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Gold price approaches $3000The US Federal Reserve (Fed) recently decided to loosen monetary policy after 4 years, by reducing interest rates by 50 basis points (0.5%), to 4.75-5%. This agency emphasized that it is "always ready to adjust monetary policy if risks arise". Fed officials forecast the reference interest rate to decrease by another 0.5% by the end of this year and 1% next year. In 2026, they will reduce the interest rate by another 0.5% to 2.75-3%. However, gold quickly fell, now at $2,556/ounce, just about the same as today. The gap between domestic and international gold prices is about VND5.4 million/tael. Currently, investors are waiting for comments from Chairman Jerome Powell for more information on the main presentation. Robert Minter, chief investment strategist at Abrdn, said that in this new holiday, it is only a matter of time before gold surpasses $3,000/ounce .
TVC:GOLDShort
by FalCol_TradingMaster
Gold prices increase sharply when economic instability occursIn light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective Gold prices rose sharply during this period, rising from about $350 an ounce in early 2003 to more than $700 an ounce by mid-2006, an increase of about 100% in just over three years. The positive performance during this time could be a combination of many factors. Rising inflation has created demand for gold as a complete hedge, and because the pace is only increasing gradually, the opportunity cost of holding gold remains relatively low. As of early September, the Fed is warning of the possibility of cutting interest rates while still reaching standard levels. This environment could be beneficial for gold, similar to the 2003-2006 period.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Investors are worried that the Fed only reduced it by 25 pointsWorld gold charges became down with spot gold down thirteen USD to 2,570 USD/ounce. Gold futures closing traded at $2,596.30 an oz, down $12.60 from the brilliant spot. Pressured with the aid of using a rebound withinside the greenback and a moderate upward thrust in Treasury bonds, the yellow metallic misplaced 0.5% after conquering an all-time excessive of $2,589.50 an oz early withinside the day. week. Currently, buyers are nevertheless awaiting facts on whether or not the United States Federal Reserve (Fed) could have a coverage pivot at this assembly as expected. After a chain of membership facts, monetary markets are forecasting a more potent Fed in its first hobby price reduce for the reason that 2020. According to the CME FedWatch tool, the marketplace is already assured withinside the opportunity of a tapping fundamental foreign money with a 63% mission discount might be 50 foundation points. 💎 OANDA:XAUUSD Buy 2558 - 2556💎 ✔️TP1: 2570 ✔️TP2: 2580 ✔️TP3: OPEN 🚫SL: 2548 💎 OANDA:XAUUSD Sell 2585 - 2587💎 ✔️TP1: 2570 ✔️TP2: 2560 ✔️TP3: OPEN 🚫SL: 2595
OANDA:XAUUSDLong
by FalCol_TradingMaster
It's all about the FedWorld gold price trades weekly at 2,577 USD/ounce. Gold futures price in December 2024 is trading at 2,606 USD/ounce. The US Federal Reserve's (Fed) interest rate decision will be the main focus of the market this week. Fed Chairman Jerome Powell's speech at the Jackson Hole Conference at the end of August confirmed that the Fed will make a decision on interest rates at its next meeting on September 18. The US Central Bank kept the main lending interest rate unchanged at the highest level in two decades, from 5.25-5.5% over the past 14 months. Major commentators, the labor market is hot and the US economy continues to grow, policymakers have determined it is time to cut interest rates. The market is pricing 55% interest rates in the US will decrease by 25 basis points and 45% interest rates will decrease by 50 basis points in the next few days. 💎 TVC:GOLD Buy 2544 - 2546💎 ✔️TP1: 2560 ✔️TP2: 2580 ✔️TP3: OPEN 🚫SL: 2536 💎 TVC:GOLD Sell 2595 - 2597💎 ✔️TP1: 2580 ✔️TP2: 2560 ✔️TP3: OPEN 🚫SL: 2605
