Gold turned up again, entry buy todayGold prices today jumped sharply after a number of major central banks decided or signaled their readiness to cut interest rates in the future.
In Sweden, the country's central bank cut interest rates by 0.25 percentage points to 3.75%. The Bank of England (BoE) announced to keep interest rates unchanged at 5.25% and hinted at an upcoming interest rate cut when inflation falls below target.
Gold prices today also have more upward momentum thanks to increased demand for safe haven capital. The cause stems from the deadlock in ceasefire negotiations between Israel and Hamas after Israel continued to attack Rafah, increasing the pressure of geopolitical risks.
With the above picture, investors may expect the gold market to heat up. So they increase their purchasing power. Gold price today increased sharply by 42 USD, from 2,306 USD/ounce to 2,348 USD/ounce at 6:00 a.m. on May 10.
Forexsignal
Today's trading trend, waiting to buyWater was at 2,353.1 USD/ounce, an increase of 30.8 USD compared to yesterday morning.
The weakening of the USD has strongly supported the upward trend in the price of the yellow metal on May 9 (US time). Specifically, the US Dollar Index decreased by 0.32% to 105, increasing the appeal of gold to buyers holding other currencies.
FXStreet editor Joaquin Monfort said that gold prices rose higher "after a number of major central banks decided to cut interest rates or signaled a willingness to cut interest rates more in the future." Lower interest rates reduce the "opportunity cost" of holding gold, a non-interest-bearing asset, making it a more attractive investment.
Specifically, in Sweden, for the first time since 2016, Riksbank has cut interest rates by 0.25% to 3.75%. In the UK, the Bank of England (BOE) announced to keep interest rates unchanged as many people predicted, but signaled that it will cut interest rates in the near future.
The Swiss Central Bank, the Reserve Bank of Australia (RBA) and the European Central Bank have also made similar moves.
M15 Buy Setup For GoldFinally Price has taken out the low of our momentum candle now our final buy order will be triggered when the 15-minute candle closes above 2314, targeting a minimum of 100 pips with an expected target of 2323-2329.
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It is predicted that XAU will continue to increase in the near fSpot world gold stands around 2,309.5
World gold prices decreased rapidly in the context of the USD rebounding in the midst of an unstable world
The USD has continued to increase in price compared to most other currencies since the beginning of the year, thereby making investors worried.
Since the beginning of the year until now, the USD has increased about 4% compared to a basket of 6 major currencies.
A still strong USD is putting downward pressure on gold prices, even though demand for precious metals is increasing strongly around the world, especially in Asia.
Many recent forecasts say that gold will be under downward pressure this summer, possibly in May-June because the Fed will still delay reversing monetary policy, thereby causing the USD to stand at a high level.
However, gradually towards the end of the year, gold will increase again and may reach a new peak. The Fed is currently very worried that inflation may rise again and that if it cuts interest rates early, it may not be able to control commodity prices.
Some countries such as Indonesia were recently forced to raise interest rates, despite the economy's declining growth. But the US is different, the USD is very strong so the Fed will just wait for the right time to reduce interest rates, maybe around next September.
Trading strategy today, gold cools downGold prices continued to fall in today's trading session, receiving little support from safe-haven demand as recent comments from US Federal Reserve (FED) officials showed the market was skeptical. Doubtful expectations of interest rate cuts.
The yellow metal saw some safe-haven demand this week as the conflict between Israel and Hamas worsened and ceasefire talks made little progress.
However, safe-haven purchases were offset by pressure from renewed concerns about high US interest rates as well as the dollar's recovery.
Prices for the yellow metal received little support from the dollar's recent decline, as the greenback rebounded on Tuesday after some Fed officials said the central bank was more likely to hold steady interest rate in 2024.
This view was voiced by Minneapolis Fed President Neel Kashkari on Tuesday and caused traders to rethink some expectations for interest rate cuts this year.
Expectations for a rate cut in September rose after weak payrolls data last week. But Kashkari and his colleagues say tough inflation remains the main point of contention for the Fed.
The prospect of higher long-term US interest rates is not a good sign for gold because it pushes up the opportunity cost of investing in the yellow metal.
Gold cools down, entry buy nowWorld gold prices stabilized with spot gold down 6.3 USD to 2,307.6 USD/ounce. Gold futures last traded at 2,316.1 USD/ounce, down 6.2 USD compared to yesterday morning.
