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GC1! (Gold Futures)

Bullish in the long-term, but not so bullish in the short termDespite our expectations for gold to continue slightly lower, it rebounded from around $1,940 to more than $2,000 per troy ounce. While this move is impressive, it is important to note that gold has been rising together with the stock market. As a result, we are again skeptical about its prospects of retaining the current price tag (especially if the stock market starts reversing from the current heights). With that said, we remain bullish on gold in the long term. However, we think gold will likely stay choppy in the foreseeable future. Illustration 1.01 Illustration 1.01 portrays the daily chart of XAUUSD and simple support/resistance levels. Technical analysis Daily = Slightly bearish Weekly = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
4
GOLD | Setting Up for the Next Leg Higher?OANDA:XAUUSD ANALYSIS, PRICES, AND CHARTS - US dollar weakness may be put on hold ahead of the Thanksgiving Holiday - The technical set-up for gold looks positive. The FOMC meeting minutes will provide more insight into the Fed's future plans. Markets believe that interest rates have reached their highest point and will be reduced next year. Chairman Powell has expressed confidence in the Fed's success in combating inflation. He also stated that the US central bank is prepared to raise interest rates if necessary. However, market expectations are for a 100 basis point decrease in US interest rates by the end of next year, with a 25 point cut expected at the May 2024 meeting. With the market now backing the view that rates are not going any higher, the US dollar has been moving lower. The US dollar index has shed four points since the beginning of November and broken through a number of layers of support with ease. If the DXY is unable to reclaim the 200-day simple moving average, further losses are likely. OANDA:XAUUSD PRICE TECHNICAL ANALYSIS In contrast to the US dollar, the technical outlook for gold looks positive. After selling off over the last three weeks as markets turned risk-on, the precious metal is now looking at the US interest rate space and pushing higher. Gold is trading above all three moving averages and is back above the 0.5% Fibonacci retracement level at $1,976. The recent $2,007/oz. high is the next target for bulls. Support is seen at $1,976/oz. ahead of $1,960/oz. Financial markets as a whole are expected to quieten down after Wednesday as the US celebrates Thanksgiving Day on Thursday before the annual Black Friday event. This liquidity drain will weigh on volatility going into the weekend.
OANDA:XAUUSDLong
by TVS-Trader
GOLD increased beyond 2,000 USD/ounceDuring the trading session lasting from last night to early November 22, the spot price of gold on the international market experienced a fierce increase, breaking the resistance threshold of 2,000 USD/ounce to reach 2,007 USD/ounce. . Gold price today has cooled somewhat, trading at 1,998 USD/ounce Gold prices today fluctuate strongly due to the decline in US bond interest rates - to 4.4%/year. Since then, investors criticized bonds and shifted money to precious metals, creating momentum for today's gold price to increase dramatically. Gold prices are trying to stabilize above 2,000 USD/ounce. Falling US bond interest rates are supporting world gold prices towards the resistance zone of 2,015 - 2,025 USD/ounce. The highlight of the gold market is the November minutes of the Federal Open Market Committee (FOMC - US) which will be published at the end of November 22. Accordingly, investors will look for more clues about US monetary policy. Currently, inflation and the labor market in the US have cooled, while the country's economic activity shows signs of weakening. Therefore, financial investors increasingly expect the US to reduce interest rates in 2024. At that time, the value of the USD will decline, benefiting world gold prices.
OANDA:XAUUSDLong
by Xayah_trading
Gold: Rehabilitation 🏋️‍♂️The gold price seems to be recovering at the moment and is gradually making significant gains. We expect it to continue its corrective rise within the magenta wave (b) to the same-colored Target Zone between $2123.60 and $2147.10. An important step on this path will be to overcome the high of the magenta-colored wave alt.(x). As long as the price has not succeeded in doing so, the 40% probable alternative remains, which entails a direct descent.
