Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
Good morning guys!
No change from our point of view, at the moment, and our corrective structure is still working properly, that being said, we are close to our TARGET 1 but the real driver for next week will be today's daily closure.
NOTE: To study our used strategy, click on the chart...
China does not "play games". Trump has now entered an entire new leg of this Trade war.
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Yesterday I was one of the very few people on TradingView to put out there the likely presence of a 1504 consolidation Pre-Fed, with a breakout to 1524 at-least. Today we consolidated at 1504 Pre-Fed with a finish near 1528. I suspected we would face an increasing...
Even Though we totally understand the underlying risk in our current short position in gold however there is still significant potential for markets to be disappointed come September and for gold to fall.Analyzing all the risk involved in the trade,we have finally decided to excute the following trade keeping the long term macro...
Long time no see!
So this looks slightly different than on my MT4, but idea is clear. I have a buy limit at that bottom blue line with TP all the way up to horizontal pink line. On my pont of view that green circle is a fake break out, following the news that day, (Don't remember which exactly.)
Hope this is helpful, good luck!
Market tanked this AM, but what was significant was gold's triangle breakout after many days. This indicates to me the market will fall for a while (not just bounce down and up). Target is 1585, possible fomo to 1600.
Silver and miners should have nice gains as well
good luck!
Gold prices surged on Friday, held near the key $1,508 level amid trade uncertainties and ahead of U.S. Fed chair’s speech for clues on future rate cuts.
Recent trade negotiations caused a spike in the XAUUSD.
Could see it break the high of 1536, if so can see a decent run
Low support and unlikely with current trading circumstances for it to be reached.
Long trade with trade wars heating up causing pressure on the commodity to rise in price.
Will probably see a reach of 1580 in the coming two weeks if such...
LOOKING FOR A NICE LONG TRADE OVER GOLD AFTER THE REJECTION OF THE NEWLY TESTED DEMAND ZONE TESTED THRICE, ENTERING A BIT EARLY TO GET THE BEST RISK/REWARD.
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Risk reaction will continue till 1615 (some fib. retracement),
then with the FOMO effect loads will buy gold, and big institutional traders will then short the gold to squeeze profit out of them. First to 1400 with fluctuations there, then down to 1200.
Then they will cancel most other traders with the trick move, and the real gold price ascent will happen from...
With an update to a post i made a week ago, i believed that on the monthly gold(XAUUSD) would fall on that trendline and have another leg up.
This is especially playing out significantly well.
The fed will probably hint at a dovish USD meaning that gold would probably rise further.
Ill keep on holding to this trade.
Key notes: Banks are also long on gold
Triangle Pattern is visible in the chart /Fibonacci retracement shows where the resistance is.
I think it's about to break out but it's not strong enough to break the Fibonacci resistance.
Xau is forming a symmetrical triangle atm, waiting for a breakout from either direction. Pointed more towards upwards movement now.
Bullish divergence on the 4 hour. Usually leads to big jumps in XAU's price.
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![XAUUSD: [GOLD] UPDATES SETUP](https://s3.tradingview.com/9/9RF49rgC_mid.png "[GOLD] UPDATES SETUP")
