XAU ends up gaining ground for USDWorld gold prices stopped increasing and turned down as the USD strengthened and investors waited for US economic data for more signals about the upcoming interest rate cut by the US Federal Reserve (Fed).
Forexpower
XAU/USD Poised for Potential Gains Amid Market UncertaintyFor today, the technical outlook for XAU/USD (gold vs. USD) indicates a possible upward movement, with gold continuing its bullish trend due to various macroeconomic factors. Analysts suggest that if gold remains above key support levels, there could be further gains. Some expect it to test resistance around $2685, while if prices fall below $2668, a short-term decline to $2635 may follow
This is influenced by ongoing geopolitical risks and market speculation on future Federal Reserve policy, which tends to drive safe-haven assets like gold higher
#XAUUSD 1HBased on the 1H analysis, I'm watching for a selling opportunity around the key resistance zone between 2650.00 and 2653.71.
Targets: 2640.00 / 2632.00 / 2606.67.
Avoid placing any advance orders at this time. Wait for a solid bearish confirmation before entering the trade. There’s a chance the price could drop directly from the current levels.
#XAUUSD#GOLD
XAU slightly increased after a sharp decline in the previous sesWorld gold regains momentum
World gold prices recorded a slight increase of 2,636 USD/ounce, showing a recovery compared to the previous session. In the previous trading session, the price had fallen to 2,629.5 USD/ounce due to pressure from the signal of a moderate pace in the Fed's next interest rate easing cycle. Fed Chairman Jerome Powell spoke at the annual meeting of the National Association for Business Economics (NABE), emphasizing that the economy is in a solid state and the Fed will continue to carefully evaluate input data when considering the next policy adjustment.
XAU drops to record low after Fed newsThe global XAU price has retreated from a recent record high on September 30, but is still set for its biggest quarterly gain in more than eight years on geopolitical tensions and a rate cut by the US Federal Reserve.
Investors are looking ahead to this week’s US jobs report and non-farm payrolls data due later this week.
Bullion’s gains on Monday were limited by some profit-taking and a boost in risk sentiment after Chinese stocks were poised for their best day in 16 years, analysts said.
Gold is being supported to increase in price from many sides.Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month.
The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%. Personal income also fell from a 0.3% increase in July to 0.2% in August, below the forecast of 0.4%.
The PCE index is a measure of inflation based on changes in personal consumption and is used by the Fed as its preferred indicator of inflation. Personal spending can reflect consumer optimism.
Gold trend is buy with target 2700 read the caption Despite the recent dovish comments from US Federal Reserve (Fed) policymakers and mixed US economic data, market expectations for a 50 basis points (bps) interest rate cut in November ease, with the odds of such a move now standing at 50%, down from about 62% seen a day ago, the CME Group’s FedWatch Tool shows.
XAU continues to set new recordsThe upcoming US presidential election could boost gold prices due to market uncertainty, making it a safe-haven option for investors. Despite some selling pressure to lock in profits, gold prices remained steady after hitting a new record on Wednesday. Investors believe that upcoming comments from Fed Chairman Jerome Powell and US inflation data will support further rate cuts.
BTC making buy zone BTC rise expected read the caption Bitcoin halving is here, an event expected to raise the curtain on the next market cycle. There has been a lot of turbulence in the market of late. Events such as flows from exchange-traded funds (ETFs) and tensions in the Middle East between Iran and Israel have sent traders into their shells. However, there could be some relief in the market after Iranian officials indicated there are no plans to retaliate
SAU continues to rise after setting a recordWeaker US macroeconomic data has put significant downward pressure on the USD, pushing it closer to its lowest level this year while pushing gold prices to a new record high. The Consumer Confidence Index fell to 98.7 in September, down from 105.6 in August, while Current Conditions fell to 124.3 from 134.6.
A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.
Gold prices are likely to surpass $2,700/ounce, at the earliest.The expert said that the price of gold is likely to exceed 2,700 USD/ounce, as early as this weekend, if there is more information about the US Federal Reserve (FED) continuing to cut interest rates and Middle East tensions continuing to escalate.
extended its record rally, trading at 2,658.6we are seeing a price setup from XAU and the price is getting higher every day, every day there is a price record
expect that if the trend of interest rate cuts and political tensions in the Middle East continue to escalate, there is a possibility that gold will rise to $3,000/ounce in the medium term
Speculation surrounding the possibility of some new moves by Iran has boosted safe-haven demand for the precious metal, said Bob Haberkorn, senior market strategist at RJO Futures.
