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XAUUSD - Will gold continue to rise, strategy to buy GoldWorld gold prices increased slightly this morning with spot gold increasing by 2.5 USD to 1,992.1 USD/ounce. Gold futures last traded at 1,993.3 USD/ounce, up 0.5 USD compared to yesterday morning. World gold prices in the evening session of November 23 (Vietnam time) were stable during the Thanksgiving holiday. Analysts do not expect to see many price increases for the rest of the week as most traders are currently focused on this holiday and the "Black Friday" shopping festival. Entering the holiday season, the gold market could not maintain a new increase above 2,000 USD/ounce as the market continued to monitor the minutes of the latest policy meeting from the US Federal Reserve (Fed). Although the central bank left interest rates unchanged in its latest meeting, the minutes showed the committee was maintaining a hawkish stance as it expected to keep interest rates restrained for the foreseeable future. Since late last week, gold has been strongly supported as expectations that the Fed has completed its interest rate hike cycle have been increasing after a series of published reports showing cooling inflation. Wednesday's hawkish Fed minutes and Wednesday's strong labor market data made investors hesitant to predict the Fed's next monetary policy move. Rising expectations that the Fed will keep interest rates “higher for longer” and a decline in the likelihood that it will begin cutting rates in the first half of 2024 have limited gold's gains. Despite this, some experts still maintain optimism that gold prices will eventually move higher as seasonal factors could play a larger role in price action and be positive for gold.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Xauusd:2008 strong resistance Key indicators of changes in market sentiment on Wednesday also included a report of a decline in the number of people applying for unemployment benefits, which hit a five-week low of 209,000 (lower than the expected 225,000), indicating a tightening labor market.In addition, the University of Michigan's inflation expectations report is even worse. The report emphasizes that consumers expect the inflation rate to be about 3.2% in the next five years, and U.S. consumers still believe that the inflation outlook is higher.This forecast is closely watched because it may affect the Fed's interest rate decision and reflects people's continued concerns about inflation if expectations continue to be high.On Thursday and Friday, Thanksgiving Day in the United States, the US market will be closed early Gold reached its highest level in 2006 yesterday, and has not broken through 2008 for 4 consecutive times, so it can be judged that the resistance here in 2008 is very strong. As can be seen from the chart, the volatility range of gold is getting smaller and smaller A series of economic data released yesterday is the Lido dollar index. The US index has risen from 103 to 104.2. It is possible to reach the bottom. As a reverse indicator of gold, it is not conducive to the continued rise of gold. So as long as gold rebounds above 2000, you can still choose to sell. You need to observe the support strength of 1985-1987 and strictly do a good stop loss, so that your success rate will be greatly increased. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
XAUUSD - On Bank Holiday, gold tends sidewaysWorld gold prices this morning decreased slightly with spot gold down 8.1 USD to 1,989.6 USD/ounce. Gold futures last traded at 1,991.8 USD/ounce, down 9.8 USD compared to yesterday morning. The precious metals market in the trading session before the Thanksgiving holiday was under slight selling pressure when the latest report showed a surprise improvement in the US labor market. According to a report by the US Department of Labor, weekly applications for unemployment benefits decreased by 24,000 to 209,000 in the week ending November 18, down from the previous week's upwardly revised estimate of 233,000 applications. The latest labor market data was much better than expected as experts estimated 225,000 applications. After the report, the dollar recovered from its lowest level and Treasury yields pared earlier losses, pushing gold off the key psychological threshold of $2,000 an ounce. The US Dollar Index has risen to a daily high and that is limiting some gold buying demand, said senior analyst Jim Wyckoff at Kitco Metals. However, experts say that gold's decline has been limited by recent expectations that the US Federal Reserve (Fed) has ended its interest rate hike cycle. Lower interest rates typically boost gold prices because they reduce the opportunity cost of holding non-yielding assets. Previously, gold bars reached a 2-week high of 2,007.29 USD/ounce.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1
Xauusd:Will it break through the previous high? Thank you my client for telling me that after I went to check, I found that they had copied my point of view. The Federal Reserve released the minutes of the Federal Open Market Committee (FOMC) monetary policy meeting from October 31 to November 1.Judging from the content, policymakers generally believe that interest rates will remain restrictive for a period of time. They should act cautiously on whether to raise interest rates further, but reserve the possibility of further interest rate increases. On the news side, the Kazakhstan-Israel conflict finally showed signs of cooling after one and a half months.According to the latest report of the Times of Israel, after a six-hour meeting, the Israeli cabinet has approved a temporary ceasefire agreement with the Palestinian Islamic Resistance Movement (Hamas) in the early hours of the 22nd local time.It is reported that the two sides may start exchanging hostages as soon as the 23rd.The cooling of the situation also has a cooling effect on the current risk aversion. Judging from the chart, gold reached its highest near 2007.5 yesterday. As long as you sell above 2005, it will be profitable today. The range is 1980-2010, so today you can still sell above 2005, or buy near 1985, strictly set the stop loss, so that your success rate can be greatly increased If gold breaks through 2010, the next stage may reach around 2020, and all transactions need to be cautious. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSD
by UnknownUnicorn64583787
Xauusd:Will it break through 2000? The annualization of the total number of new housing starts in the United States and the total number of construction permits announced on Friday have shown a strong rebound. We all know the stimulating effect of real estate on economic growth. The continued rise in real estate data will also push up the prices of raw materials, home improvement appliances and other commodities, which will make the US inflation data appear resilient to stop falling. On this point, Chicago Fed Chairman Goolsbee (2023 FOMC Voting Committee) pointed out in his speech: the housing price sub-item in the inflation data is a key indicator. But gold did not break through the key point of 1995 Because it's still an upward trend, you can still wait for key support points to buy Observe the resistance of 1995 If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDLong
