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Tradingdaq | GOLD Market Daily Technical AnalysisThe gold market OANDA:XAUUSD has been oscillating between 2,700 and 2,620, and the support price of the 2,620 area has been retested again. The fluctuating trend of gold in this pilot region can be attributed to the robust performance of XRP, which recently built on correlation as a digital gold in the altcoin market. If the Gold price increases and a bullish candle again closes above 2,620, my first target will be 2,646. On the other hand, If the price decreases and a bearish candle closes below 2,610 and keeps below 2,595, I strongly recommend watching it and waiting for a new analysis for the changing price range.
OANDA:XAUUSDLong
by iamtradingdon
Analysis of the Downward Trend in Gold Prices This WeekGold prices remained stable above $2,600 in the past week, primarily supported by increasing geopolitical tensions. However, after Donald Trump's victory in the U.S. presidential election, gold still faced pressure to limit its price increase, as the U.S. dollar is expected to be supported by Trump's win. Regarding gold's recent recovery, after the release of the U.S. Personal Consumption Expenditures (PCE) data earlier this week, which met expectations, market anticipation for a Federal Reserve rate cut in December has risen, driving gold prices higher. Currently, the market is pricing in about a 66% chance of the Fed cutting interest rates by 25 basis points in December, a significant increase from just over 50% a week ago. Geopolitical tensions in Europe, caused by Russia's missile attack on Ukraine, have also provided support for safe-haven assets like gold. The Israeli military announced on Thursday that their air force had struck a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as both sides accused each other of violating the ceasefire agreement. On Thursday, Russia launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country. Gold OANDA:XAUUSD is generally seen as a safe investment during periods of economic and geopolitical instability. Gold prices have dropped about 3% this month, hitting a two-month low on November 14. This is mainly due to the strengthening U.S. Dollar since Trump's election, and his tariff policies, which are seen as likely to push inflation higher, thus slowing down the Federal Reserve’s rate-cutting cycle. Next week, the U.S. will release key economic data, including job openings, ADP employment reports, and non-farm payrolls, which could provide direction on the Federal Reserve's policy outlook. Important Economic Data to Watch Next Week Monday: ISM Manufacturing PMI Wednesday: ADP Employment Report, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit Thursday: Weekly Jobless Claims Friday: U.S. Non-Farm Payrolls Report, University of Michigan Preliminary Consumer Sentiment Technical Outlook for XAUUSD (Gold Price) Gold is attempting to recover but remains limited by the 50% Fibonacci level and the EMA21, as pointed out in yesterday's publication. In terms of overall structure, gold still leans towards a bearish outlook, with the main trend indicated by the price channel (a) and resistance from the EMA21. The Relative Strength Index (RSI) has also not yet surpassed the 50 level. Therefore, in terms of trend and momentum, gold is more likely to face downward pressure rather than rise. As long as gold stays within the price channel (a), it does not meet the technical conditions for a long-term price increase, so any rallies should be viewed as short-term recoveries. In the short term, if gold drops below the 0.618% Fibonacci retracement level, the next target for a decline would be around the $2,600 level. In conclusion, the technical outlook for gold on the daily chart is bearish, with the following key levels to watch: Support: $2,634 – $2,606 – $2,600 Resistance: $2,663 – $2,693 However, traders must note that in the context of geopolitical conflicts, technical structures can be broken very quickly due to sudden, impactful events. Therefore, the risk will be higher in the short term. This concludes the article. Henry wishes for a healthy, joyful, and happy weekend.
OANDA:XAUUSDShort
by Henrybillion
1
The focus of the gold market recentlyThe focus of the gold market recently has been developments in the United States after Donald Trump won the 2024 presidential election. In a short period of time, the future cabinet list was announced with all candidates. is considered to have impressive achievements. In addition, Mr. Donald Trump pledged to sharply increase taxes on America's three largest trading partners, including Canada, Mexico and China. Economists say Mr. Trump's overall tariff plans could be the most damaging economic policy, causing inflation and reorganizing global supply chains. According to experts, the short-term gold market is difficult to predict. However, fluctuations in gold prices create buying opportunities for investors. Regarding the medium-term trend, Colin Cieszynski, expert at SIA Wealth Management, believes that the support price of 2,600 USD/ounce of gold will still be maintained and will tend to increase from there. Gold's resistance level is 2,690-2,720 USD/ounce. The gold market is unlikely to have a strong breakthrough in the near future. 🔥 GOLD BUY 2627 - 2625🔥 💵 TP1: 2640 💵 TP2: 2650 💵 TP3: OPEN 🚫 SL: 2618
TVC:GOLDLong
by FalCol_TradingMaster
Gold is in the bullish directionHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexMasters2000
GOLD SPIKES AMID Gold spikes amid tensions but can't shake off weekly losses☄️ ➡️Gold gains 0.67% in late session, but geopolitical strife keeps it above $2,600 despite monthly losses. Escalation in Russia-Ukraine conflict and Middle East tensions underline Gold's safe-haven appeal. Market optimism grows for a 25 bps Fed rate cut in December, bolstering Bullion’s short-term prospects. ➡️Gold's price advanced late during the North American session on Friday, up by 0.67%, yet it remains set to print monthly losses of over 3%. Geopolitical risks continue to drive price action with the non-yielding metal fluctuating at around $2,600. The XAU/USD trades at $2,652 after hitting a daily low of $2,634. ➡️Geopolitical tensions eased in the Middle East after Israel and Lebanon agreed to a ceasefire. Nevertheless, both countries accused each other of violating the agreement.
