. " This makes some investors concerned about the possibility of the Fed raising interest rates in the future, which could negatively affect gold prices.
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold is back on the rise once againThe current gold price is trading around 2,323 USD/ounce. The golden boy immediately regained the mark of 2,300 USD/ounce after yesterday's sharp decline to 2,285 USD/ounce. The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance. Gold prices rose slightly after the Fed took a less hawkish stance than expected by keeping interest rates unchanged, and Japanese authorities were suspected of intervening to support the Yen, damaging the USD.
OANDA:XAUUSD
by SantaTradeGold
XAU plummeted without stoppingToday, the US economy will release a series of April economic data and non-farm payrolls reports. At the same time, the Fed ended this session. It is likely that the employment report will have a strong impact on financial markets, including gold. Traders have lowered expectations about the timing and extent of US interest rate cuts this year after published reports showed inflation running "hotter" than expected and Fed officials, including including Mr. Powell, continuously made "hawkish" words. Senior analyst Ricardo Evangelista of ActivTrades predicts that Mr. Powell may take a tougher stance. This would push expectations for the first rate cut to the fourth quarter or even next year, a scenario that would bode poorly for gold. Despite the decline in gold prices, ANZ analysts still maintain a positive view on gold and believe that a healthy correction could take gold to $2,500/ounce.
OANDA:XAUUSDLong
by TrategySherpa
XAUUSD : Gold breached the $2,300/ounce mark!Gold prices lost the $2,300 mark last night as data from the US showed that labor costs are rising, thus pushing up inflationary pressure. As a result, the Fed will need to be more patient in lowering interest rates, as Fed Chairman Jerome Powell announced two weeks ago. Gold price is trading at $2,292/ounce, up slightly by 0.27% after falling more than 2% on Tuesday, in the context of rising US government bond yields and a stronger USD. Data from the US Bureau of Labor Statistics (BLS) shows that the Labor Cost Index (ECI) skyrocketed in April. In addition, US consumer confidence also continued to decline, according to the monthly report. 4 by the American Conference Board (CB). It is still too early to conclude that the uptrend has ended. Although a drop below the $2,300 mark could open the door to a deeper correction, at least as long as the price has not completely breached the April 23 low at $2,291. The downtrend will increase if the price loses this mark and will be even more negative if the EMA 50 at $2,240 is breached. Currently, XAU/USD has broken through the EMA 20 and beyond is the rising trendline, which is also the lower boundary of the symmetrical triangle model. Not to mention, the RSI indicator is pointing down and fluctuating below 50. However, investors should not be too pessimistic. In case the price rebounds, the first resistance will be the 20 EMA at $2,215 and beyond that is the April 26 high at $2,252. The buyers will need to overcome these two barriers to consolidate their formation before considering the next increases.
OANDA:XAUUSD
by SantaTradeGold