by UnknownUnicorn64583787
Xauusd:The forecast is completely correct This week, focus on the release of the latest minutes of the Federal Open Market Committee meeting and existing home sales data for October on Tuesday, and the release of durable goods data for October, the University of Michigan consumer confidence data for November, and the number of people applying for unemployment benefits at the beginning of each week on Wednesday.The market will also be closed on Thursday due to the Thanksgiving holiday in the United States. As the U.S. economy shows signs of inflationary pressure and the labor market cools, the market expects the Fed to stop raising interest rates, causing the dollar to weaken throughout the week and gold to rise.Although the Fed's aggressive interest rate stance has attracted widespread market attention, as global financial markets become more and more worried about the size of U.S. debt, investors should also pay attention to its balance sheet. Today, the lowest gold reached 1973, and the highest reached 1993 last week. From the chart, you can see that gold fluctuates between the trend 1965-1993 So we can choose to trade in this range and strictly set the stop loss, so that your success rate will be greatly increased This is my forecast this morning. Gold stopped falling and rebounded in 1965 according to my forecast. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSD
by UnknownUnicorn64583787
Gold Idea - XAUUSDOANDA:XAUUSD SAXO:XAUUSD Gold vs US Dollar No comment! ⚠️ Disclaimer: The viewpoints shared represent my individual outlook on the market, based on publicly accessible information and historical data. While a portion of these opinions is influenced by my actual trades, others are not. It's important to note that I am not a financial advisor, and I do not assume any responsibility for the decisions you make in your trading activities. ✅ Feel free to share your inquiries or suggestions in the comments. I am more than willing to assess and analyze any cryptocurrency, forex currency pair, or stock index that piques your interest, so, Please don't hesitate to ask or mention the specific currency chart you'd like me to review.
OANDA:XAUUSDShort
by Arash-RK
Xauusd:Will it continue to rise? The number of people continuing to apply for unemployment benefits in the United States reached the highest level since 2022, and the number of people applying for unemployment benefits for the first time rose to 231,000, the highest level in nearly three months.Coupled with recent inflation data, it strengthens the view that the Fed is unlikely to raise interest rates further.These unfavorable U.S. economic data have exacerbated the decline in U.S. Treasury bonds, which are usually regarded as the cost of holding non-yielding metals, causing gold to soar. Yesterday, after breaking through 1975, gold rose rapidly, reaching a peak of 1992 today. Judging from the indicators, the 4H-level RSI has been overbought twice, and 1H has also reached the top of the trend. ut the important resistance above is near 2007 Today is Friday, so you need to trade more cautiously If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
Xauusd:Repeated trend The U.S. PPI in October exceeded expectations and fell to 1.3% year-on-year, down 0.5% sequentially to the largest monthly decline in three and a half years since April 2020.The core PPI grew at zero in October and increased by 2.4% year-on-year to the lowest since the beginning of 2021. The unexpected slowdown made the market further believe that the Fed's interest rate hike cycle has ended, and the bets on interest rate increases in December this year and January next year remain at zero. The New York Fed manufacturing index released at the same time in November turned positive at 9.1, rising to the highest since April.Retail sales fell by 0.1% in October, turning negative for the first time since March, but the decline was smaller than the expected 0.3%.Both of these data are positive for the dollar. The Federal Reserve's next year's voting committee and San Francisco Fed Chairman Daley said that the data show that inflation in the United States has slowed further. The Fed should think carefully and remain patient for a period of time. Intermittent tightening may affect the Fed's credibility.(Implying that interest rates will be raised) Richmond Fed Chairman Balkin, who is also on the voting committee next year, said that the continued strong growth of the US economy may keep interest rates high. Yesterday, gold fell as low as near 1955, basically the same as I expected, but it did not fall below 1950. As can be seen from the chart, the resistance of 1975 is very high, and it directly broke the short-term support of 1960, so if you can't break through 1975 today, it is very likely to fall again. We need to pay attention to the upper resistance point range: 1968-1972 1974-1976 Pay attention to the range of support points below: 1950-1955 1944-1949 So you can still sell in the resistance range, but the US unemployment benefits data will be released today (this data will also affect the trend of gold), you can also wait for the data to be released before selling. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
Xauusd:Will it continue to rise today? The inflation index was released last night. Data from the U.S. Bureau of Labor Statistics showed that the U.S. CPI rose by 3.2% year-on-year in October, slower than September's 3.7% and lower than the expected 3.3%. The QoQ growth rate slowed from 0.4% in September to 0, which was also lower than the expected 0.1%. The Fed is more concerned about core inflation excluding food and energy costs, which slowed slightly to 4% from 4.1% in September. It was also lower than the expected 4.1%, but it was still higher than the Fed's 2% target level, and the QoQ growth rate slowed from 0.3% to 0.2%, which was lower than the expected 0.3%. Obviously, the U.S. CPI in October exceeded expectations and cooled comprehensively, and core inflation fell to its lowest level in two years, consolidating the market's expectation that the Federal Reserve has completed raising interest rates, and betting on the range of interest rate cuts next year has increased expectations. Today, we should also pay attention to the published PPI data and retail sales rate data. From the perspective of market expectations, it is not optimistic, and the overall trend is downward.May cause gold to continue to rise Today's market may be the same as yesterday, but the rapid rise in Asian and European markets is not a good phenomenon. The rapid rise may lead to insufficient gold's rise. Judging from the chart, it is still an upward trend We need to pay attention to the upper resistance point range: 1974-1979 1985-1990 Pay attention to the range of support points below: 1960-1965 1955-1959 If gold reaches the resistance range for the first time before the data, you can choose to sell and strictly set the stop loss. If gold reaches the support range, you can also choose to buy. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDLong
by UnknownUnicorn64583787