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XAUUSD - After the PPI news, will gold fall?Continuing to accelerate from the previous session, the DXY index (the movement of the greenback compared to the balance of 6 major currencies) decreased sharply from 104.8 points to 104.1 points in the first trading session on the market. The USD fell after US inflation was unexpectedly lower than forecast, reinforcing confidence that the US Federal Reserve (Fed) will not raise interest rates. Specifically, US generation in October did not change compared to the previous month. The consumer price index (CPI) increased by 3.2% compared to 2022 and remained unchanged compared to September. Previously, economists consulting the Dow Jones survey predicted that this month's CPI would increase by 0.1 % compared to September. This information gives hope that prices are easing pressure on the US economy. Investors believe interest rates have gained value. Life on US Treasury bonds has also fallen sharply. Yields on 10-year notes fell to just over 4.4%, thus rebounding above 5% at the end of October. Gold prices increased while countries still strongly imported gold and increased their reserves of this precious metal.
OANDA:XAUUSDShort
by FalCol_TradingMaster
XAUUSD - PPI today news trading strategyYesterday, the market received information about US inflation data, which more or less affected gold prices. Specifically, the US consumer price index remained unchanged in October and core inflation showed signs of slowing down. CPI increased by 3.2% compared to the same period last year. This level in September was 3.7%. Accordingly, after the inflation report was published, the market predicted a 100% possibility that the US Central Bank would keep interest rates unchanged in December compared to 86% before the inflation report. Weaker-than-expected US consumer inflation data caused the USD and Treasury bond yields to fall, thereby helping gold prices recover. Experts say that CPI data was significantly weaker than expected, which is quite supportive for precious metals. But at the same time, he believes that gold may drop another 4% back to 1,900 USD/ounce in the near future when it no longer benefits from the safe haven channel, due to concerns related to the Israel-Hamas conflict. This expert predicts that the average price in 2024 will be 1,883 USD/ounce and increase to an average of 1,918 USD/ounce in 2025.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Xauusd:Will the decline stop today? Gold fell rapidly at the opening of the market today, and some brokers fell as low as 1918. This week, we need to pay attention to the release of major U.S. data, including the October consumer price index (CPI) released on Tuesday, which will further affect the market's expectations of the Fed's movements after 2023. By Wednesday, the market will turn its attention to the latest U.S. retail sales report, producer price index (PPI) and initial jobless claims, and other data releases to measure the health of the U.S. economy.A series of key US economic data and speeches by many Fed officials may inject greater volatility into the dollar.If the overall U.S. economic data paints a bright picture and the Fed spokesperson strikes a hawkish tone, this may maintain hopes of raising interest rates and thus boost the dollar.If the US economic data is disappointing, causing Fed officials to adopt a dovish stance, and betting on the Fed's suspension of interest rate increases increases, this will have a great impact on the trend of gold. The area of gold 1930 is the 38.2% pullback level since the previous rise in 1810, while 1920 is the previous intensive area, which is the technical support level, so it is not surprising to stop the decline here today, and it is also very reasonable. From the chart, you can see that gold has been in the range of 1933-1942 today If gold does not fall below 1930-1933, it can be judged that gold has stopped falling for a short time, and observe the important boundary range of 1942-1945. We need to pay attention to the upper resistance point range: 1952-1955 1942-1945 Pay attention to the range of support points below: 1930-1933 1923-1925 So you can choose to buy in the support range, observe whether you can break through the resistance range, strictly set the stop loss, and wait for the trend to become obvious. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDLong
by UnknownUnicorn64583787
Gold price today: Create a new peak in 2005 USDHello, amazing friends of Karina! Recently, gold has been facing difficulties in maintaining the peak of $2000. The upward momentum of gold has been hindered by various factors, including the loose monetary policies implemented by many countries around the world. On the 1D chart, although the bullish trend is still supported and the parallel price channel has been broken, there are signs of a potential top forming at 2005. The current support level is around $1975. If this level is surpassed, it could cause gold to decline further, potentially reaching $1945, which coincides with a test of the gold's EMA.
