General trading strategy today, which areas should Sell and Buy?Gold prices in Asia increased in the afternoon trading session on May 14, as the market is awaiting important inflation reports expected to be released this week, for more clues about the speed and scale of interest cuts. interest rate of the US Federal Reserve (Fed) this year.
Spot gold price increased 0.2% to 2,338.78 USD/ounce, while gold futures price increased 0.1% to 2,344.70 USD/ounce.
The US producer price index (PPI) is expected to be announced at 6:30 p.m. Vietnam time, followed by the consumer price index (CPI) on May 15. According to a Reuters poll, CPI figures are forecast to show core inflation rising 0.3% in April from the previous month, down from 0.4% in March, pulling down the inflation rate. annual inflation down to 3.6%.
If gold can hold above the level of 2,320-2,330 USD/ounce, it is a positive sign, meaning gold is gaining momentum in the short term. And with the push from weaker CPI figures (if any), he thinks gold is likely to rise to all-time highs in the short term.
The weak jobs report and lower-than-expected US non-farm payrolls reported in April released last week have increased expectations about the possibility of the Fed cutting interest rates this year. According to a majority of economists polled by Reuters news agency, the Fed is expected to cut interest rates twice this year, starting in September.
Goldsignal
Trading strategy after PPI news, gold increased sharply againWorld gold prices increased with spot gold increasing by 21.9 USD to 2,357.6 USD/ounce. Gold futures last traded at 2,363.6 USD/ounce, up 21.1 USD compared to yesterday morning.
Weakness in the USD and Treasury yields following US producer price data for April provided a boost to the yellow metal. The dollar fell 0.2% after US data made gold cheaper for buyers holding other currencies. Yields on the benchmark 10-year Treasury note also fell, reducing the opportunity cost of holding this non-couponing asset.
The US producer price index (PPI) in April increased by 0.5% over the previous month, a stronger increase than the forecast of 0.3%. Core PPI (excluding volatile food and energy) also rose 0.5% in April versus forecasts of 0.2%. However, March PPI was revised down to -0.1% from a 0.2% increase in the initial report. Although the April PPI report supported those who expected the US Federal Reserve (Fed) to delay interest rate cuts, the sharp downward revision to the March PPI clearly tempered the increase slightly. larger than expected in April PPI.
Gold trading strategy today, identify uptrendWorld gold prices decreased with spot gold down 27.2 USD to 2,335.7 USD/ounce. Gold futures last traded at 2,342.2 USD/ounce, down 32.8 USD compared to yesterday morning.
Short-term futures traders rushed to book profits after recent gains put pressure on the yellow metal in early trading of the week. Meanwhile, the market is still waiting for further data to know more about the interest rate direction of the US Federal Reserve (Fed).
Currently, traders and investors are waiting for important US inflation data for April with the producer price index to be released on May 14 and the consumer price index on May 15. 5. PPI is forecast to increase 0.3% over the previous month, compared to a 0.2% increase in the March report. CPI is forecast to increase 0.4%, unchanged from the March report. CPI Annual growth in April is forecast to increase by 3.6% compared to a 3.8% increase in the March report.
Recently, Fed officials have said that the Fed will loosen monetary policy if there is evidence that inflation declines sustainably. Therefore, this data is very important and is expected to have a great impact on the future direction of gold.
In a recent interview with Kitco News, global investment strategist Tim Hayes of Ned Davis Research expects gold prices to eventually surpass last month's record high above $2,448 an ounce, but the breakout could may not happen until the Fed actually cuts interest rates.
Gold , What do we expect ? SELL or LONG ?Hello Traders, hope you doing great.
for upcoming weeks I think we'll probably see a correction in Gold.
The first target of this correction is 2340 and the second target is 2305.
this post will be updated.
at the end, tell me what do you think about gold ? UP or DOWN ? comment it.
if this post was helpful please like & share with your friends.
THANKS.
Gold confirms uptrend, entry buy todayGold prices fell in today's Asian session, consolidating some recent gains as traders turned more biased towards the dollar ahead of key US inflation data later in the week.
The yellow metal saw some strength last week as some signs that the US economy was cooling sparked speculation of a rate cut by the US Federal Reserve (FED). capacity in 2024.
However, gold remains below record highs hit in April and is expected to trade in a tight range ahead of this week's inflation data.
The broader gold and metals market is ahead of key US inflation indicators this week.