COMEX:GC1!Long
by MarketIntel
XAUUSD Double Top Sell SignalGold (XAUUSD) is failing to break early into today's E.U. session above Friday's High, and that is so far a Double Top. If it holds, it will be a technical rejection sell signal and based on the similarities with the September 01 peak fractal (+3.65% rise, identical 4H RSI patterns), it can complete a drop even a little under the 0.236 Fibonacci retracement level. With the 1D MA50 (red trend-line) involved this time as the long-term Support and the 4H MA50 (blue) and 4H MA200 (orange) each offering its part as Supports the past 10 days, we will put our target a little higher at 1950. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
GOLD prices suddenly increased sharply todayWorld gold prices today (November 21) suddenly increased sharply when inflationary pressures in the US eased and the weak economy began to cool down. Analysts say that the US Federal Reserve (Fed) is not yet ready to change the trend of tightening monetary policy, which is making it impossible for hedge funds to access gold. Gold prices could reach $2,100/ounce despite recent data proving that the strength of the US economy shows signs of cracks. “The growth outlook will weaken significantly” starting in the fourth quarter of 2023 and continuing into the first half of next year. In the context of a recession, the Fed will have to cut interest rates more sharply than the market expected. That is the period when gold begins to set a series of new all-time highs.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Channel Up on 4H.Gold is neutral on its 4H technical outlook (RSI = 55.793, MACD = 4.760, ADX = 31.119) as it reached today the bottom HL trendline of the short term Channel Up. So far it is reacting with a bounce and that is a buy signal, aiming at the R1 level (TP = 2,002), as every rise sequence inside the Channel has been around +1.90%. Today's Low was supported on the 0.5 Fibonacci level also, so if it breaks, the bullish trend will be invalidated and we will sell, aiming at the 4H MA200 (TP = 1,950). Despite the presence of support levels such as the 4H MA50 and S1, in that case we expect the decline to be stronger, a very likely scenario indeed since the 4H RSI displays a Bearish Divergence, similar to the Bullish one that gave the buy signal on November 13th. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
GOLD | Reversing to the downside, support factors still remainMARKET FORECAST AHEAD OF THE WEEK: OANDA:XAUUSD - US Treasury yields have fallen in the past few days, putting pressure on the US dollar - Meanwhile, gold prices breached key technical levels on the way higher - Several high-impact events are expected in the coming days, with a shorter trading week in the US due to the Thanksgiving holiday. US Treasury yields fell sharply last week after lower-than-expected US inflation data coupled with a rise in US unemployment claims all but ruled out the possibility of a central bank The US continues to tighten monetary policy, giving traders the green light to start pricing in more aggressive interest rate cuts. for the next year. The broader US dollar previously fell nearly 2%, with the DXY index sliding to its lowest since early September. Benefiting from falling rates and a falling US dollar, the precious metal rose more than 2%. .0% for the week, moving closer to reclaiming the psychological threshold of $2000. Looking ahead, the US economic calendar will be devoid of important figures in the coming days, with a shorter trading week due to the Thanksgiving holiday. The absence of prominent events could mean a consolidation of recent market volatility, paving the way for a deeper decline in yields and the US dollar. This, in turn, could lead to further price increases for precious metals and risk assets.
OANDA:XAUUSD
by TVS-Trader
1
GOLD reversing to the downside, support factors still remainLast week, the international financial market received a lot of negative employment information and retail sales in the US and UK, causing the USD to continue to decline. Specifically, this morning the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies - decreased by 0.07% to 103,850 points. The USD fell so last weekend investors stepped up their gold purchases. In particular, the world's largest gold trust fund SPDR last week's session bought a net 12.98 tons of gold in the session on November 17 alone. Increased demand pushed world gold prices last week up to 36 USD/ounce, equivalent to about 2% compared to the previous week's closing session. At the beginning of this week, the gold market was lacking economic information, so investors immediately took profits to recover capital and waited for more economic information. The market is lacking economic information, but Russia continues to be subject to new sanctions packages, which could increase geopolitical tensions in Ukraine. This may be a factor supporting the gold market during this period.
OANDA:XAUUSD
by Xayah_trading
GOLD reduced during the weekend trading sessionGold prices opened the session higher thanks to the decrease in the USD index and US Treasury bond interest rates. This is motivating investors to actively buy gold during the uptrend to make profits. According to statistics, the number of Americans applying for unemployment benefits increased more than expected, which helps the US Federal Reserve's (Fed) fight against inflation. Newly released data shows that US producer prices have fallen the most in the past 3 years, while US consumer prices have remained unchanged over the past 10 months. According to the CME FedWatch tool, the gold market is pricing in a nearly 100% chance that the US Central Bank will keep interest rates unchanged in December. Gold is considered an inflation hedge. Interest rates remain high, reducing the appeal of gold bars.