OANDA:XAUUSD
by Karina_Bella
38
Continuing the downward price channel, how far will Gold fall?World gold prices this morning tended to increase with spot gold increasing by 1.2 USD compared to last week's closing level to 1,939 USD/ounce. Last week, the gold market witnessed its second consecutive week of decline due to weak safe-haven demand while US Federal Reserve Chairman Jerome Powell took a hawkish stance on monetary policy. According to City Index market analyst Fawad Razaqzada, Mr. Powell's hawkish stance was the main reason why gold prices weakened last week. In addition, investors' risk appetite has improved in the past few weeks as the Israel-Hamas conflict has not made much progress, also reducing demand in the gold market. Gold bars have lost about 70 USD since reaching over 2,000 USD/ounce thanks to safe-haven demand due to escalating tensions in the Middle East. Fed officials, including Mr. Powell, say they are still unsure whether interest rates will be high enough to end the war on inflation, pushing up 10-year Treasury yields and the U.S. index. The Dollar Index rose, thereby making non-interest-bearing gold less attractive to investors.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GOLD continues to PLUMMET - SELLS ACTIVEHey guys what's up Brandon here, Ekatatrading. Today I wish to discuss my sell on GOLD. I sold because 1. Gold is a bearish market and my LAW says to never go against the momentum unless a reversal is clear Reversal wasn't clear, momentum was bearish so sells it was. That being said around the time of me observing the GOLD market it was approaching the previous low, making me question if it was even a reversal off the previous low to begin with. Unlikely. Once I figured that it wasn't likely to reverse I began looking for sells as per my law and low and behold sell is exactly what it did - Thank God as I had lost a trade earlier this week (See Linked Idea). This trade made back pretty much everything I had lost and then some for me which is how I believe you should trade to begin with. My reasons were simple...If the market wanted to buy it had to take out the stop below the macro zone - which means it has to sell in any event right? So long as the market didn't harshly reject that low or maybe even accumulated around that low I'd feel safe to consider sells. Reason being - Why would the dealer stay at a low point for so long only to actually buy the market? Wouldn't he be giving the buyers a ridiculously good opportunity to buy? In my opinion that doesn't make sense from the dealer's perspective and further helped me to better understand what might be going on. Once I found my entry it was just about figuring out where to put my stop loss. I put my stop loss in an area where I think it is so unlikely to be hit because..as much as using a tighter stop is very attractive for your risk reward - it means nothing if you cannot stay in the trade to see that reward in the first place. As I am typing this I am still in the trade - I am about to have lunch and then pretty much relax for the rest of the day as I've cleared my day to get some rest so I can heal. I hope you understood what I was trying to say and it made some sense to you. Have a great rest of your day and an even better weekend - See you guys next week =)
OANDA:XAUUSDShort
by Brandon_evo4
Xauusd:Will it rebound again? Yesterday, Federal Reserve Chairman Powell spoke publicly again, saying that Fed officials are not sure that interest rates are high enough to end the inflation war, and that the help they can get in expecting improved supplies of goods, services, and labor to reduce price pressures may be nearing the end. After Powell's speech, traders postponed their bets on the timing of the Fed's first interest rate cut from May to June next year.This has also boosted the trend of the US dollar and US bonds Hawkish voices continue to appear within the Fed. Richmond Fed Chairman Balkin said that although “real progress” has been made on inflation, it is not yet clear whether the Fed needs to continue to raise policy interest rates to complete its work. He is not as optimistic about the rate of inflation decline as some others. O'neal Pace, acting president of the St. Louis Fed, said he did not want to rule out the possibility of further interest rate increases if necessary. (These all suggest the possibility of continued interest rate increases in the future) Yesterday, gold was the same as I predicted. The data on unemployment benefits did not make gold fall below 1944, so it began to rebound, reaching a peak of 1965. On the 1H chart, the downtrend line has been broken. Pay attention to the support situation after today's decline. If it does not fall below 1950, you can continue to watch the rebound continue. We need to pay attention to the upper resistance point range: 1968-1972 1975-1980 Pay attention to the range of support points below: 1950-1953 1941-1945 1933-1938 So you can choose to buy around 1945-1952, observe the strength of the rebound, strictly set the stop loss, and gradually buy according to the funds, 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:XAUUSDLong