TVC:GOLDShort
by FalCol_TradingMaster
The first threshold surpassed 2,600 USD/ounce.Market are pivoting their interest to subsequent week`s Federal Open Market Committee (FOMC) meeting. This collecting is poised to be one of the year's maximum consequential, with full-size anticipation of the primary hobby price reduce on account that 2020. The consensus amongst analysts, economists, and marketplace observers is that a price discount is all however certain. markets are presently pricing in a 73% danger of a 25 bps reduce and a 27% danger of a 50 bps reduce, consistent with CME FedWatch. Early this week AngloGold Ashanti introduced it's far obtaining Egypt-targeted Centamin for $2.five billion in coins and stock. Anglogold dropped at the news, however recovered via way of means of the stop of the week.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Forecasts suggest that the Fed will decrease by 25 pointsTaking advantage of the opportunity is still there, says RJO Futures senior market strategist Bob Haberkorn. If the Fed decides to reduce it by 50 points, it would mean that the Central Bank of America is surrendering its ability to play. The results of the Reuters visit showed that most participating economists think the Fed will lower interest rates by 25 basis points at each of the remaining main meetings in 2024. The poll showed that only 9 of the 101 economists expect a half-percent cut next week. Independent metals trader Tai Wong said that the rise in core CPI has more or less reinforced the possibility that the Fed will proceed with a 25 basis point cut next week. Gold prices may have to wait a little longer to reach new record highs. 💎 TVC:GOLD Buy 2485 - 2487💎 ✔️TP1: 2500 ✔️TP2: 2510 ✔️TP3: OPEN 🚫SL: 2480 💎 TVC:GOLD Sell 2525 - 2527💎 ✔️TP1: 2510 ✔️TP2: 2490 ✔️TP3: OPEN 🚫SL: 2535
TVC:GOLDShort
by FalCol_TradingMaster
The market is now paying attention to some US producer pricesWorld gold prices reversed and decreased slightly with spot gold down 5.9 USD to 2,511.8 USD/ounce. Gold futures last traded at $2,540.30 an ounce, down $5.60 from the bright spot. Expectations for an interest rate cut at next week's main meeting decreased somewhat after the consumer price report put upward pressure on gold, causing the precious metal to lose 0.2% on the day. Accordingly, the latest report found that consumer prices in the US increased slightly in August, but underlying utilization remained stable, which may make the US Federal Reserve (Fed) unable to decided to reduce 50 basis points next week. 💎 OANDA:XAUUSD Buy 2485 - 2487💎 ✔️TP1: 2500 ✔️TP2: 2510 ✔️TP3: OPEN 🚫SL: 2480 💎 OANDA:XAUUSD Sell 2522 - 2525💎 ✔️TP1: 2510 ✔️TP2: 2500 ✔️TP3: OPEN 🚫SL: 2533
OANDA:XAUUSD
by FalCol_TradingMaster
Gold prices are more unpredictable than everThe first week of September culminated in the US jobs report for August. Non-farm payrolls for the US economy increased by 142,000 jobs, up from 114,000 in July, although weaker than the market median estimate of 160,000 (Reuters). US Treasury yields and the US dollar (USD) fell on the news; markets also priced in a 120 basis point cut by the end of the year and nearly 40 basis points for this month's meeting. Average hourly earnings also rose sharply in August, up +0.4% (MoM), improving on the market period (+0.3%) and the +0.2% increase from the previous release in July. YoY, average hourly earnings rose +3.8% YoY in August, also improving on both the favorable data (+3.7%) and the previous data (+3.6%). With the economy now balanced and on track to grow at 2%, it is now time to ease the policy setting regime by reducing the target range for the federal funds rate,' he said, but did not comment on whether he would support a 25 or 50 basis point cut.