OANDA:XAUUSD
by Xayah_trading
Gold Possible 150+ Pip Short Setuphello traders this is a scenario that i expect for next week for gold keep an eye on fundamentals like fomc coming up. the yellow zones are my areas of interest they are also actually fibbonacci levels the market seems to be respecting them so i am using them i also identified a minor up trend and a downtrend from when the price reached the 2000s. if the price breaks the the yellow zone which serves as a Support + Fib level + Neckline of head and shoulder and also breaks the trendline i believe we will see gold back to the 1960s
EIGHTCAP:XAUUSDShort
by xAB777
GOLD | Breaks Out as Yields Sink, Fed Pivot Hopes BuildOANDA:XAUUSD PRICES OUTLOOK - Gold prices rally and break above technical resistance in the $1,975/$1,980 area - Bullion’s gains are driven by a steep pullback in Treasury yields following disappointing economic data - This article examines key XAUUSD’s levels worth watching in the coming trading sessions Gold prices rose over 1.0% on Thursday due to a decrease in U.S. Treasury yields following disappointing labor market data. Unemployment benefit applications for the week ending November 11 exceeded expectations, while continuing jobless claims reached their highest level in almost two years, indicating challenges in finding employment for Americans. The recent economic indicators, along with the CPI and PPI figures, suggest that the Federal Reserve's tightening cycle is ending and rate cuts may be on the horizon. This has led to lower yields and a potential increase in gold prices if the US dollar continues to weaken. Further economic weakness could prompt a shift in Fed policy. OANDA:XAUUSD PRICE TECHNICAL ANALYSIS Gold prices, measured through futures contracts, took off on Thursday, breaching a key technical ceiling stretching from $1,975 to $1,980. If this breakout is sustained, prices could start consolidating to the upside in the coming days, paving the way for a move toward $2,010/$2,015. Additional gains from here on out might embolden the bullish camp to launch an attack on $2,060. In the event of a bearish reversal, the first line of defense against a downturn is located in the $1,980-$1,975 zone. Although bullion may establish a base in this region on a pullback, a breakdown could trigger a deeper retracement, opening the door for a drop towards cluster support in the $1,950/$1,940 range (several key moving averages converge in this area). Below this floor, the focus shifts to $1,920.
OANDA:XAUUSD
by TVS-Trader
'Cheeky' long from gold's double bottom?We've found an interest setup on gold's 1-hour chart. A double bottom has formed just above the weekly pivot point, with a slightly higher low forming a bullish engulfing candle. Moreover, the cycle low was seen on high volume and strong negative delta (far more sellers than buyers on that 1-hour candle). And this suggests bears could be trapped around that cycle low, and could be forced to close and send prices higher, if prices fail to breakdown or move higher from here. The bias is bullish above the 1945.5 and looking for a run to 1965 or 1970. Take note of the daily shooting star candle, but for now the path of least resistance appears higher over the near-term.
FX_IDC:XAUUSDLong
by CityIndex
GOLD soaring high as unemployment increasesPrecious metal prices rebounded as US Treasury bond yields fell and inflationary pressures in the US were easing. US CPI remains unchanged in October 2023. US PPI also fell the strongest in three years. Previously, the Fed decided to keep the basic interest rate unchanged. However, US policymakers left open the possibility of raising interest rates later this year and implementing monetary policy throughout 2024 will be tighter than expected. Investors are still concerned about a series of short-term risks, making an economic "soft landing" impossible. The US House of Representatives has passed a temporary spending bill to avert a government shutdown, with broad support from lawmakers.
