As 2024 unfolds, gold prices are poised for a significant surge due to the economic and geopolitical forces that underline a strong bullish trend in the market. Despite the challenges posed by a strengthening U.S. dollar and hawkish stances from the Federal Reserve, gold has maintained robust performance. This strength is further supported by a marked increase in...
Technical analysis of gold also shows bullish prospects. Gold prices have charted an ascending widening wedge pattern since 2016, starting from a low of $1124.30. This pattern is often recognized for its expanding trend lines and suggests increasing volatility and bullish sentiment as price makes higher highs and lows. Furthermore, another bullish pattern has...
Cadastral tensions have boosted XAU prices This weekend, the US Consumer Price Index (CPI), Producer Price Index (PPI) and Retail Sales will be released and may give some hints about the economic outlook and inflation trajectory. broadcast. Senior FED officials have given information that cutting interest rates in 2024 is appropriate, citing inflation still rising...
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...
World gold prices tend to increase with spot gold increasing by 3.2 USD compared to last week's closing level to 3,362.9 USD/ounce. Last week, the yellow metal posted modest gains as expectations that the US Federal Reserve (Fed) would loosen policy this year increased following weak economic data. Experts say that next week is an important time to decide whether...
EURNZD is currently in an ABC correction. We've completed wave B and now we're in wave C. The completion of wave B can be used as a strict invalidation level for our short play. We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A. Trade Idea: - Watch for a correction to appear - Enter on break of...
🏃♂️ EURUSD is moving near the 🔴 Resistance zone($1.0806-$1.0781) 🔴. 📈According to Classical Technical Analysis , EURUSD seems to have succeeded in forming an Ascending Broadening Wedge Pattern . 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🔔I expect EURUSD to at least decline to the 🎯Target🎯 I have marked on the...
As at end April 2024, the amount of gold held in London vaults was 8,552 tonnes (a 0.1% decrease on previous month), the lowest holdings since May 2020, valued at $634.3 billion, which equates to approximately 684,132 gold bars. The market last night received information that the number of applications for unemployment support last week in the US increased...
Gold 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...
Water 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...
Finally Price has taken out the low of our momentum candle now our final buy order will be triggered when the 15-minute candle closes above 2314, targeting a minimum of 100 pips with an expected target of 2323-2329. For traders with an aggressive or higher risk appetite, entry can also be considered upon the bullish closure of the current 15-minute candle,...
Spot world gold stands around 2,309.5 World gold prices decreased rapidly in the context of the USD rebounding in the midst of an unstable world The USD has continued to increase in price compared to most other currencies since the beginning of the year, thereby making investors worried. Since the beginning of the year until now, the USD has increased about 4%...
Gold 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...
World 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...
Focusing on our range strategy, we hold short positions here between 2320 and 2320. The first target below is towards 2295, followed by around 2278. The above are public strategy signals, and they are currently making profits. Secondly, there are short orders near 2328, which are only available to VIP customers. They have taken profits and left the market at...
Hello traders, FX:AUDUSD I have determined the formation target on the chart. I wish everyone success. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Thank you for considering my analysis and perspective. Good luck
Gold remains pegged below key resistance patterns, with a bearish flag suggesting lower price potential unless it rises above recent highs. Gold remains stuck in its most reasonable course and is prone to a 5-day turnaround. Consolidation is taking place just below the resistance indicated by the purple 20-day MA, currently at the 2,330 level, and the 38.2%...
World 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...