Hello everyone, in just 1-2 days 2023 will end, the annual candle will close, last year the candle closed at 1823 USD and reached a peak of 2,146 USD, and at the time I write The candlestick reached the level 2070. Let me know what you think about where gold will close tomorrow, and give your verdict on gold in 2024! Best regards, AdmamTrade
After peaking at $2,080, gold swiftly reversed, dropping to around $2,060, pressured by resurging US Treasury bond yields. Investors are cautious, refraining from major bets on XAU/USD amidst year-end flows. Maintaining a relatively higher level, gold might consolidate into the new year. Closing below the upward trendline at $2,084, potential buyers exercise...
Gold prices dipped below the Thursday trading range of $2,064-$2,088 as thin trading volumes characterized the market with limited participant activity due to the holiday week. The precious metal witnessed some profit-taking on Thursday. On a broader note, the upward-sloping 20-day and 50-day Exponential Moving Averages (EMA) indicate positive momentum, and...
Gold prices are finding demand in the last trading session of the year during the Asian market, amidst cautiously optimistic market sentiment and the recent weakness of the US dollar. Investors are gearing up for the year-end flow and refraining from placing any new directional bets on gold prices, keeping the precious metal in a consolidating phase around...
Gold has now returned to the 2066-2071 range again, with resistance at 2072-2079. The trade is long and then short. There is a high probability that today it will test 2063-2057. If there is news to match, it may drop to a lower position. Once again, I emphasize that during the transaction process, you must first ensure the safety of the account, especially...
⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Thursday saw an increase in Initial Jobless Claims in the United States, reaching 218,000 for the week ending December 23. This exceeded the market's prediction of 210,000. Continuing Claims also rose to 1.875 million, marking the highest level in four weeks. Additionally, November's Pending Home Sales...
From a short-term technical perspective, gold remains in contact with an upward trend amid favorable price indicators. While gold has broken above the resistance level of the upward trend line at $2,080, a daily close beyond this mark is crucial to extend the upward trend to an all-time high of $2,144. Gold buyers face formidable resistance levels at $2,100 and...
From a short-term technical perspective, the price of gold continues to align with an upward trend amidst positive indicators. Gold has successfully breached the resistance level of the upward trend line at $2,080, although a daily close above this level is essential to extend the upward trend to an all-time high of $2,144. Gold buyers will encounter robust...
Gold prices on Comex are nearing a three-week high at $2,089 USD, propelled by a surprising drop in the US core PCE price index to 3.2%. This unexpected shift has increased bets on an early Fed interest rate cut, with over 75% probability priced in by March, according to CME Fedwatch. The decline in inflation provides a favorable starting point for the Fed in...
On the FX market, the USD recovered in the US session after weakening in the first half of the trading day, despite the report that last week's unemployment claims exceeded expectations (218K vs 211K forecast) and sales December pending home sales in the United States disappointed (unchanged compared to forecast +0.8%). At the end of the session, USD increased on...
⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) experienced slight downward pressure on Thursday following its recent three-week high. The valuable metal gave up some of its gains as investors took profits after a significant rally over the past two weeks. This occurred as the cost of holding the non-interest-bearing metal...
Happy New Year, everyone! DXY has signs of rebound in the short term. From a combined perspective, gold trading should still focus on high short positions. First observe the resistance near 2061. If it cannot break through, go short directly. If it breaks through, the upper 2066-2071 is still an opportunity to go short. The support is 2052-2047, followed by...
OANDA:XAUUSD FOREXCOM:XAUUSD Hello dear traders. Gold is expected to rise to around $1,993 by the time the FOMC meeting begins. After that, the xauusd process will go through two scenarios. If the price does not stabilize above 1988 ---> the bearish scenario is more likely If the fork structure breaks and gold consolidates above 1988, gold could...
Following a record close at $2,070, gold is pushing towards $2,100 in the Asian trading session. The dovish Fed stance and strong US bond auctions are impacting Treasury yields and the US dollar. The 14-day RSI provides support, but a recent dip suggests a potential pullback to the 21-day SMA at $2,032, with $2,050 acting as a key level. To sustain the upward...
The 14-day Relative Strength Index (RSI) continues to hold above the midpoint, providing potential support for further price increases. However, the latest downturn in the RSI suggests that the downward momentum in gold prices may extend towards the 21-day Simple Moving Average (SMA) at $2,032. Prior to that, the $2,050 level will pose a challenge to bullish...
From a technical standpoint, a move beyond the $2,047-$2,048 resistance barrier, representing the weekly trading range's highest level, signals bullish momentum for traders. Furthermore, the emergence of a golden cross, with the 50-day Simple Moving Average (SMA) surpassing the 200-day SMA from below, adds support to the outlook for further upward movement. The...
This morning, GOLD saw a slight gap widening, but then quickly moved back up to 2059 territory. This rate could rise again by a factor of 206. The price range is on the strong buy side, so you shouldn't rush to sell right away. As expected, there will be a lot of news this week and the rest of the year. It's very easy to get hit by a sharp decline. If the...
This week's gold forecast I will be looking for shorts to the downside as it has entered my 5hr POI that I have marked out previously. As of now I am expecting price to continue dropping towards the 2035 mark or possibly lower to take the trend line below it. As price has already distributed within my supply I will be looking to sell to target the liquidity...