World yellow metal prices decreased slightly compared to yesterday morning as investors continued to wait for US data to find clues about the possibility of cutting interest rates by the US Federal Reserve (Fed). The recovery of the USD also puts slight pressure on gold. The US Dollar Index rose 0.1%, making gold less attractive to foreign currency holders.
According to analyst Peter Fertig, what the market is currently concerned about is the timing of the Fed's interest rate cut this year. He said that if inflation does not really decrease, the Fed will still keep interest rates unchanged.
In his statement mid-week, Minneapolis Fed President Neel Kashkari gave a "hawkish" view on monetary policy, saying that the US Central Bank may keep interest rates high for a while. longer.
Investors are now looking forward to the results of the University of Michigan's consumer sentiment survey due out on Friday and comments from multiple Fed officials this week. US consumer price index data will be published on May 15 (US time).
The sideways trend continues, the model signals a decline flagGold remains pegged below key resistance patterns, with a bearish flag suggesting lower price potential unless it rises above recent highs.
Gold remains stuck in its most reasonable course and is prone to a 5-day turnaround. Consolidation is taking place just below the resistance indicated by the purple 20-day MA, currently at the 2,330 level, and the 38.2% Fibonacci retracement at the 2,322 level. The 38.2% price area previously showed support and was massive in size. Furthermore, gold remains under a strong flag starting with a break below 2,320 last Tuesday. Since then, recent price action has done nothing to negate the possibility of a deeper retracement and lower prices represented by the breakout of the flag.
Support from the recent consolidation is at last week's low of 2,227. The next bearish signal will be indicated when the price falls below that price level. The minimum of the calculation standard for the bear flag is given as a minimum standard of 2.238. However, the orange 50-day MA has turned up as gold prices have consolidated. If it continues to consolidate for a while longer, the 50-day lead could join a slightly higher target between 2,261 and 2,255. If so, the opportunity price will increase. The 50-day line is currently at 2,246.
💵 OANDA:XAUUSD SELL 2317-2320💵
✔️TP 2310
✔️TP 2305
❌SL 2326.5
💵 OANDA:XAUUSD BUY 2306 - 2304💵
✔️TP 2310
✔️TP 2320
❌SL 2298
Trading strategy today, wait to buy goldWorld gold prices went down when some US Federal Reserve (FED) officials said that inflation in the US remained high and interest rates could remain the same for a longer period of time.
Responding to this information, the USD-Index increased 0.26% to 105.42 points. Accordingly, the USD increased in value compared to many other foreign currencies. Gold price today is in a disadvantageous position.
Meanwhile, analysts say that US bond interest rates remaining at high levels have become attractive to investors. Since then, many people have limited capital into the gold market. Today's world gold price is forced to weaken.
Gold continues trend down, selling now waiting for entry to buyWorld gold prices turned down with spot gold down 9.1 USD to 2,313.9 USD/ounce. Gold futures last traded at 2,322.4 USD/ounce, down 8.8 USD compared to yesterday morning.
World gold decreased slightly as investors focused more on the prospect of interest rate cuts from the US Federal Reserve (Fed). According to CME's FedWatch tool, futures traders believe there is about a two-in-three chance that the US Central Bank will cut interest rates in September.
Although prices are pressured by the outlook for interest rates, StoneX analyst Rhona O'Connell sees tailwinds for gold, especially regarding geopolitical risks and potential tensions. hidden in the banking system, strong enough to support this precious metal.
In mid-April, world gold prices touched a record high of $2,431.29 an ounce as they were boosted by strong demand from Chinese central banks and retail investors amid tensions. Geopolitics is on the rise.
Recently released data shows that the Central Bank of China recorded the 18th consecutive month of additions despite high gold prices.
Entry to sell Gold today, risk of big decreaseAnalysts said that although gold recorded its second consecutive week of decline after a 5-week recovery streak, in general, investor sentiment still remains optimistic about the precious metal.
According to analysts' opinions, the US Federal Reserve (Fed) is clearly expressing its view that it will no longer be tough in monetary policy from now until the end of 2024. Specifically, in a recent press conference Recently, Fed Chairman Jerome Powell made it clear that the US Central Bank has no intention of raising interest rates.
