👉 World gold price on December 1, as of early morning (Vietnam time), is trading around 2,036 USD/ounce - down 8 USD/ounce compared to trading at the same time yesterday morning.
👉 Today's gold price was adjusted slightly down after this precious metal hit its highest mark in 7 months. The solid recovery of the US Dollar Index also had a negative impact on the metals market.
👉 Analysts said that although inflation has fallen sharply from the 40-year high recorded in June 2022, it is still much higher than the 2% target set by the Fed.
👉 On Tuesday this week, the US Department of Commerce said that core PCE, the Fed's preferred inflation measure, increased 3.5% in the past 12 months through October. Persistent inflation may force the Fed must maintain interest rates within a limited range in the first half of next year.
👉 According to data from the World Gold Council (WGC), central bank gold demand is on track to reach or even surpass last year's record. In early November, WGC said central banks bought more than 800 tons of gold in the first nine months of the year. China, Poland, Singapore and India are the leading countries in gold additions.
👉 Tonight there will be news about IMS and Chairman Powell will speak, the price will fluctuate quite a lot. AEs note the time frame to avoid trading
👉 TECHNICAL COMMENTARY: Gold price in the last 2 days has had selling pressure and gradually adjusted, but not too strongly. The price line is still too high above the EMA 38,89,200, the price is falling to approach the EMA 34, expecting a nice Buy bet in the 2020 area when the price adjusts and touches the EMA 34 there.
📌Trading plan:
🔼 Buy Gold Entry: 2019x -2017x
Sl 2014
TP 2026 - 2033
🔼 Sell Gold Entry: 2042 – 2044x
Sl 2047
TP 2036 - 2028 - 2020
👉 Today's gold price was adjusted slightly down after this precious metal hit its highest mark in 7 months. The solid recovery of the US Dollar Index also had a negative impact on the metals market.
👉 Analysts said that although inflation has fallen sharply from the 40-year high recorded in June 2022, it is still much higher than the 2% target set by the Fed.
👉 On Tuesday this week, the US Department of Commerce said that core PCE, the Fed's preferred inflation measure, increased 3.5% in the past 12 months through October. Persistent inflation may force the Fed must maintain interest rates within a limited range in the first half of next year.
👉 According to data from the World Gold Council (WGC), central bank gold demand is on track to reach or even surpass last year's record. In early November, WGC said central banks bought more than 800 tons of gold in the first nine months of the year. China, Poland, Singapore and India are the leading countries in gold additions.
👉 Tonight there will be news about IMS and Chairman Powell will speak, the price will fluctuate quite a lot. AEs note the time frame to avoid trading
👉 TECHNICAL COMMENTARY: Gold price in the last 2 days has had selling pressure and gradually adjusted, but not too strongly. The price line is still too high above the EMA 38,89,200, the price is falling to approach the EMA 34, expecting a nice Buy bet in the 2020 area when the price adjusts and touches the EMA 34 there.
📌Trading plan:
🔼 Buy Gold Entry: 2019x -2017x
Sl 2014
TP 2026 - 2033
🔼 Sell Gold Entry: 2042 – 2044x
Sl 2047
TP 2036 - 2028 - 2020