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XAU is expected to fall sharply in the coming time.The price increase in the international market is mainly due to increased bottom-fishing demand. In the previous sessions, the precious metal fell quite deeply, at times down to 2,370 USD/ounce, but still held firm above the important support level of 2,350 USD/ounce - the 50-day average price. Demand for gold is overwhelming compared to the pressure from a rising USD. Gold is forecast to hardly decrease deeply and is ready to increase in price following the interest rate cut signals of the US Federal Reserve (Fed) and purchasing power from major players in the world. If previously, central banks of many countries, including China, bought heavily, causing gold to skyrocket in late 2023 and early 2024, recently, gold exchange-traded funds (ETFs) have stepped up their purchases of this commodity. The buying activities of large funds such as SPDR Gold Trust have made many people believe in a new rally in gold.
OANDA:XAUUSD
by NicoTradingMaster
Trading strategy when gold fallsThe recovery in the US dollar has put pressure on the yellow metal. Accordingly, the US Dollar Index rose about 0.3% to a more than two-week high, making gold more expensive for holders of other currencies. According to Marex analyst Edward Meir, in addition to the recovery in the greenback, data from China showing that gold consumption in the world's largest gold consumer has decreased also affected the direction of gold. The latest report shows that gold consumption in China fell 5.6% in the first half of 2024 as demand for gold jewelry fell 26.7% amid high prices. However, demand for gold bars and coins has skyrocketed. Although gold was pressured by the greenback, experts said the decline of this precious metal was "slowed" by concerns about increased geopolitical tensions in the Middle East after a missile attack in the Golan Heights.
TVC:GOLD
by NicoTradingMaster
XAU Recovers After 2 Weeks as USD WeakensXAU prices saw a sharp sell-off following the release of positive US macroeconomic data, plunging to a more than two-week low on Thursday. The preliminary estimate of the US Gross Domestic Product (GDP) showed the US economy growing at a faster-than-expected pace and inflation falling in the second quarter of 2024. This suggests that the US economy is still holding up well and has created some stability in financial markets, thereby putting pressure on the precious metal - a traditional safe-haven asset. The bullish sentiment continued to keep gold prices on the defensive in the Asian session on Friday, although expectations that the Federal Reserve (Fed) is about to start its rate-cutting cycle helped limit losses. Traders also turned cautious and awaited the release of the US Personal Consumption Expenditures (PCE) Price Index later Friday. This key inflation data will play a key role in determining the Fed's policy path.
OANDA:XAUUSD
by NicoTradingMaster
Gold prices decreased rapidly due to the impact of many newsThe fluctuations after the discharge of the initial PMI document had been now no longer too significant. Besides, earlier than the outlet of the 5-yr US authorities bond auction, gold expenses accelerated barely as yields decreased. But quickly after, the 10-yr authorities bond yield accelerated 2 bps to 4,274%, placing strain on gold expenses. Although the USD weakened barely, the effect become insignificant. CME`s FedWatch device suggests a 100% chance of a 25 bps price reduce in September; even as marketplace forecasts display that the Fed may also reduce hobby quotes via way of means of a complete of fifty three bps in 2024. Not to mention, India's reduce in import taxes on valuable metals additionally boosts gold call for. However, those high quality elements are nevertheless now no longer sufficient to face up to promoting strain. US Q2 GDP and center PCE facts could be launched these days and tomorrow, it's miles anticipated that the gold marketplace will stay volatile. Looking longer term, BMO Global Asset Management Chief Investment Officer Sadiq Adatia stated that elements consist of continual issues approximately the threat of recession, call for from significant banks and developing hobby from National funding budget can push gold expenses to new document levels.
TVC:GOLD
by TrategySherpa
XAU the world plummeted without stoppingXAU the world plummeted without stopping Gold prices continued to fall without stopping, reaching a low of 2,370 USD/ounce at the beginning of the Asian session on Thursday morning. Thereby, world gold recorded a decrease of nearly 5% from the peak of 2,483 USD, or about 113 USD/ounce in just 7 trading sessions. Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased slightly as yields decreased. But soon after, the 10-year government bond yield increased 2 bps to 4,274%, putting pressure on gold prices. Although the USD weakened slightly, the impact was insignificant. CME's FedWatch tool shows a 100% probability of a 25 bps rate cut in September; while market forecasts suggest the Fed could cut interest rates by a total of 53 bps in 2024
OANDA:XAUUSD
by TrategySherpa
XAU rebounded after the FED pivoted its policyGold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics. The decline of many stock markets also caused gold to be sold to compensate for stock purchase contracts. However, bottom-fishing demand quickly increased again for gold. Mr. Biden's abandonment of his bid to run for re-election as US President has paved the way for another Democrat, most likely Ms. Kamala Harris.