In addition to monetary policy factors, experts also believe that the demand to buy gold from central banks is also one of the decisive factors pushing gold prices to a new record high.
World Gold Council (WGC) global research director Juan Carlos Artigas said that gold has proven to be the most diverse financial instrument, which is why central banks continue to hold gold.
There is a risk of decline, entry sell Gold todayWorld gold prices increased with spot gold increasing by 20.3 USD to 2,323 USD/ounce. Gold futures last traded at 2,332.8 USD/ounce, up 24.2 USD compared to yesterday morning.
The gold market entered the new trading week with solid gains, boosted by the weakening of the USD. The US Dollar Index fell to its lowest level in about a month as a recently released report showed that the US job market is weakening, which has increased expectations that the US Federal Reserve (Fed) will interest rate cuts this year.
ActivTrades senior analyst Ricardo Evangelista said that the number of jobs created last month was much less than experts forecast, combined with slowing wage growth, which will cause the Fed to consider easing. monetary policy this year.
According to the FedWatch tool, after the report, the market increased the likelihood that the Fed will conduct the first interest rate cut in September to 71%. Evangelista said that investors will wait for statements from some Fed officials this week to get more clues about the monetary policy trajectory of the US Central Bank. This expert also said that tensions in the Middle East will be a factor supporting gold this week.
Canada’s Ivey PMI and Employment Data: Impact on USD/CAD OutlookThe USD/CAD pair faces headwinds due to a strengthening Canadian dollar fueled by rising crude oil prices. This week's release of April employment statistics and Canada's Ivey PMI will provide insights into inflation and economic trends. Additionally, Fedspeak from Thomas Barkin and John Williams will be monitored closely. Recent US data suggesting a cooling labor market could prompt Fed rate cuts, contrasting with expectations of a possible Bank of Canada policy shift in June. The article concludes with a bullish stance on USD/CAD, recommending long positions with entry at 1.36989 and targets up to 1.39110, with a stop-loss at 1.34875.
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Gold moves sideways seasonally , why ? This week, 15 Wall Street analysts participated in the Kitco News Gold Survey and most analysts expect gold to slide this week. Four analysts, or 27%, predict gold prices will move higher, while five analysts, or 33%, predict gold prices will fall. 6 experts, equivalent to 40% of respondents, believe that gold will continue to trade sideways.
Meanwhile, 217 votes were cast during Kitco's online visit, with only a handful of Main Street investors expecting gold prices to move higher during the week. 102 retail traders, or 47% of the vote, expect gold prices to rise. Another 61 people, equivalent to 28% of the votes, predicted gold prices would decrease. The remaining 54 people, 25% compatible, expect gold to trend sideways.
However, in terms of time, experts still obtain golden energy but excess value increases. Many banks also predict that gold prices will continue to rise higher this year. Goldman Sachs ignored the Fed's higher interest rate hike on gold and forecast the precious metal's price would rise to $2,700 an ounce by the end of the year.
💵 TVC:GOLD BUY 2302- 2305 💵
✔️TP 2310
✔️TP 2315
❌SL 2297
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✔️TP 2305
✔️TP 2290
🚫SL 2329
XAUUSD prices may decrease in the short termWorld gold spot price is around 2,306.4 USD/ounce, up 5.4 USD/ounce compared to last week. Gold futures price in June 2024 on the Comex New York floor is at 2,304.7 USD/ounce.
Last week, the world gold price in the first session of the week traded at 2,335 USD/ounce. After that, the gold price could not be kept above 2,340 USD and began to decline, the lowest level of the week was below 2,283 USD.
World gold price increased again above 2,325 USD/ounce after the Federal Reserve (Fed) announced information on the interest adjustment roadmap. However, gold prices could not keep their upward momentum and weakened at the end of the week.
The latest weekly survey by Kitco News shows that experts forecast extreme value in terms of gold outlook development in the short term. Most retail traders expect gold prices to fall or move sideways. According to a Wall Street survey, 40% believe that gold prices will continue to move sideways, and 33% predict they will decrease.
This week, the market is interested in notable economic information such as the US 10-term bond fight, preliminary consumer sentiment report from the University of Michigan,...