XAU continue to increase recordGold prices surged to a record high last week after the US Federal Reserve cut interest rates and have largely continued to rally
Moreover, gold rose as markets priced in a doubling of the Fed’s chances of cutting rates before Christmas. The probability of another 50 basis points (0.50%) cut at the next meeting in November now stands at 51.6%, compared with 48.4% for a 25 basis points cut, according to the CME FedWatch tool.
World XAU continues to hit new highsThe US Federal Reserve’s interest rate decision last week did not disappoint the gold market. After the policy meeting, gold prices continuously “broke” records and ended the week above the $2,600/ounce mark. Currently, gold prices continue to expand their upward momentum and are fluctuating around $2,628/ounce.
Gold 2700 confirm target read the caption If buyers manage to defy the bearish pressures, the $2,530 round level needs to be taken out decisively for further upside. Acceptance above that level will call for a test of the $2,650 psychological barrier, as buyers then target the $2,700 threshold for the first time ever
Investors need to continue to closely monitor economic data.retail investors are bullish on gold’s potential upside. Industry experts are split on short-term bullish and bearish sentiment.
Marc Chandler, CEO of Bannockburn Global Forex, predicts that gold prices will trend sideways this week. Gold has hit its target of $2,600 an ounce after the Fed cut interest rates. The gold market will be less active as investors take profits.
XAU price at all time highThe trend of monetary easing and gold buying by central banks, along with geopolitical tensions, have boosted the price of this precious metal.
The main event this week that has a strong impact on gold prices is the US core personal consumption expenditure (PCE) index for August, which is an important inflation measure of the Fed.
Gold up slightly after FOMC dropThe half-point decision was made after considering inflation, economic data and risks. Along with the policy pivot, many economists noted that there will be more than one rate adjustment this year. Accordingly, the dot-plot chart shows the central bank expects rates to fall to 4.4% by the end of the year, down from the 5.1% estimate in June.
XAU recovers after news-driven plungeGold rose slightly in early trading after reversing sharply lower yesterday. Gold benefited from the sharp decline in the US dollar and government bond yields following the Fed policy decision, with the metal surging more than $30 to a new all-time high of $2,600.14. However, the recovery in the US dollar and yields during and after Mr. Powell's press conference pushed gold back down to around $2,550. At the end of yesterday's session, gold adjusted to $2,556, recording a decline of more than $10.
Gold prices fall sharply after news from the FedGold prices are always sensitive to US interest rate adjustments. A weaker USD makes gold more attractive to investors. In case the Fed cuts interest rates by 25 basis points, gold prices could reach the target of $2,700/ounce by early 2025.
Gold prices broke the technical level above $2,550/ounce. Investors are optimistic about the prospect of the Fed preparing to cut interest rates.
XAU plunges after FOMC newsMarkets are looking ahead to the Federal Open Market Committee (FOMC) meeting, followed by a press conference by Fed Chairman Jerome Powell. Investors are expecting the Fed to cut interest rates by 50 basis points. The CME FedWatch tool predicts a 100% chance of a rate cut in September, with 63% for a 50 basis point cut and 37% for a modest 25 basis point cut. This would be the Fed's first rate cut in four and a half years (since March 2020).
World gold price is moving sideways around 2,573 USD/ouncePressured by a rebound in the US dollar and a slight rise in US government bond yields, the yellow metal lost 0.5% after hitting an all-time high of $2,589 an ounce earlier in the week. Traders are now waiting to see whether the US Federal Reserve will pivot policy at this meeting as expected.
Following a series of optimistic data, financial markets are predicting the possibility of the Fed cutting interest rates more aggressively in its first interest rate cut since 2020. According to the CME FedWatch tool, the market is certain about the possibility of easing monetary policy with 63% predicting a cut of 50 basis points.
“It’s time to act” and be ready for more rate cutsThe Fed raised interest rates to curb inflation, which peaked at a historic 9.1% in June 2022. Maintaining very high interest rates over the past two years has caused many difficulties for Americans, and the economy has recently shown many negative signs, affecting the labor market. Many experts are worried that the US economy will fall into recession. Over the past month, Fed officials have sent many signals that the bank will cut interest rates.
The clearest signal was on August 23 when Fed Chairman Jerome Powell gave a speech saying that "it is time to adjust monetary policy", when inflation in the US has decreased significantly and the labor market has also cooled down to normal levels. Mr. Powell said that the Fed "will do everything" to support a strong labor market. This statement was immediately interpreted as the Fed will begin the process of cutting interest rates from the September meeting.
