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XAUUSD - Precious metals level off after 'galloping'Last week, the gold market witnessed the most impressive breakthrough since early spring when the price of this precious metal increased by more than 60 USD/ounce thanks to strong safe-haven demand at both the beginning and end of the week. Kitco News's latest weekly gold survey shows that market analysts and retail investors expect gold to continue to increase in price in the week ending October 20. On the data front, this week was a relatively quiet week with little important data being announced. In addition, September US retail sales numbers will be announced on Tuesday, the market awaits Fed Chairman Jerome Powell's speech on Thursday. In addition, the US announced tightening sanctions on Russian crude oil exports on Friday, causing oil prices to increase to 90 USD/barrel. Some analysts note that as oil prices continue to rise, gold's role as a safe haven will help fend off risks, which is even more beneficial for gold.
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by FalCol_TradingMaster
XAUUSD - Precious metals leveled off after soaringAfter many consecutive days of rising, the price of gold today, October 13, of the world has decreased as data broadcast in the US cooled, the USD and US interest bonds heated up. Overnight, the US announced that the annual consumer price index (CPI) increased by 3.7%, higher than the forecast of 3.6%. However, the annual core CPI excluding real product and energy prices decreased from 4.3% to 4.1%, meeting market expectations. At the same time, the US also announced the number of initial unemployment support applications of 209,000 applications, better than the forecast of 210,000 applications. Analysts say that utilization in the US is decreasing and the improving job market will push the US Federal Reserve (FED) to raise interest rates in November 2023 and maintain high interest rates for a longer period of time. . The value of the USD has skyrocketed after the above information. The 10-year US bond core increased by 4.65%, the 2-year bond increased by 5.07%. Under pressure from the USD and US bonds, gold prices may decrease after being able to control 1,885 USD/ounce. So they took the opportunity to sell it and make a profit. As a result, today's world gold price decreased by 15 USD to 1,870 USD/ounce at 6:00 a.m. on October 13.
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by FalCol_TradingMaster
XAUUSD - Gold prices continue to rise with no signs of stoppingWorld gold prices increased this morning with spot gold increasing by 14.2 USD to 1,874 USD/ounce. December gold futures last traded at $1,873.80/ounce, up $13.50 from yesterday morning. World gold continues to benefit from safe haven demand in the context of the Israel-Hamas conflict with no signs of ending. The precious metal has been strengthening modestly despite the September meeting compilation of the US Federal Reserve (Fed) showing that the central bank is committed to maintaining "higher" monetary policy market settings. " over the longer term " The Federal Open Market Committee (FOMC), the Fed's policy arm, continues to support interest rate increases until it is certain that growth will fall to the 2% target. The gold market is proving solid after escaping its lowest level in 7 months last week. While the market remains risky, World Gold Council (WGC) analysts said last month's selling pressure could be a buying opportunity for advisors.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1
XAUUSD- Gold prices climbed high, oil and USD went downWorld gold prices this morning were stable with spot gold down 1.1 USD to 1859.8 USD/ounce. December gold futures last traded at 1,873.8 USD/ounce, up 9.5 USD compared to yesterday morning. Although the Israel-Hamas conflict has not subsided, it continues to promote safe-haven buying activities in the gold market. However, that momentum failed to help the precious metal hold on to its previous gains due to the rise in bond yields. Although gold is not shining, market analyst Fawad Razaqzada at City Index believes that this precious metal will still find strength in a risk environment. Besides, the fact that the USD did not find motivation after Friday's stronger-than-expected employment report has made many investors think about the possibility that the greenback has peaked and that is a good sign for the market. golden school. This expert said that spot gold continued to hold above 1,857 USD/ounce on Tuesday afternoon (US time) and that was the first important short-term resistance level. While a slight pullback from this level is understandable, the reality is that support in the long-term area around $1,805 to $1,820 an ounce was in place last week, before the risks flared. political geography. This expert said that is a good sign for gold.
OANDA:XAUUSDLong
by FalCol_TradingMaster
2
XAUUSD - Will gold recover this week?World gold prices this morning tend to increase with gold prices increasing by 2.5 USD, so the trading level is up to 1835.6 USD/ounce. In trading late last week, the gold market demonstrated recovery momentum as the labor market breakout revealed some weakness despite last month's increase in jobs. The modest increase ended a long series of declines since the US Federal Reserve (Fed) kept interest rates unchanged at its policy meeting on September 20 and the US jobs report was recently released. sending gold prices right to a 7-month low. Kitco News' latest ongoing gold price survey fails to find a clear picture of gold's direction this week as both market analysts and investors are evenly divided on the precious metal's outlook for week ending October 13. Specifically, among the analysts who consulted the survey, 38% thought gold prices would be higher this week; 38% predict prices will decrease; 24% have a neutral view on gold this week. Meanwhile, 43% of retail investors participating in online Main Street tours expect gold to rise this week, 42%11 predict lower prices, 15% see prices moving sideways in the near future. limit. limit. The survey shows that retail investors expect gold prices to trade around $1,842/ounce this week, $30 lower than last week's expectations. Michael Moor, founder of Moor Analytics, said gold is forecast to fall this week. However, he believes that the precious metal must be at the bottom and it may be time to turn around.
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by FalCol_TradingMaster
GOLD - Precious metals are expected to continue to declineWorld gold prices are on an upward trend with gold transactions immediately increasing by 2.5 USD with a trading level of up to 1835.6 USD/ounce. Kitco News' latest ongoing gold price survey has 38% calling for higher gold prices this week; 38% predict prices will decrease; 24% have a neutral view on gold this week. The USD on the world market spread and increased sharply in the international payment basket. The Dollar-Index - measuring the strength of the USD in a basket of 6 host currencies increased by 0.24% compared to the previous session, up 106,300 points Michael Moor, founder of Moor Analytics, said gold is forecast to fall this week. However, he believes that the precious metal must be at the bottom and it may be time to turn around. Meanwhile, James Stanley, senior market strategist at Forex.com, said gold will likely maintain its recent range this week. Stanley doesn't think another recession will produce a bottom, although it could happen
TVC:GOLDLong
by FalCol_TradingMaster
Gold price increased again, short-term trend is difficultEven though the USD and US Government bond yields increased quite strongly this morning, investors still put their gold purchasing power to hedge against risks. Specifically, the Dollar-Index - which measures the strength of the USD in a basket of 6 currencies, increased by 0.24% compared to the previous session, to 106,300 points, at 6:13 a.m. this morning. (Hanoi time) None I). Hard US Government bond yields remained around the 16-year high, increasing 0.28% to 4.795%/year at 6:15 a.m. this morning. Experts say that the increase in gold prices despite two profitable assets, bond yields and the increase in the USD, is due to the increasing conflict in the Gaza Strip, which has so far shown no signs of cooling down. According to experts, when geopolitical tensions escalate, it will create economic activity regardless of the regime. Because global commodity supply chains will more or less affect and disrupt supply. This will make economies that are still deeply hurt by the epidemic and geopolitical tensions in Russia - Ukraine, now continue to be hurt by tensions in the Gaza Strip. However, experts also warn that investors should be careful when on October 12, the US will announce the September consumer price index (CPI). This is the number that determines whether or not the US Federal Reserve (Fed) will raise interest rates. If this index increases or is forecast, many Feds are still likely to raise interest rates once, putting pressure on gold.
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by FalCol_TradingMaster