OANDA:XAUUSD
by FalCol_TradingMaster
Gold is overhyped ? Nonfarm 9/6/2024Gold's risks this week will be the ADP jobs and unemployment claims report and the nonfarm payrolls report. StoneX analyst Rhona O'Connell said bullion was also under pressure from weak global equities. However, O'Connell believes that the precious metal price trend is still upward and these losses are only corrective. This year, gold has had an impressive performance and is up more than 20%. On August 20, this precious metal reached an all-time high of 2,531.6 USD/ounce. Kinesis Money market analyst Mike Ingram has raised his forecast for the yellow metal's resistance above $2,510 an ounce, and he expects the price to break the $2,543 an ounce mark soon. Talking about gold fluctuations in the near future, Natixis precious metals analyst Bernard Dahdah predicts that gold prices will average about 2,600 USD/ounce by 2025. With stable domestic gold prices and world gold prices listed at Kitco at 2,496.4 USD/ounce (equivalent to nearly 75.2 million VND/tael if converted at VCB exchange rate, excluding taxes and fees) , the difference between domestic gold and world gold is huge. Price is about 5.8 million VND/tael.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Banks buying gold slows down gold price declineWorld gold prices move sideways amid strong USD index. Recorded at 9:20 a.m. on September 4, the US Dollar Index measuring the greenback's fluctuations against 6 major currencies was at 101,607 points. According to Kitco, in the first sessions of the week, world gold prices fell sharply, causing investors to panic right before a busy week with US economic reports. Central financial institution gold purchases doubled in July. Global valuable banks delivered 37 tonnes to their reputable reserves, a 206% increase. "In total, seven valuable banks delivered extra gold (a tonne or extra) to their reserves in July. Only one valuable financial institution decreased its holdings" 💎 OANDA:XAUUSD Buy 2481 - 2479💎 🔰TP1: 2490 🔰TP2: 2500 🔰TP3: OPEN 🚫SL: 2471 💎 OANDA:XAUUSD Sell 2498 - 2500💎 🔰TP1: 2490 🔰TP2: 2480 🔰TP3: OPEN 🚫SL: 2508
OANDA:XAUUSDShort
by FalCol_TradingMaster
The market is expecting the US to reduce interest rates.World gold costs improved no matter the quantity of USD recovered. Recorded at 9:forty five a.m. on August 28, the United States Dollar Index measuring the fluctuation of the dollar with 6 principal currencies changed into at 100,575 points (up 0.12%). The new rate of gold discussion board improved amid enhancing person sentiment. The US client self belief index in August painted an positive picture, growing to 134.four from 133.1 in July. The catalyst for the weak spot of the USD/ounce may also originate from the cease of June whilst worries started to shape across the US Federal Reserve`s (FED) cappotential to pivot to normalizing hobby rates. . This sentiment changed into bolstered via way of means of Fed Chairman Jerome Powell's current speech on the Economic Symposium in Jackson Hole, Wyoming. Those who spot Powell's overall performance certainly verify that the technology of sturdy hobby gains, which started in March 2022, is over, with the primary bearish take advantage of probably to take vicinity in September this year. ✅ OANDA:XAUUSD BUY 2504 - 2501💲 ➡️TP1: 2510 ➡️TP2: 2520 🚫SL: 2490 ✅ OANDA:XAUUSD SELL 2516 - 2519💲 ➡️TP1: 2500 ➡️TP2: 2490 🚫SL: 2530
OANDA:XAUUSD
by FalCol_TradingMaster
2
Low interest rate environments tend to boost gold's appealWorld gold prices increased slightly with spot gold increasing by 3.2 USD to 2,518.6 USD/ounce. Gold futures last traded at $2,553.90/ounce, up $4.30 from yesterday morning. World gold prices continue to maintain their recent record high thanks to support from the weakening of the USD and increased expectations that interest rates will be cut at the September meeting after the balance statement from Chairman of the US Federal Reserve (Fed) Jerome Powell. According to UBS analyst Giovanni Staunovo, Mr. Powell sent a strong signal about providing monetary policy at the end of the third quarter. The president of the most powerful central bank in the world is also strong, the speed and process of cuts will depend on the upcoming economic material. ✅ OANDA:XAUUSD SELL 2523 - 2528 ✔️TP1: 2515 ✔️TP2: 2500 💥TP3: OPEN 🚫SL: 2536 ✅ OANDA:XAUUSD BUY 2503 - 2500 ✔️TP1: 2515 ✔️TP2: 2530 💥TP3: OPEN 🚫SL: 2494
OANDA:XAUUSD
by FalCol_TradingMaster
The market is reacting too positively to interest rate cutsExperts are expecting that the unsure country of the worldwide economic system and the Fed`s pass to reduce hobby charges will push gold expenses to new file highs this year. Kitco News' trendy weekly gold survey has decided on many specialists and retail buyers who agree with that gold will hold to reinforce its new file. Mr. Alex Ebkarian, CEO of Allegiance Gold Company (USA), stated that with the expectancy of reducing hobby charges, the gold rate will growth to 2,six hundred USD/ounce. Sharing the equal opinion, Phillip Streible, Chief Market Strategist at Blue Line Futures, stated gold expenses may want to growth to a brand new rate of 2,six hundred USD/ounce earlier than the marketplace witnesses promoting stress to take profits.
OANDA:XAUUSDShort
by FalCol_TradingMaster