Gold prices fell for the second consecutive week with the closing price just slightly above the $2,300 threshold at the end of last week. It is currently trading at 2311 US, marking a 0.4% gain on the day. Accordingly, DXY fell nearly 1%. However, the weekend session saw a rather strong withdrawal, somewhat narrowing the downward momentum. This has pulled the...
Gold prices reversed their gains after initially recovering above a key support level today, with momentum hindered by persistent expectations of higher U.S. interest rates over an extended period. The precious metal briefly returned to the $2,300 per ounce mark in overnight trading following the U.S. Federal Reserve's indication that there would be no immediate...
Hello dear friends, Today, let's explore the gold prices together! Gold has seen a slight recovery after a turbulent Friday, trading steadily around $2310 and rising 0.34% during the day. In terms of short-term prospects, gold seems to be moving sideways and remains in an accumulation phase with expected fluctuations between $2325 and $2290. Pay attention to...
Hello everyone, let's explore today's gold price situation! Yesterday, gold experienced significant fluctuations in response to two major news events: the Non-Farm Payrolls report and the unemployment rate. Following these updates, gold prices initially surged to $2320 USD, then dropped to $2277 USD, before finally stabilizing around the $2300 USD mark. However,...
Hello wonderful friends, What are your thoughts on today's gold prices? After a significant drop to below $2,282 yesterday, gold has made a slight recovery today, moving back above the $2,310 mark. This rebound is driven by a sell-off in the US Dollar and US Treasury yields following dovish comments from Fed Chair Powell regarding the future of interest rates....
Hey Everyone, A piptastic day on the charts today kicking off the new month with blues. Yesterday we got the lock below 2327 opening the retracement range, which was hit perfectly and gave the 30 to 50 pip bounce inline with our plans to buy dips also covering any premature entries. We then stated that we will now wait for this area to support and head for the...
Introduction - This is the 3rd daily continuous gold forecast since the PRELIMINARY DRAFT and the first one posted for public audience on TradingView. This post will stay live for about 14 hours and cover MOST of the NFP reaction before I wrap it up and continue in the matching private post. Details - First, I went silent the last 24 hours because I unknowingly...
Gold prices today (May 3), the international market turned down sharply after the US announced more information about the number of first-time unemployment benefit applications being quite positive. The OECD has raised its forecast for the global economy to grow by 3.1% this year, so investors have strongly sold gold. Yesterday, the US economy released more...
The Federal Reserve is expected to announce its monetary policy decision from the April 30-May 1 meeting. It is anticipated that borrowing costs will remain unchanged at 5.25% to 5.50% and forward guidance will stay the same. The focus will be on Fed Chair Powell's press conference for insights into the policy outlook, as there are no new economic projections at...
Considering the status of gold, which was moving in a long-term uptrend line and now that trend line has been broken, we should expect a significant price decrease from it.
Hey Everyone, Great start to the week with our 1H chart idea playing out, as analysed. We started with our 2305 Bullish target hit followed with ema5 lock above 2305 opening 2321. This was then hit perfectly completing this target with plenty of time to get in for the action. We now have ema5 lock above 2321 opening the next range upto 2346. Its over 200 pip...
Hello all dear traders! Let's discuss and strategize our new day! The end of the week above the 2,300 USD mark shows significant achievements and a positive short-term outlook for this metal. However, gold's decline is expected to deepen if purchasing power in Asia decreases. Talking about the medium term, I still maintain strong belief that the technical...
Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2305 resistance and 2285 support. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2305 to further open the range above or a rejection will follow to...
Hello everyone, Today, gold prices continue their recovery momentum since Monday, with the metal gaining over $25 since the start of the new week. Although gold has experienced two consecutive weeks of decline following a five-week recovery streak, overall investor sentiment remains optimistic towards this precious metal. From chart analysis, we observe that...
Gold prices reversed after yesterday's plunge immediately after the US Federal Reserve (Fed) decided to keep the standard interest rate unchanged at 5.25% to 5.5%. Both Fed Chairman Jerome Powell and state Fed officials in the US have expressed reluctance to start cutting interest rates until they are more confident that inflation is on track toward goal 2....
World gold prices fell for the second consecutive week with the closing price just slightly above the threshold of 2,300 USD at the end of last week. Set in the context of relatively conservative fluctuations after important news, notably the Fed's monetary policy statement in mid-week and US employment data released on Friday. Last week was fundamentally rich,...
Analysis: Factors Driving Gold Prices Up Here is why we think it will go up (FUNDAMENTAL ANALYSIS) Weak NFP Report and Potential Fed Rate Cuts: The recent Non-Farm Payrolls (NFP) report came in weaker than expected, signaling sluggish job growth in the United States. This unexpected weakness has raised speculation that the Federal Reserve may consider...
Market news and reviews After the Federal Reserve kept interest rates unchanged for the sixth time and announced it would slow down the pace of balance sheet shrinkage, gold prices rose sharply above the $2,300/ounce mark and held above this important price level, At the same time, it also achieved the target adjusted increase in publishing the previous issue sent...