Gold Reaches near historical high, lookout for a possible retracement to the downside before possibly reaches new highs again.
In a notable surge, the price of gold witnessed a significant uptick on Tuesday, showcasing stability at a seven-month high of $2,044, marking a 1.5% increase for the day. This positive momentum was spurred by the Federal Reserve's (Fed) mild comments, elevating investor sentiment and propelling asset prices higher. The XAU/USD pair continues to face upward...
The 30m chart has fallen close to the low. Later in the US trading time, I will observe the support near 2012-2007. Regarding the trading direction, my idea is to go long first and then go short. The main reason for going short is that the 2h and 3h charts are still more bearish. If the market changes, we will make adjustments. good luck!
Oscillators on the daily chart indicate impending overbought. It suggests for the Gold price to go downside. If the price will break 1988-1985 region, it could go for a deeper downside to 1953.
Gold prices rose in India on Tuesday, as per data from the Multi Commodity Exchange of India (MCX). The gold price stood at 61,229 Indian Rupees (INR) per 10 grams, up by 54 INR from the 61,175 INR level on Friday. For the futures contract, the gold price increased to 62,052 INR per 10 grams from 61,937 INR per 10 grams. The silver futures contract decreased to...
Gold was bought at 2013-2014 prices. The expected target is 2020-2025 Buy it with me. If you don’t know how to grasp trading signals accurately, you can also leave me a message. Or refer to
Gold (XAU/USD) has broken through the $2,008-$2,010 resistance, reaching $2,018 on Monday, its highest since mid-May. Amid speculation of a Fed pause in tightening and expectations of rate cuts in 2024, the USD hit a three-week low, backing gold's recent uptrend from around $1,950. Global economic concerns favor traditional safe-havens, supporting gold's...
The price of gold (XAU/USD) has surpassed the horizontal resistance level at $2,008-$2,010 and advanced to the $2,018 zone on Monday, marking its highest level since mid-May. The precious metal seems to have entered a phase of consolidating gains, fluctuating just below the mentioned region as it enters the European trading session on Tuesday. Weaker-than-expected...
The top divergence in the 1h chart has been repaired, and the current pattern tends to be a double top. Especially in the 2h chart, the short pattern is still very obvious. If there is no special news to stimulate it, there is a high probability that it will fall. Continue to pay attention to the resistance near 2018-2023, and trade mainly short.
Asian stocks registered gains on Tuesday, while the US dollar hit its lowest level in three months as investors maintain belief in the Federal Reserve's completion of the interest rate hike cycle, focusing on a crucial inflation report later this week. MSCI's broadest index of Asia-Pacific shares outside Japan rose by 0.39%, establishing nearly a 7% increase in...
Gold prices experienced a positive trend in the first half of the day, reaching a peak of $2,016.38 per ounce against a weakening US dollar in the XAU/USD pairing. However, post the Wall Street opening, the precious metal encountered some volatility, settling at $2,010 as the day unfolded. Modest declines in US indicators followed the robust performance of Asian...
Gold Aims for a Breakout! Gold has staged a robust recovery from the 200-day moving average (200dma) earlier this month. The 200dma also aligns with a 38% retracement level of the October range, serving as a key support. Given the shallow retracement and the fact that the gold market is trading reminiscent of 2010 (where price speculators may be eyeing a specific...
In the early Asian trading hours on Tuesday, gold extended its upward momentum, surpassing the crucial $2,000 mark. The yellow metal reached its highest level in six months as the US dollar softened and yields on US treasury bonds remained low. The XAU/USD is currently trading near $2,015, marking a marginal 0.01% decrease for the day. The daily chart for XAU/USD...
Gold prices (XAU/USD) held above $2,000 in the early Asian trading hours on Monday. The yellow metal's rebound is driven by expectations that the United States Federal Reserve (Fed) will refrain from further interest rate hikes. At the time of writing, the gold price is trading near $2,001, down 0.04% for the day. Meanwhile, the U.S. Dollar Index (DXY), a gauge...
Unexpected events caused it to break through the resistance range and complete the conversion from resistance to support. Currently, 2012-2007 is already a support, 30m is beneficial to the bulls, and 1h has formed a top divergence, and there is a need for adjustment. The upper resistance is 2018-2022. The probability of directly breaking through it is low,...
- At the start of Asian trading today, prices corrected sharply as markets expected the Federal Reserve to end its rate hike cycle and the US dollar index continued to fall. In the first half of this year, prices rose until 2018, but then reversed. The reason for this week's reversal in gold prices was the warming of US GDP. The news from the US is not strong...
Global gold prices rose slightly this morning, with spot gold prices up $2.5 to $1,992.1 per ounce. Gold futures traded at 1,993.3 dollars per ounce, up 0.5 dollar from the previous morning. World gold prices were stable on the night of November 23 (Vietnam time) during the Thanksgiving holiday. Analysts do not expect any significant price increases for the...
Gold topped $2,000 an ounce on Friday, with spot gold ending the week up more than $20 on the back of a weaker dollar. Affected by the Thanksgiving holiday, gold was weak on Thursday and Friday, there were no good trading opportunities, and the overall profit this week was relatively small. Next week, I will take my friends to dig hard!