SantaTradeGold

SantaTradeGold Updated 

The recent short-term uptrend is showing signs of reversing when gold prices have dropped more than 4% from the historic peak of 2,450 USD, set just a few trading sessions ago. This adjustment shows that investor psychology is changing, as buyers tend to take profits and look for investment channels with higher profitability. Tonight, 19:30 Vietnam time, the US...

SantaTradeGold Updated 

World gold price (XAU/USD) increased slightly to close at 2,343 USD after the second preliminary estimate of US Q1 GDP growth rate showed stagnation, increasing market expectations for Fed's future rate reduction. Meanwhile, recent negative technical news along with hawkish comments from Fed officials are still weighing on market sentiment. However, many experts...

SantaTradeGold Updated 

Gold prices have broken the support level around $2,335, where the rising trendline intersects the 38.2% Fibonacci retracement level of the March-May rally. Combined with higher-than-average trading volume will be a signal for change. Many traders are selling gold and the bearish trend may continue. In the event that XAU/USD plummets below $2,335, the 50-day SMA...

SantaTradeGold

Although the price of gold is slightly decreasing today, looking at the technical level, the prospect of an increase in price of this precious metal is still very high as XAU/AUD is trading actively above the 100 EMA today. However, the indicator RSI 14 is currently at an intermediate level around the 50 line, showing the possibility that XAU/USD will move...

SantaTradeGold Updated 

World gold price (XAU/USD) yesterday increased more than 25 USD to a high of 2,358 USD. Although expectations about the Fed cutting interest rates recently have many negative changes, gold has a lot of momentum and one of the measurements is that the world geopolitical situation is becoming more complicated with military conflicts. There is increasing tension...

SantaTradeGold Updated 

Gold prices rose during the Asian session on Monday. The metal's rise is supported by a weak USD and rising geopolitical risks in the Middle East. Speeches from Fed officials such as Fed Chair Michelle Bowman, Cleveland Fed President Loretta Mester and Minneapolis Fed President Kashkari on Tuesday will be notable. However, lower bets on a Fed rate cut this year...

SantaTradeGold Updated 

The gold market has had a volatile week, recording record highs before plummeting. On Monday, the price quickly reached a new historic high of 2,450 USD but could only hold there for a short time and then retreated to close at 2,426 USD. On Tuesday morning, gold prices began to decline slightly but still had a retreat and closed at 2,421 USD. This small decrease...

SantaTradeGold

Spot gold prices continued to decline on Thursday, with the lowest trading level at 2,327.28 USD. The precious metal fell sharply for the second straight week, with the USD initially taking advantage of the hawkish FOMC meeting minutes. Documents released on Wednesday showed officials expressed concern about the lack of progress in achieving the 2% inflation...

SantaTradeGold

After only 2 consecutive falling sessions, world gold price (XAU/USD) has dropped more than 100 USD if calculated from the high on May 22. Since the historic peak of 2,450 USD, XAU/USD has dropped more than 120 USD in just 4 sessions. Gold has been at a disadvantage since Wednesday's hawkish FOMC meeting minutes. Just yesterday, preliminary PMI data were released...

SantaTradeGold Updated 

Closing the trading session on May 22, spot gold price decreased 1.8% to more than 2,377 USD/ounce after hitting a historic high of 2,450 USD/ounce on May 20. Calculated from the intraday high of 2,426 USD/ounce, spot gold price has decreased by about 50 USD/ounce. Gold futures contracts also decreased 1.4% to nearly 2,393 USD/ounce. As of the time of writing,...

SantaTradeGold Updated 

Gold prices decreased because US government bond yields increased after the Fed meeting minutes. Gold prices fell sharply when US government bond yields increased and the greenback appreciated. The 10-year US government bond yield increased 2 basis points to 4.43%, while the DXY index increased 0.19% to 104.82, an obstacle for gold. FOMC minutes showed that Fed...

SantaTradeGold Updated 

Since the shock increase and decrease on Monday following the speeches of Fed officials, the gold price (XAU/USD) has had almost no significant fluctuations, fluctuating around 2,420 USD/ounce. Many experts believe that the reason gold does not fluctuate much after officials' hawkish speeches is because the Fed's monetary policy only has a secondary impact on...

SantaTradeGold Updated 

Gold prices have risen to a new all-time high, hitting $2,440 in the morning and $2,450 in the afternoon Vietnam time due to shelter demand as geopolitical tensions increase. According to Reuters, the reason is that Iranian President, Ebrahim Raisi, and other high-ranking Iranian politicians were killed in a helicopter crash in the North of the country over the...

SantaTradeGold Updated 

World gold prices (XAU/USD) soared yesterday, reaching 2,440 USD in the morning session, then had another increase, reaching a new high again at 2,450 USD in the afternoon session and holding near this mark before when it fell sharply after the somewhat hawkish speech of Fed officials in the evening session. Kitco Metals experts said that the news that Iranian...

SantaTradeGold Updated 

World gold prices (XAU/USD) skyrocketed this morning, reaching 2,440 USD/ounce before retreating again at around 08:10 Vietnam time. In the absence of information at the beginning of the week and expectations that were almost completely reflected last week, gold prices seem to be reacting with some new momentum. Kitco News' latest weekly gold survey results show...

SantaTradeGold Updated 

Gold has just set a new all-time high, as investor demand across the entire market skyrocketed due to growing confidence that the US will cut interest rates this year. Gold bullion increased 1.1%, reaching $2,440.59/oz early in the Asian session, surpassing the previous record set in April. This price increase is said to be due to traders becoming increasingly...

SantaTradeGold Updated 

World gold price (XAU/USD) decreased slightly yesterday after increasing to nearly reach 2,400 USD/ounce. According to experts, the reason may be due to profit-taking pressure after the strong increase the previous day. In addition, the recovery of the USD is also detrimental to gold. In the short term, the combination of stable inflation and weakness in other...

SantaTradeGold Updated 

Gold prices are in a slight decline. The reason may be due to profit taking after increasing by more than 1% the previous day. The release of lower-than-expected US CPI and Retail Sales data for April has led to a change in expectations about the Fed's future interest rate path - an important factor contributing to the direction of gold prices....