Gold price approaches $2,300 price expectation

Nova-Scalper Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
⭐️Smart investment, Strong finance

The price of gold (XAU/USD) has surged to record highs of nearly $2,250 per troy ounce in the early Asian session on Monday. This increase is driven by several factors, including the anticipation of a shift in monetary policy by the Federal Reserve (Fed) in the second half of 2024, ongoing geopolitical tensions in the Middle East, and hopes for China's economic recovery.

The possibility of central banks implementing looser monetary policies could further drive up the price of gold. Currently, financial markets have factored in a 68.5% chance of a quarter-point interest rate cut by the US Fed before June, according to the CME Fedwatch Tool. Fed Chairman Jerome Powell affirmed on Friday that the recent inflation data in the US aligns with their expectations, maintaining their stance on potential interest rate cuts this year. It is important to note that lower interest rates could make gold a more attractive investment since it doesn't generate interest.

⭐️Personal comments NOVA:
The FOMO from the market is huge, the new peak of Gold is gradually reaching $2300 according to experts.


🔥BUY GOLD zone: $2236 - $2234 SL $2230
TP1: $2242
TP2: $2255
TP3: $2267

🔥SELL GOLD zone: $2265 - $2267 SL $2272
TP1: $2260
TP2: $2250
TP3: $2236

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
+ 65 pips , signal plan day 2265-2267
Gold price continues to peak, fomo increases sharply
+ 150 pips , signal PLAN day 2265-2267
+ 200 pips , signal plan day SELL 2265-2267
+ 260 pips , signal plan day SELL 2265-2267
+ 30 pips, signal BUY 2234-2236 , plan day
Gold prices show that the expectation of 2300 is very high, this year will see a new milestone from Gold
Gold prices still show very good upward momentum

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