Hey folks, Brian here. Today, XAUUSD is making a comeback on the track with a recovery since its last touch at $2300 USD, now trading around $2350 USD, marking an increase of nearly 500 pips. On the 1D chart, XAUUSD is regaining bullish momentum after touching the EMA 34 line, signaling long-term growth prospects are still intact.
Gold Update: According to the weekly report from the US Department of Labor, the number of initial unemployment claims in the country has risen to its highest level since August last year. In the week ending on May 4th, the number of initial unemployment claims in the US increased by 20,000 compared to the previous week, surpassing expectations, reaching...
Bullish yes... BUT!!! With a warning. If I am looking at this ratio you can bet your Ass the Bankers are also watching this ratio. The Mayer multiple is a friendly tool giving us a potential sell target.
In our video on 6 May we suggested that gold may be charting a bullish falling wedge. The precious metal has now broken out and is moving upwards from that pattern. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets Limited (www.fxcm.com): CFDs...
It could be a HOT summer for the gold and silver bugs And the speculators in the mining sector! WPM ( formerly Silver Wheaton #SLW) Has a broken out of a inverse head and shoulders Two targets provided Also important to note this inv head and shoulders is a continuation pattern not a bottom pattern.
Today, the price of gold is hovering around $2309, showing a downward trend as the US dollar has risen approximately 4% against the basket of six major currencies. Despite the strong global demand for precious metals, particularly in Asian regions such as China, India, and South Korea, the robustness of the USD continues to exert downward pressure on gold...
The Gold price chart on the H1 timeframe shows a precarious situation. Bullish speculators face skepticism after failed attempts to break free from a short-term downtrend. Gold now hovers around the $2300 USD/oz support level. Expectations of a rapid price surge to historical highs above $2400 USD seem distant. Traders await significant catalysts, such as the...
"Gold (XAU/USD) attracted some buyers during Asian trading hours on Wednesday. Safe-haven demand, driven by geopolitical tensions and political uncertainty, as well as central bank buying activity, may contribute to pushing gold prices higher. However, hawkish remarks from Federal Reserve officials could dampen hopes of interest rate cuts in 2024, despite...
Last week, the market had access to a plethora of US economic data, including the FOMC interest rate decisions, non-farm payroll reports, and service sector production data. These reports all indicated that the Fed would maintain the current USD interest rates. The reduced expectations for a rate cut in June meant that gold had to continue its adjustment...
Gold prices (XAU/USD) halted a two-day decline during the European trading session on Monday. Weaker-than-expected US employment reports have raised the likelihood of the Federal Reserve cutting interest rates in September, which weakened the US dollar and boosted the price of gold priced in USD. However, there's concern that easing tensions in the Middle East,...
Gold / XAUUSD has potential for a small bullish pump over the next few days; followed by a bearish correction. We have some Buy Signal Momentum currently going; it hasn't ended yet but this current bar is displaying it; this implies now is still considered to be a good time to buy but may not be tomorrow! The buy rating started at 1☆ and is closing at a 2☆; this...
Hello everyone, it's Brian here. Today, gold prices have stabilized around $2,300. Factors contributing to this stability include positive market sentiment, falling U.S. Treasury yields, and a weaker U.S. dollar. Traders are still digesting remarks from Federal Reserve Chairman Jerome Powell, as well as the central bank's decision to maintain interest rates....
Gold retreated over $100 from its all-time highs established earlier this month. Interestingly, this move down follows a pullback of similar magnitude in the U.S. stock market, which we have repeatedly referred to as a threat to gold’s spectacular performance; one minor detail to point out here is that this time around, gold seems to be falling in reaction to what...
Gold prices (XAU/USD) attracted buyers for the second consecutive day on Friday, trading just below the overnight high during the European trading session. The US GDP report released on Thursday indicated a significant loss of growth momentum at the start of 2024, along with an unexpected rise in inflation, thereby providing some support for the precious metal.
the gold market this year has essentially only seen upside. since all time highs theres been a run on available contracts during a contraction that has ended suddenly. it appears that todays rally has been sustained, and the uptrend in futures has all but resumed according to a credit liquidity crunch and bear dollar environment. according to tv alerts, forex...
Hello everyone, Brian here. Today, gold has remained stable, hovering around the $2320 mark at the start of the Asian trading session, showing little fluctuation from yesterday. Looking at the outlook and trends: Today, we still see a downward trend in gold. In the short term, the strategy of selling continues to be emphasized as this metal forms a triple top...
Today, gold prices are catching their breath in a corrective move, trading around the $2325 mark with a notable recovery of 0.43% for the day. This precious metal's long-term uptrend remains highly esteemed. The recent dip is viewed as a mere corrective wave within the ongoing Elliott wave structure, having reached its first significant Fibonacci extension at...
Hello everyone, it's Brian here. Today, gold experienced a modest decline after failing to sustain its recent rally despite a drop in U.S. Treasury yields and a weaker U.S. dollar. The XAU/USD pair struggled to capitalize following the release of weaker-than-expected global PMI data from S&P, sparking speculation about a potential Fed rate cut come...