GOLD heads towards all-time levels with a more positive outlook for OANDA:XAUUSD by Xayah_trading

GOLD heads towards all-time levels with a more positive outlook

XAUUSD has recovered as US Treasury yields plummet amid a trade war, existential and dangerous. The increase in gold purchases by central banks has created more room for gold price increases.
US real yields, which are inversely correlated with gold prices, fell 8 basis points to 2.072%, which is positive for gold. The 10-year US Treasury yield fell 10 basis points to 4.519%.

Bloomberg said gold prices have stabilized near all-time highs after US President Trump ordered back-and-forth tariffs, increasing uncertainty in trade and the global economy.

Trump announced on Thursday local time that the United States will impose "reciprocal tariffs" on all countries exporting goods to the United States to restore a fair competitive environment in global trade, but has not yet given a specific implementation timeline.

This is a new escalation in the trade war after Trump announced an additional 25% tax on all steel and aluminum imported into the US.

The World Gold Council (WGC) revealed that central banks purchased more than 1,000 tons of gold for the third consecutive year in 2024. According to the World Gold Council, the amount of gold purchased by central banks increased by more than 54% year-on-year to 333 tons after Trump won the election.
Central banks, including China's increased gold holdings and expansion of exchange-traded funds backed by the metal, have also supported gold's 12% gain so far this year.

Today's key financial data and events: Friday, February 14, 2025
① 17:00 Eurozone revised annual GDP rate in the fourth quarter
② 17:00 Eurozone seasonally adjusted initial employment rate in the fourth quarter
③ 20:30 Canadian monthly wholesale rate for December
④ 20:30 US monthly retail sales rate
in January
⑤ 21:30 US monthly import price index ratio for January
⑥ 21:15 US monthly industrial output rate for January
⑦ 22:00 US monthly commercial inventory ratio in December
⑧ 01:00 the next day Total number of oil rigs in the United States as of week ending February 14

GOLD rises above $2,900 with further upside targets

Analysis of technical prospects for XAUUSD
Gold continues to rise for the second day after gaining support from the confluence of the upper channel edge and the 0.236% Fibonacci extension, and with its current position it has the conditions to continue rising with a target of all-time highs in the short term, more likely new era highs targeting around 2,952 USD.

The bullish technical structure has not changed, with the short-term trend highlighted by the price channel, while the Relative Strength Index is still pointing up with the green uptrend showing no signs of a possible downside correction.

During the day, as long as gold remains within the price channel, it still has a bullish outlook. Pullbacks do not see the RSI go below 80, and below EMA21 should only be considered a short-term correction and a short-term buying opportunity.

Along with that, notable levels will be listed as follows.
Support: 2,900 – 2,891USD
Resistance: 2,927 – 2,942 – 2,952USD

SELL XAUUSD PRICE 2951 - 2949⚡️
↠↠ Stoploss 2955

→Take Profit 1 2943
↨
→Take Profit 2 2937

BUY XAUUSD PRICE 2892 - 2894⚡️
↠↠ Stoploss 2888

→Take Profit 1 2900
↨
→Take Profit 2 2906

6 days ago

Trade closed: target reached

Plan BUY Hit Full TP2 + 140pips🤕🤕🤕. Congratulations everyone

6 days ago

Note

GOLD MARKET ANALYSIS AND COMMENTARY - [Feb 17 - Feb 21]

6 days ago

Note

Spot gold prices reached $2,900 an ounce, up 0.60% on the day.

5 days ago

Note

After plummeting 1.6% last Friday, gold recovered to $2,900 an ounce on Monday on concerns about trade tensions under President Trump.

5 days ago

Note

Gold recovered positively towards $2,910

4 days ago

Note

Currently, the US Treasury Department's gold is still priced at 42.22 USD/ounce, much lower than the market price. If revalued, the value of gold mortgages could increase from $11 billion to about $750 billion.

4 days ago

Note

Spot gold prices were above $2,940 an ounce, up 0.17% on the day.

3 days ago

Note

🔴Spot gold price is above $2,940 an ounce, up 0.24% on the day.

Xayah_trading

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