by UnknownUnicorn64583787
Xauusd:It's the key choice point again Due to the recent hawkish rhetoric of Fed policymakers, everyone hopes that the Fed can achieve its goal of suppressing inflation, so gold prices fell again on Wednesday. Pay attention to the data on U.S. unemployment benefits today Today, gold fell as low as 1945, and the position of 38.2% of the Fibonacci retracement in the upward period from 1810 to 2007 was near 1933. If it did not fall below this data, gold would not be considered a real complete decline. The current trend belongs to a small cyclical decline in a large cyclical pullback. You may have discovered that if you have to wait for a rebound to sell, but gold can't reach the resistance range. Today's entire golden state just happens to be bullish and dare not enter, bearish and dare not chase, coupled with the 4-hour divergence of the indicators RSI and MACD, I still think it is possible to rebound today and then fall. The suppression point of the decline and rebound is near the mid-Bollinger band of the daily cycle 1970 We need to pay attention to the upper resistance point range: 1962-1970 1953-1958 Pay attention to the range of support points below: 1941-1945 1933-1938 When gold reaches the support range for the first time today, you can buy in small batches based on your own funds, set a stop loss, and increase your success rate of profit. In a downtrend, you can sell when you reach the resistance range If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
Continuing the downward trend, can gold create a new bottom?World gold prices this morning reversed to increase slightly with spot gold increasing by 8.4 USD to 1,958.2 USD/ounce. Gold futures last traded at 1,963.5 USD/ounce, up 5.7 USD compared to yesterday morning. The slight weakening of the USD in the evening trading session of November 9 (Vietnam time) slightly increased the appeal of gold to buyers holding other currencies. Currently, the market is waiting for the speech of the Chairman of the US Federal Reserve (Fed) for more clues regarding the Fed's future monetary policy roadmap. Along with interest rates, gold's safe-haven demand from geopolitical tensions is also gradually drying up, making it difficult for gold to have a sustainable increase over the past week. Looking at the long term, in a recent study by Capital Economics, experts said that, although geopolitical instability due to the conflict in the Middle East has created some positive fluctuations for the gold market, but prices will eventually move higher as the Fed begins cutting interest rates in 2024. Gold could end the year at $2,100 an ounce.
OANDA:XAUUSDShort
by FalCol_TradingMaster
XAUUSD - Gold IdeaOANDA:XAUUSD TVC:GOLD ⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices. ✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
OANDA:XAUUSDShort
by Arash-RK
Xauusd:The U.S. may raise interest rates again Kashkari, chairman of the famous hawkish Minneapolis Fed: If necessary, the Fed will take more measures on interest rates. The FOMC did not discuss the content of interest rate cuts. Dovish representative Chicago Fed Chairman Goolsbee: If long-term Treasury yields remain at a high level, it is likely to be equivalent to tightening policy. The first task to change the interest rate stance is the progress of inflation. The two relatively neutral ones are also very tough. Fed Governor Bowman: Further interest rate increases are still expected.Dallas Fed Chairman Logan: Inflation is still too high, and the data seems to be moving in the direction of 3% instead of 2%. Judging from the voices within the Fed, it does not support the current view that the market expects to cut interest rates soon. Once this deviation is repaired, asset prices will also face significant fluctuations. Today we want to focus on the speech of Fed Chairman Powell. If he sticks to his speech on the interest rate resolution last week, it will be another blow to the market. Gold fell unilaterally yesterday, and the Asian and European markets once fell to 1957. After that, with the opening of the US market, the market flipped, and the closing basically held the position of 1970. Judging from the daily line, yesterday's decline was not large, and in the end it did not fall below the important boundary point of 1953. We need to pay attention to the upper resistance point range: 1981-1986 1972-1978 Pay attention to the range of support points below: 1960-1965 1953-1957 n trading, it is recommended that everyone pay attention to the opportunity to sell after the rebound, such as the resistance area above, which would be a good choice.
FX:XAUUSDShort
by UnknownUnicorn64583787