OANDA:XAUUSD
by NicoTradingMaster
XAU is at a low price compared to last weekThe XAU price fell to its lowest in more than a week today as traders await more US economic data and comments from US Federal Reserve (FED) officials this week for further action. more clarity on the timeline for interest rate cuts. Markets see a more than 90% chance the Fed will cut interest rates in September, down from a previous forecast of 98%. Senior market analyst at FxPro Alex Kuptsikevich said that the simultaneous decline in the gold and US stock markets recently is not a good omen for this precious metal.
OANDA:XAUUSD
by TrategySherpa
The gold market increased slightly compared to the first day of While the current rally became pushed with the aid of using bodily factors, strategists say cash flows will gas the following rally. They notice that this modification is beginning to appear, predicting that gold fees may want to attain 2,650 USD/ounce with the aid of using the fourth region of 2024. | The XAU fee fell to its lowest in extra than every week nowadays as investors watch for extra US financial records and feedback from US Federal Reserve (FED) officers this week for similarly action. extra readability at the timeline for hobby fee cuts. Markets see a extra than 90% danger the Fed will reduce hobby fees in September, down from a preceding forecast of 98%. Senior marketplace analyst at FxPro Alex Kuptsikevich stated that the simultaneous decline withinside the gold and US inventory markets lately isn't always a very good omen for this valuable metal.
TVC:GOLD
by TrategySherpa
World gold recovered slightly and is fluctuating around 2406World gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal consumption expenditure index report may not create large price fluctuations. Although gold is likely to decline in the short term, some experts say that will not affect the medium-term prospects of this precious metal. Accordingly, optimistic opinions are that the decline will not last long and gold is still strongly supported by interest rate expectations, geopolitical situation along with uncertainties surrounding the elections.
TVC:GOLD
by NicoTradingMaster
The world XAU market turned around after rising higherAs mentioned to readers in yesterday`s edition, gold has suffered a downward correction after the Relative Strength Index operated withinside the overbought area, indicating that the room for rate will increase is now no longer too great. big and require modifications after a protracted length of rate will increase. Currently, gold is likewise working pretty low however does now no longer have an effect on the primary fashion of rate growth with the rate channel as the quick-time period fashion and long-time period fashion. In the quick time period, the truth that gold can get better to keep above the technical stage of 2,430 USD might be an excellent signal for it. On the alternative hand, if gold recovers lower back above $2,449, it's going to mark the stop of the downward adjustment cycle. During the day, gold may want to preserve to accurate similarly as soon as it's miles bought below $2,420 with a next drawback goal of around $2,400. The downward correction cycle from the uptrend of gold expenses might be observed once more via way of means of the subsequent technical levels. Support: 2,420 - 2,400USD Resistance: 2,430 - 2,449USD
OANDA:XAUUSD
by NicoTradingMaster
Gold retreated from the peakGold prices have dropped more than 1.5% from the peak of 2,483 USD/ounce. US unemployment claims exceeded forecasts, showing the economy is slowing and strengthening the case for interest rate cuts. DXY index increased 0.43% to 104.18; 10-year US government bond yield increased 2.5 bps to 4,187%. In the context of extremely increased expectations of interest rate cuts in September, gold prices reached a new all-time high of 2,483 USD, but demand could not maintain the upward momentum as a part of investors moved forward. take profit. This, along with former US President Donald Trump's announcement of imposing at least 60% tariffs on Chinese goods, has boosted the flow of money back to the USD.
OANDA:XAUUSD
by TrategySherpa
reinforce market sentiment when gold rises too highInterest rate expectations: Investors expect the FOMC will start cutting interest rates from September onwards. Geopolitical instability: Ongoing conflicts in Ukraine and the Middle East continue to destabilize markets, causing investors to seek haven assets such as gold. Central banks diversify reserves: Central banks are proactively increasing the amount of gold in their reserves, reducing dependence on the USD. Although China recently paused gold purchases, a World Gold Council (WGC) report shows that 20 other central banks still plan to increase their gold holdings. Rising demand: Demand for gold from people in India and China shows no signs of slowing down. India's gold reserves are at their highest level in two years, and a real estate market downturn in China is driving up gold demand.
TVC:GOLD
by NicoTradingMaster
Gold increased sharply after US economic data weakenedXAU stays near historic peak, domestic gold skyrockets after more than 2 months of "immobility" World gold prices continue to climb and are at a historic peak due to the further weakening of the USD. According to the CME FedWatch tool, the market is betting on a 100% chance that the US Federal Reserve will cut interest rates on September 18. Earlier this week, Fed Chairman Jerome Powell said that recently released data "increases confidence" that inflation is falling sustainably toward the Fed's target level. Many Fed policymakers also said they are increasingly optimistic that inflation is on track and falling toward the 2% target mark.