Producer price index data for April will be available on Tuesday, while more closely watched consumer price index data will be available on Wednesday.
Any signs of inflation trouble are likely to further dampen expectations for a U.S. interest rate cut this year, boosting the dollar and pressuring metals prices.
The greenback stabilized after recent fluctuations. Data on Friday showed US consumer confidence weakened significantly in May, but inflation forecasts remained high next year.
Rising precious metals prices were also pressured by this week's inflation figures, as higher interest rates for longer increased the opportunity cost of investing in metals markets.
Will XAUUSD come back or continue to increase strongly?World gold prices last week mainly maintained a recovery trend. At the beginning of the trading week, precious metal prices were listed above 2,300 USD/ounce and spent most of the trading week in the range of 2,310-2,330 USD/ounce.
During the trading session on May 10, the world gold price at one point recovered to 2,375 USD/ounce. However, the upward momentum did not last long, causing the gold price to fall by 15 USD and end the weekend session at 2,360 USD/ounce.
Over the past week, precious metals increased by 2.5% thanks to US employment data supporting dovish views on monetary policy. In addition, military tensions are increasing in both the Middle East and Ukraine; At the same time, data also shows that gold demand from central banks and other needs are all on the rise.
Experts assess that gold is still receiving positive support in the coming time as more and more central banks appear willing to lower interest rates, thanks to the above factors.
Kitco News' latest weekly gold survey finds industry experts are bullish on the precious metal.
🥇Gold🥇is Ready to Fall Again🏃♂️ Gold is moving near the 🔴 Resistance zone($2,338-$2,318) 🔴and Resistance lines .
📈In terms of Classical Technical Analysis , Gold is completing the Falling Wedge pattern .
🔔I expect Gold to continue falling to the Support lines and 🟢 Support zone($2,272-$2,250) 🟢 at least.
Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold turned up again, entry buy todayGold prices today jumped sharply after a number of major central banks decided or signaled their readiness to cut interest rates in the future.
In Sweden, the country's central bank cut interest rates by 0.25 percentage points to 3.75%. The Bank of England (BoE) announced to keep interest rates unchanged at 5.25% and hinted at an upcoming interest rate cut when inflation falls below target.
Gold prices today also have more upward momentum thanks to increased demand for safe haven capital. The cause stems from the deadlock in ceasefire negotiations between Israel and Hamas after Israel continued to attack Rafah, increasing the pressure of geopolitical risks.
With the above picture, investors may expect the gold market to heat up. So they increase their purchasing power. Gold price today increased sharply by 42 USD, from 2,306 USD/ounce to 2,348 USD/ounce at 6:00 a.m. on May 10.
Today's trading trend, waiting to buyWater was at 2,353.1 USD/ounce, an increase of 30.8 USD compared to yesterday morning.
The weakening of the USD has strongly supported the upward trend in the price of the yellow metal on May 9 (US time). Specifically, the US Dollar Index decreased by 0.32% to 105, increasing the appeal of gold to buyers holding other currencies.
FXStreet editor Joaquin Monfort said that gold prices rose higher "after a number of major central banks decided to cut interest rates or signaled a willingness to cut interest rates more in the future." Lower interest rates reduce the "opportunity cost" of holding gold, a non-interest-bearing asset, making it a more attractive investment.
Specifically, in Sweden, for the first time since 2016, Riksbank has cut interest rates by 0.25% to 3.75%. In the UK, the Bank of England (BOE) announced to keep interest rates unchanged as many people predicted, but signaled that it will cut interest rates in the near future.
The Swiss Central Bank, the Reserve Bank of Australia (RBA) and the European Central Bank have also made similar moves.
DeGRAM | GOLD is back in the demand zoneGOLD did not form a new decline and returned to the demand zone.
The descending structure remains undisturbed.
The price formed a bullish takeover before returning to the demand zone.
We expect growth after the retest of the dynamic resistance.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
Trading strategy today, gold cools downGold prices continued to fall in today's trading session, receiving little support from safe-haven demand as recent comments from US Federal Reserve (FED) officials showed the market was skeptical. Doubtful expectations of interest rate cuts.
The yellow metal saw some safe-haven demand this week as the conflict between Israel and Hamas worsened and ceasefire talks made little progress.
However, safe-haven purchases were offset by pressure from renewed concerns about high US interest rates as well as the dollar's recovery.