OANDA:XAUUSDLong
by Xayah_trading
GOLD | Gain On More Signs Global Inflation Rolling OverOANDA:XAUUSD PRICE, ANALYSIS, AND CHARTS - UK CPI came in at a two-year low for October - The Core measure also ticked lower - Gold prices are closing back in on $2000 Gold prices rose in Wednesday's European session as the UK joined developed economies experiencing a decrease in inflation. Official data showed a two-year low of 4.6% in annual headline consumer price rise for October, down from 6.7% the previous month. The core inflation measure, which excludes fuel prices, also decreased to 5.7% from 6.1%. Similar numbers from the US indicated reduced price pressures, further boosting gold. US factory gate prices declined on Wednesday, but their effect on financial markets is less significant. Investors are increasingly optimistic that the fight against inflation has been successful, as central banks around the world have raised interest rates. Market participants are anticipating potential interest rate cuts in the first half of next year. Despite being considered an inflation hedge, gold has struggled due to rising borrowing costs. Investors have been turning to bond markets for better returns, leading to a decline in gold and other non-yielding assets. However, weaker inflation figures can still boost the value of gold and riskier investments like equities. The markets may be getting ahead of themselves, but inflation remains high in many countries. Interest rates will likely stay the same until inflation decreases. It's important to remember that inflation can be hard to control and may not fade away as quickly as expected. Gold prices are currently favorable due to geopolitical tensions in Ukraine and the Middle East. The Eurozone's final core CPI rate, expected to decrease from 4.5% to 4.2%, will be closely watched by the gold market. OANDA:XAUUSD PRICES TECHNICAL ANALYSIS Gold has now seen a strong, three-day bounce from the $1935/ounce level. It’s as well for the bulls that that level held, as the chart above shows that a move below it would have put the previously dominant downtrend channel uncomfortably close to the market. However, it remains comfortably far off, at $1883.70, a level that now provides support. For now, the $1935 region remains as a likely near-term prop, with the psychologically important $2000 resistance mark in the bulls’ immediate sights. But there’s clearly no sign of overbuying at this point, suggesting that the rally could have enough strength to get back to $2000 and, possibly up to late October’s peak of $2009. November 3’s daily close just above $1993 is probably the next key resistance level for the metal.
OANDA:XAUUSD
by TVS-Trader
3
GOLD easing pressure from the USDDespite a slight decrease, experts still predict the future of gold prices optimistically. World gold price stood at 1,958 USD/ounce, down slightly by 5 USD/ounce compared to the same hour yesterday morning. This morning, the US Dollar Index increased 0.4% and the 10-year US Treasury bond yield recovered, putting downward pressure on gold prices. However, precious metal prices still remain at their highest level within the past week. Gold is anchored at a high price because countries are still promoting gold imports and increasing their reserves of this precious metal. China currently holds at least 33,000 tons of gold, many times the figure of 2,215 tons given by the World Gold Council and double the US level of 16,500 tons. CPI data from the US was lower than forecast, supporting gold prices. Expectations that in the fourth quarter, inflation will cool down even more. This will weaken the USD and push up gold prices. In the next 6 months, we forecast prices towards 2,100 USD/ounce. With yields rising again, gold will fall after the initial rally. The outlook will remain positive for the asset (gold) but more caution is needed. However, this upside could be limited as concerns about an escalation of the war in Gaza have faded that had fueled a rise in safe-haven appeal over the past month.
OANDA:XAUUSD
by Xayah_trading
XAUUSD Retracement almost completed. Sell opportunity.Gold (XAUUSD) took advantage of the lower than expected U.S. CPI and rose aggressively back above both the Channel Down and the 4H MA50 (blue trend-line) but not before hitting our Lower Low target within the Channel Down (see chart below): Even though this rise is more based on fundamentals than technicals, the price is approaching the 0.618 Fibonacci retracement level where the previous Channel Down break-out formed a top and reversed (September 01 2023). If fundamentals continue to influence the market more, then we might see Gold rise a little more, until the 4H RSI gets close to 80.00, but the upside is limited. You can start selling with a first short-term target the 0.236 Fib ay 1947.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
2
GOLD | US Dollar Freefalls After CPI IndexUS DOLLAR, PRICE FORECAST OANDA:XAUUSD - The US dollar fell as yields fell following lower-than-expected US inflation data - Gold prices hit key technical levels in both cases US Treasury yields fell sharply on Tuesday after weaker-than-expected US consumer price index data reduced the likelihood of further tightening by the central bank and weakened its ability to keep interest rates at high levels for long periods of time. The move in the fixed income space has left the broader US dollar reeling, with the DXY index falling more than 1.5%, its worst daily performance since November 2022. Against this backdrop, The euro and the British pound broke out to the top, hitting multi-week highs against the greenback. Gold prices also posted solid gains and attempted solid consolidation, a bullish technical signal. With traders declaring victory in the fight against inflation and predicting sharp interest rate cuts in 2024, recent market moves could gain traction and consolidate in the near term . This could mean further falls in yields and the US dollar, along with additional gains in precious metals and stocks. TECHNICAL ANALYSIS OANDA:XAUUSD After a few days of weakness, gold performed a bullish reversal on Tuesday, bouncing off cluster support at $1,940/$$1,950. If the price successfully builds on this upward momentum, initial resistance lies at $1,975/$1,980. A break above this ceiling could open the door for a rally to $2,010/$2,015. Conversely, in case sellers regain control of the market, the main support level will extend from $1,950 to $1,940. While gold could establish a base within this range during a pullback, a break could set the stage for a drop to $1,920, followed by $1,900.
