Gold analysis 20/05/24
Updated
In terms of geopolitical events, like the helicopter crash involving the Iranian president, such incidents can create uncertainty in global markets. If the president died accidentally, the market reaction might be moderate, reflecting general instability concerns. However, if it were discovered he was killed intentionally, this could escalate tensions significantly, potentially causing a sharp rise in gold prices as investors seek a safe haven.
Regarding interest rates, their impact on gold prices is significant. If interest rates are cut, it usually makes gold more attractive because lower rates reduce the opportunity cost of holding non-yielding assets like gold. Conversely, raising rates can decrease gold's appeal. If rates are kept the same, gold's movement will likely hinge more on other factors like geopolitical events and overall market sentiment.
For this week, if geopolitical tensions in Iran remain high and there's speculation around interest rate cuts, we might see gold prices continue to rise. However, if these tensions ease and interest rates are expected to remain stable or increase, gold prices might stabilize or even decrease slightly
In Summary i think Monday - Tuesday gonna be the bottom wick of the new weekly candle
its gonna be complex correction for gold , i suggest to not trade and search for long position
at 2396-2392 Soo right now im short for the shortterm thats my analysis , Stay safe guys dont overrisk and good luck i will update for anything new
Regarding interest rates, their impact on gold prices is significant. If interest rates are cut, it usually makes gold more attractive because lower rates reduce the opportunity cost of holding non-yielding assets like gold. Conversely, raising rates can decrease gold's appeal. If rates are kept the same, gold's movement will likely hinge more on other factors like geopolitical events and overall market sentiment.
For this week, if geopolitical tensions in Iran remain high and there's speculation around interest rate cuts, we might see gold prices continue to rise. However, if these tensions ease and interest rates are expected to remain stable or increase, gold prices might stabilize or even decrease slightly
In Summary i think Monday - Tuesday gonna be the bottom wick of the new weekly candle
its gonna be complex correction for gold , i suggest to not trade and search for long position
at 2396-2392 Soo right now im short for the shortterm thats my analysis , Stay safe guys dont overrisk and good luck i will update for anything new
Trade active
Took Short Position right at Red line Fibbonacci 261.8% ( 2440.317 ) Gl guysTrade active
Secured 50 pips But closed 50% and BE hits im out of trading today geopolitical news , President might be dead with the crewNote
No one Survived from Helicopter Crash of the iranian president , Gold is droping but guys becareful this aint smelling goodNote
Weekly Timeframe looks we're heading to 2456.357-2470.400 , Gold with Geopolitical tensions & Probability of cutting interest rate , makes it super strongNote
Well guys too many reasons why gold is pushing , Geopolitical tensions in Middle east and now Iranian president died , especially after a fight happend between Israel & iran last geopolitical conflict if you remember , Soo if the things in my mind are true which is President got killed by Mosad then GOLD wont stop for pushing in the long term , We have in the other side the Fed reserve Rate cuts possibly next meeting or could be in next month ( June ) soo in all the cases gold is pushin we just want a good position for buys entry thats allNote
Quick update : Red fibs final : target 2458.164 Wave 3 of elliot waves should be completed right thereNote
🔴 Here are the most notable developments:• The plane of the Iranian President and his Foreign Minister crashed after they returned from their visit to Azerbaijan.
• After 16 hours, Iran announced the martyrdom of the President, the Minister of Foreign Affairs, and all their companions.
• Immediately upon this announcement, gold rose strongly to levels of $2,450 per ounce, while oil prices rose again to levels above $80 per barrel.
• Now we must focus on only one thing, which is how the plane fell and was it intentional?
⚠️ If the plane crash was intentional and accusations were leveled against Israel or any foreign country, then we will witness very large increases in the prices of gold and oil.
👈 Today there are no important economic data
Note
🔴 Gold is at $2,413 per ounce after recording a new historic peak above $2,450, with increasing expectations that the US Federal Reserve will cut interest rates next September...and silver is retreating from its highest levels in 11 years.Note
Governor and Fed member Barr considers that the inflation reading in the first quarter was disappointingIt did not provide them with sufficient confidence to ease monetary policy
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how do you rate my analysis guys , what you think leave a comment please or feedbackNote
🔴 Federal Reserve Bank Chairman Cleveland Meister: Inflation will decline, witnessing fewer than three interest rate cuts in 2024.
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