OANDA:XAUUSD
by NicoTradingMaster
AUD/USD on a 15-minute timeframeThe blue highlighted area around the 0.67253-0.67288 level represents a strong support zone. The price has tested this area multiple times and shown a tendency to bounce back from it. The current price is around 0.67288-0.67276, which is near the support zone. The resistance level is marked around 0.67547, indicating a potential target for the bullish move. The projection indicates a potential bullish move from the support zone up to the resistance level around 0.67547. This suggests an expectation of a price increase after possibly forming a base around the support. Consider entering a long position around the current price level (0.67288) or slightly lower, closer to the support zone (0.67253). Ensure proper risk management by setting stop losses and monitoring key levels for any invalidation of the bullish scenario.
Long
by TopGBanks
1
XAU increased to a record high everXAU price increased quite strongly to near historical peak after the instability taking place in the world World gold continues to increase and moves towards the historic peak of 2,450 USD/ounce recorded on May 20 after the US announced that total retail sales remained unchanged in June. In May, revised figures showed total retail sales increased 0.3%. In fact, economists forecast that total retail sales decreased by 0.3% in June. Thus, the number announced last month exceeded expectations. However, this is not positive information. The US economy tends to send signals that are no longer as strong as in the first few months of the year. Previously, the US announced that inflation continued to cool down and the labor market tended to deteriorate with the unemployment rate increasing.
OANDA:XAUUSD
by NicoTradingMaster
Cash flow will pour into gold and gold prices will reach recor hGold is assessed to benefit in the context of increased risks after the incident of former US President Donald Trump being suspected of shooting during an election campaign in Butler, Pennsylvania on July 13. If Mr. Trump wins the election next November, the USD may weaken, thereby also pushing up gold prices. Macroeconomic data that is no longer bright is the basis for US Federal Reserve Chairman Jerome Powell to recently signal a reversal in monetary policy. Mr. Powell expressed concern about the weakening of the economy and the risk of recession. In a testimony before the US Congress last week, the most powerful man in the world's financial industry said that the US will cut interest rates and not wait until inflation is clearly heading towards the 2% target. The USD has recently declined following signals from the Fed, thereby putting pressure on gold. Gold also increased in price thanks to positive signals from technical analysis. The upward price momentum has been established after precious metals rose quite firmly above the threshold of 2,400 USD/ounce over the past several days. Upward momentum is being confirmed and gold is forecast to set a new all-time high, possibly as soon as this week.
TVC:GOLD
by NicoTradingMaster
XAU is in a period of sky-high pricesDirector of Investment Strategy at abrdn, said that Fed Chairman Jerome Powell's testimony before Congress last week appeared to be the turning point that the market has been waiting for for a long time. During a two-day hearing on Capitol Hill, Fed Chairman Jerome Powell told Congress that risks to the economy now hang in the balance. "Rising inflation is not the only risk we face," Mr. Powell emphasized in prepared remarks. Immediately after these comments, gold prices held the $2,400 support level and even surpassed the peak of the two-month accumulation period. The August gold futures contract set a new record at a price of 2,470.20 USD/oz. This breakthrough took place in the context that the market was almost completely confident that the Fed would reduce interest rates in September.
OANDA:XAUUSDShort
by TrategySherpa
The Fed shifted its focus away from inflationThere are many other credit products on the market that now have higher interest rates than before. All of this shows that the strength of the economy is declining. Even a little stress in the labor market can cause serious problems. The Fed still has a chance to avoid a recession, which is why gold has so much potential. There are a lot of risks and the Fed is running a little late, but they're not irreparable," he said. "This is why a rate cut in September is almost certain. Because the Fed is lagging behind, they will have to take stronger and quicker measures to keep up with the situation Looking at the last three interest rate cycles, gold rose 57% in 2000, but silver rose 65%. Similarly, in 2006, gold increased by 235% while silver increased by 318%. And most recently, at the end of 2018, gold increased by 69% while silver increased by 101%. Silver is more volatile than gold
TVC:GOLD
by TrategySherpa
At this point, a rate cut in September looks very likely.A range of critical financial reviews can be launched via way of means of americaA this week. Experts expect that the gold marketplace will now no longer alternate an awful lot after those reviews. However, the fashion of gold continues to be at the upward push because of expectancies that americaA Federal Reserve (Fed) will loosen economic coverage whilst the June customer charge index file is published. FxPro senior marketplace analyst Alex Kuptsikevich stated that the reality that gold nonetheless continues the $2,400/ounce mark is a superb sign. He stated that presently the indicators displaying the opportunity of hobby charge cuts via way of means of the Fed have become clearer. In any other analysis, gold is likewise expected to boom sharply via way of means of experts. Accordingly, worries approximately instability earlier than and after elections in many nations round the arena will guide the upward push of gold, pushing valuable metallic expenses to new records.
TVC:GOLD
by TrategySherpa