Current Gold trading trend,sell first and wait for the buy priceLast week, the world gold price in the first session of the week traded at 2,335 USD/ounce. In the following sessions, gold prices could not maintain the mark above 2,340 USD and began to decline, reaching the lowest level of the week below 2,283 USD.
World gold price increased again above 2,325 USD/ounce after the Federal Reserve (Fed) announced information on the roadmap to adjust interest rates. However, gold prices could not maintain their upward momentum and weakened at the end of the week.
Gold price on Kitco closed the trading week at 2,301 USD/ounce. June gold futures price closed at 2,309.70 USD/ounce, down about 1% compared to last Friday.
Kitco News's latest weekly gold survey shows that experts are less positive about gold's prospects in the short term. Most retail traders believe that gold prices will decrease or move sideways. According to a Wall Street survey, 40% believe that gold prices will continue to move sideways, 33% predict a decrease.
This week, the market is interested in notable economic information such as the US 10-year bond auction, preliminary consumer sentiment report from the University of Michigan,...
Gold is likely to increase again, today's trading trendWorld gold prices tend to increase with spot gold increasing by 1.5 USD compared to last week's closing level to 2,302.7 USD/ounce.
Experts assess that the gold market has just had an interesting week when it received a lot of information that affects the direction of this precious metal. Gold started a series of declines and reached the lowest mark below 2,283 USD/ounce at noon on May 1 (US time) from 2,335 USD/ounce at the beginning of the week. However, this precious metal regained momentum when the US Federal Reserve (Fed) announced to keep interest rates unchanged and increased again above 2,325 USD/ounce. However, this precious metal was unable to maintain its recovery momentum and returned to test the level of 2,290 USD/ounce.
Although gold recorded its second consecutive week of decline after a 5-week recovery streak, experts still maintain optimism for this precious metal. Many opinions say that the US Central Bank has taken a not dovish stance on future monetary policy, but is certainly not "hawkish". At the press conference after the policy meeting in the middle of this week, Fed Chairman Powell made it clear that the Fed has no intention of raising interest rates.
“I think it is unlikely that interest rates will increase. I would say that is unlikely to happen,” Mr. Powell said.
Experts also say that the factors that pushed gold prices to record highs despite the Fed's stance still remain, including demand from central banks.
Gold has dropped dramatically,what is the opportunity to buy nowGold prices fell sharply in today's trading session, slipping from the $2,300/ounce level on concerns about higher, longer-term US interest rates ahead of this week's US Federal Reserve (FED) meeting. .
Weakening safe haven demand is also exerting pressure, especially as recent reports suggest ceasefire talks have resumed between Israel and Hamas. This makes gold even more vulnerable to interest rate risks.
But despite recent declines, gold prices still traded up more than 4% in April, extending the impressive gains seen in March.
The focus is now on the Fed meeting this weekend, where the central bank is expected to keep interest rates steady. But Fed Chairman Jerome Powell is expected to take a more hawkish stance on interest rates, especially after a series of hot inflation indicators.
Signs of persistent inflation suggest traders have largely underestimated expectations for a near-term rate cut by the Fed. The central bank is currently only expected to cut interest rates in September or the fourth quarter, if at all this year.
Higher interest rates for longer periods bode poorly for gold because they increase the opportunity cost of investing in the yellow metal. The strength of the dollar, thanks to the outlook for stable exchange rates, is also putting pressure on broader metals markets.
Other precious metals also decreased in price today, accordingly, platinum futures prices decreased 0.1% to 959.05 USD/ounce, while silver futures prices decreased 1.8% to 27,168 USD. /ounce.
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Gold decreased slightly as the USD maintained its solid positionThe gold market is getting some new bullish momentum. Gold prices are expected to continue to rise even if the US Federal Reserve (FED) delays the comfort cycle.
Despite recent selling pressure, Goldman Sachs still forecasts that gold prices will increase sharply. This unit finds that gold can maintain growth even if the Fed delays the comfort cycle.
Nicholas Snowdon - Head of Metals Research at Goldman - shared: “We are seeing a surge in demand from emerging market midstream banks and from Asian retail investors. But much of this has been brought about by psychological factors.
💵 TVC:GOLD BUY 2285- 2287 💵
✔️TP 2310
✔️TP 2315
❌SL 2280
💵 TVC:GOLD SELL 2313 - 2311💵
✔️TP 2305
✔️TP 2290
❌SL 2320