Prices for the yellow metal received little support from the dollar's recent decline, as the greenback rebounded on Tuesday after some Fed officials said the central bank was more likely to hold steady interest rate in 2024.
This view was voiced by Minneapolis Fed President Neel Kashkari on Tuesday and caused traders to rethink some expectations for interest rate cuts this year.
Expectations for a rate cut in September rose after weak payrolls data last week. But Kashkari and his colleagues say tough inflation remains the main point of contention for the Fed.
The prospect of higher long-term US interest rates is not a good sign for gold because it pushes up the opportunity cost of investing in the yellow metal.
Gold cools down, entry buy nowWorld gold prices stabilized with spot gold down 6.3 USD to 2,307.6 USD/ounce. Gold futures last traded at 2,316.1 USD/ounce, down 6.2 USD compared to yesterday morning.
World yellow metal prices decreased slightly compared to yesterday morning as investors continued to wait for US data to find clues about the possibility of cutting interest rates by the US Federal Reserve (Fed). The recovery of the USD also puts slight pressure on gold. The US Dollar Index rose 0.1%, making gold less attractive to foreign currency holders.
According to analyst Peter Fertig, what the market is currently concerned about is the timing of the Fed's interest rate cut this year. He said that if inflation does not really decrease, the Fed will still keep interest rates unchanged.
In his statement mid-week, Minneapolis Fed President Neel Kashkari gave a "hawkish" view on monetary policy, saying that the US Central Bank may keep interest rates high for a while. longer.
Investors are now looking forward to the results of the University of Michigan's consumer sentiment survey due out on Friday and comments from multiple Fed officials this week. US consumer price index data will be published on May 15 (US time).
GOLD: Gold price forecast
By around September, the Fed may reduce interest rates. A declining USD will pull gold prices up.
Gold is also supported by inflation and escalating prices in many countries around the world. Asian and European countries are struggling to control their currencies from plunging.
Many experts also mentioned the possibility of inflation in some countries. If this happens, gold will continue to be an important storm shelter.
Trading strategy today, wait to buy goldWorld gold prices went down when some US Federal Reserve (FED) officials said that inflation in the US remained high and interest rates could remain the same for a longer period of time.
Responding to this information, the USD-Index increased 0.26% to 105.42 points. Accordingly, the USD increased in value compared to many other foreign currencies. Gold price today is in a disadvantageous position.
Meanwhile, analysts say that US bond interest rates remaining at high levels have become attractive to investors. Since then, many people have limited capital into the gold market. Today's world gold price is forced to weaken.
Gold continues trend down, selling now waiting for entry to buyWorld gold prices turned down with spot gold down 9.1 USD to 2,313.9 USD/ounce. Gold futures last traded at 2,322.4 USD/ounce, down 8.8 USD compared to yesterday morning.
World gold decreased slightly as investors focused more on the prospect of interest rate cuts from the US Federal Reserve (Fed). According to CME's FedWatch tool, futures traders believe there is about a two-in-three chance that the US Central Bank will cut interest rates in September.
Although prices are pressured by the outlook for interest rates, StoneX analyst Rhona O'Connell sees tailwinds for gold, especially regarding geopolitical risks and potential tensions. hidden in the banking system, strong enough to support this precious metal.
In mid-April, world gold prices touched a record high of $2,431.29 an ounce as they were boosted by strong demand from Chinese central banks and retail investors amid tensions. Geopolitics is on the rise.
Recently released data shows that the Central Bank of China recorded the 18th consecutive month of additions despite high gold prices.
Entry to sell Gold today, risk of big decreaseAnalysts said that although gold recorded its second consecutive week of decline after a 5-week recovery streak, in general, investor sentiment still remains optimistic about the precious metal.
According to analysts' opinions, the US Federal Reserve (Fed) is clearly expressing its view that it will no longer be tough in monetary policy from now until the end of 2024. Specifically, in a recent press conference Recently, Fed Chairman Jerome Powell made it clear that the US Central Bank has no intention of raising 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.
There is a risk of decline, entry sell Gold todayWorld gold prices increased with spot gold increasing by 20.3 USD to 2,323 USD/ounce. Gold futures last traded at 2,332.8 USD/ounce, up 24.2 USD compared to yesterday morning.
The gold market entered the new trading week with solid gains, boosted by the weakening of the USD. The US Dollar Index fell to its lowest level in about a month as a recently released report showed that the US job market is weakening, which has increased expectations that the US Federal Reserve (Fed) will interest rate cuts this year.