OANDA:XAUUSDLong
by TVS-Trader
GOLD keep going upToday's world gold price listed on Kitco is at 1,962 USD/ounce, up 12 USD/ounce compared to early yesterday morning. Precious metal prices continued to increase in the context of the USD falling quite quickly from 105.7 points to 104.8 points at the beginning of the trading session on the US market. Besides, the US consumer price index remained unchanged in October and core inflation showed signs of slowing down. CPI increased by 3.2% compared to the same period last year. This level in September was 3.7%. According to the CME FedWatch tool, after the inflation report was released, the market predicted a 100% chance that the US Central Bank would keep interest rates unchanged in December compared to 86% before the inflation report.
OANDA:XAUUSDLong
by Xayah_trading
GOLD | Very sensitive to the upcoming CPI reportOANDA:XAUUSD , NASDAQ 100 FORECAST - Gold prices and Nasdaq 100 will be very sensitive to the upcoming US inflation report - The US Bureau of Labor Statistics will release October consumer price index data on Tuesday - Headline CPI is forecast to increase 0.1% month-on-month and 3.3% year-on-year. Meanwhile, the core index is expected to come in at 0.3% monthly and 4.1% annually The US Bureau of Labor Statistics will release consumer price index figures on Tuesday morning. With the Federal Reserve so sensitive to incoming information and aware of the risk of rising inflation, the latest CPI report will carry more weight in the eyes of financial markets. This could mean more volatility in gold and Nasdaq 100 prices in the coming trading sessions. In terms of estimates, headline CPI is forecast to rise 0.1% on a seasonally adjusted basis in October. This would push the annual rate to 3.3% from 3.7% previously. Meanwhile, the core gauge, which excludes food and energy, is forecast to rise 0.3% on the month, with the related 12-month index unchanged at 4.1%. UPCOMING DATA The Fed took a data-focused stance and noted it would “proceed carefully.” Despite this cautious approach, the organization has not completely closed the door on additional policy consolidation, with Chairman Powell indicating that officials are not confident that they have reached a sufficiently restrictive stance To bring inflation back to 2.0% and further progress in reducing price pressures is needed. Not guaranteed. Taken together, Powell's comments suggest that the FOMC is not following a predetermined path and is prepared to respond appropriately to adverse developments that could hinder the implementation of its mandate. Against this backdrop, any deviation of the October CPI figure from consensus expectations could prompt policymakers to advocate another rate hike at one of the upcoming meetings of the Federal Reserve. Surname. FOMC MEETING PROBABILITY If interest rate expectations change to be more hawkish due to the hot CPI report, US interest rates will rise, boosting the US dollar. This, in turn, could put downward pressure on gold, Nasdaq 100. The opposite is also true; An unexpected surprise in last month's inflation data would support precious metals, tech stocks by capping yields and weakening the argument for higher prices for longer. TECHNICAL ANALYSIS OANDA:XAUUSD Gold has reversed losses this month after failing to reach a key ceiling in the $2,010/$2,015 area. If the price turns bullish and consolidates decisively above this technical indicator, initial resistance will emerge at $1,980, followed by $2,010/$2,015. On the other hand, if sellers reappear and reignite bearish pressure, the initial floor to watch would lie at $1,935. While gold could gain a foothold in this zone on the downside, a violation of the downside could send gold down to $1,920. Below this threshold, attention turns to $1,900.
OANDA:XAUUSD
by TVS-Trader
GOLD waiting for a chance to reverseToday's world gold price listed on Kitco is at 1,946 USD/ounce, up 7 USD compared to early yesterday morning. Precious metals inched up slightly as investors waited for US inflation data this week to evaluate the interest rate roadmap of the US Federal Reserve (Fed). If data shows higher-than-expected inflation, gold is likely to fall again as that increases the likelihood of another interest rate hike, experts said. However, if the data is right, gold could trade at $1,950. Gold fell 3% last week and lost more than $60 as safe-haven demand cooled and as Fed Chairman Jerome Powell's hawkish comments pushed back any expectations of interest rate cuts.
OANDA:XAUUSDLong
by Xayah_trading