ActivTrades senior analyst Ricardo Evangelista said that the number of jobs created last month was much less than experts forecast, combined with slowing wage growth, which will cause the Fed to consider easing. monetary policy this year.
According to the FedWatch tool, after the report, the market increased the likelihood that the Fed will conduct the first interest rate cut in September to 71%. Evangelista said that investors will wait for statements from some Fed officials this week to get more clues about the monetary policy trajectory of the US Central Bank. This expert also said that tensions in the Middle East will be a factor supporting gold this week.
Current Gold trading trend,sell first and wait for the buy priceLast week, the world gold price in the first session of the week traded at 2,335 USD/ounce. In the following sessions, gold prices could not maintain the mark above 2,340 USD and began to decline, reaching the lowest level of the week below 2,283 USD.
World gold price increased again above 2,325 USD/ounce after the Federal Reserve (Fed) announced information on the roadmap to adjust interest rates. However, gold prices could not maintain their upward momentum and weakened at the end of the week.
Gold price on Kitco closed the trading week at 2,301 USD/ounce. June gold futures price closed at 2,309.70 USD/ounce, down about 1% compared to last Friday.
Kitco News's latest weekly gold survey shows that experts are less positive about gold's prospects in the short term. Most retail traders believe that gold prices will decrease or move sideways. According to a Wall Street survey, 40% believe that gold prices will continue to move sideways, 33% predict a decrease.
This week, the market is interested in notable economic information such as the US 10-year bond auction, preliminary consumer sentiment report from the University of Michigan,...
Gold is likely to increase again, today's trading trendWorld gold prices tend to increase with spot gold increasing by 1.5 USD compared to last week's closing level to 2,302.7 USD/ounce.
Experts assess that the gold market has just had an interesting week when it received a lot of information that affects the direction of this precious metal. Gold started a series of declines and reached the lowest mark below 2,283 USD/ounce at noon on May 1 (US time) from 2,335 USD/ounce at the beginning of the week. However, this precious metal regained momentum when the US Federal Reserve (Fed) announced to keep interest rates unchanged and increased again above 2,325 USD/ounce. However, this precious metal was unable to maintain its recovery momentum and returned to test the level of 2,290 USD/ounce.
Although gold recorded its second consecutive week of decline after a 5-week recovery streak, experts still maintain optimism for this precious metal. Many opinions say that the US Central Bank has taken a not dovish stance on future monetary policy, but is certainly not "hawkish". At the press conference after the policy meeting in the middle of this week, Fed Chairman Powell made it clear that the Fed has no intention of raising interest rates.
“I think it is unlikely that interest rates will increase. I would say that is unlikely to happen,” Mr. Powell said.
Experts also say that the factors that pushed gold prices to record highs despite the Fed's stance still remain, including demand from central banks.
Gold has dropped dramatically,what is the opportunity to buy nowGold prices fell sharply in today's trading session, slipping from the $2,300/ounce level on concerns about higher, longer-term US interest rates ahead of this week's US Federal Reserve (FED) meeting. .
Weakening safe haven demand is also exerting pressure, especially as recent reports suggest ceasefire talks have resumed between Israel and Hamas. This makes gold even more vulnerable to interest rate risks.
But despite recent declines, gold prices still traded up more than 4% in April, extending the impressive gains seen in March.
The focus is now on the Fed meeting this weekend, where the central bank is expected to keep interest rates steady. But Fed Chairman Jerome Powell is expected to take a more hawkish stance on interest rates, especially after a series of hot inflation indicators.
Signs of persistent inflation suggest traders have largely underestimated expectations for a near-term rate cut by the Fed. The central bank is currently only expected to cut interest rates in September or the fourth quarter, if at all this year.
Higher interest rates for longer periods bode poorly for gold because they increase the opportunity cost of investing in the yellow metal. The strength of the dollar, thanks to the outlook for stable exchange rates, is also putting pressure on broader metals markets.
Other precious metals also decreased in price today, accordingly, platinum futures prices decreased 0.1% to 959.05 USD/ounce, while silver futures prices decreased 1.8% to 27,168 USD. /ounce.
DeGRAM | GOLD rebound in the channelGOLD is moving in a descending channel above dynamic support.
The price has fallen back into the demand zone.
We expect the rebound to continue after overcoming the correction level.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!