OANDA:XAUUSDLong
by SadarExplore
Gold Short Term Analysis December 1stI discussed more of the fundamentals that have impacted the Gold price in my long-term analysis post and how this might play out leading up to Trump's inauguration. In this post I wanted to look at some interesting technical insight that emerged late in Friday's trading session. We saw Gold drop from a high of around 2721 at the start of the week in the NY session as news of the Israel Hezbollah ceasefire filtered through and Scott Bessant as Trump's pick for Treasury Secretary was parsed by the markets. Looking at the Fib retracement levels established following that dip, the recovery in the Gold price has found resistance at each level. I've been playing with LuxAlgo's Smart Money suite of indicators and, in particular, the Fair Value Gap (FVG) and Structure indicators. This has provided some interesting price action insights in the later half of this week. We saw the Asia/London session on Friday send the Gold price up to 2665 with two notable FVGs develop on the 1H chart. The second of these overlapped a Break of Structure (BOS) in the uptrend and the 38% Fib level leaving a liquidity gap in the process. The NY session saw a retracement back to this level as the Fair Value gap was closed. This appears to be a strong indicator of resistance at arounf the 2650 level and a likely sign of a rebound when trading resumes on Monday. With little significant economic news next week, lower yields and US dollar and an increased likelihood of a US rate cut in December it appears that the Gold Price is primed to rise in short-term trade. If the price stays above 2650 into the Asian session this should prove to be a good entry for a long trade with fib levels at 2660, 2677 and 2693 offering useful TPs for anyone looking to play along.
OANDA:XAUUSDLong
by dgowty
Gold Becomes the Second Largest Central Bank Reserve AssetGold's importance as a reserve asset for central banks is on the rise According to Bank of America, gold has now overtaken the euro to become the second largest reserve asset, To be more precise, B of A should have specified that it is the eastern hemisphere Central Banks that are diversifying out of the U.S. dollar and the euro and buying gold and yuan. Currently, gold accounts for 16% of global bank reserves, while the dollar has dropped to about 58%, down from over 70% in 2002. Poland emerged as the largest buyer of gold in the second quarter of this year (though the specific amount purchased by China's PBoC remains undisclosed). Additionally, Poland is requiring that the gold it acquires be delivered directly to its Central Bank, rather than being stored by London banks. Turkey is another significant gold purchaser, and several African nations have also announced plans to increase Central Bank gold reserves. While it may not happen immediately, there’s potential for gold to surpass the dollar as the top reserve asset, especially if the BRIC nations and other Eastern hemisphere countries go forward with their rumored plans for a gold-backed trade currency. A BRICS Summit will be held in Kazan, Russia, from October 22nd to 24th, where discussions on a new trading currency may take place, though this has not been officially confirmed. On September 5th, Russia announced plans to ramp up its daily gold purchases from $13.5 million to $93 million (1.2 billion rubles to 8.2 billion rubles) for the next month, using surplus revenue from oil and gas. This information was reported by the Russian news agency, Interfax. This move seems to align with the potential development of a BRICS gold-backed trade settlement currency, or even a broader gold-backed currency system. I raise this point because the U.S. Federal Reserve is in a difficult position. It’s facing immense pressure from the market and Wall Street to reduce interest rates, but doing so could trigger a sharp decline in the value of the dollar. The chart referenced above shows a 5-year daily performance of the US dollar index, with the dollar currently testing the 100 level—a key technical support since early 2023. If the Federal Reserve begins cutting interest rates, it's highly likely the dollar will fall to 90, a level last seen in mid-2021. This decline would likely push gold prices toward $3,000 and silver toward $50. A weakening dollar presents several challenges. First, it could accelerate the reduction in the dollar's role as a reserve asset for global central banks. Even more concerning for the US, a depreciating dollar coupled with lower interest rates would make it harder to attract foreign investment to finance additional Treasury debt, a challenge that is already becoming evident. Additionally, the Fed is aware that inflation is running higher than what is reported by the CPI. Reducing rates will further drive real interest rates deeper into negative territory. While the official CPI suggests real rates are positive, using more comprehensive measures like the Shadow Stats Alternative CPI, real rates are currently at -3% using the 1990 CPI method and -6% based on the 1980 version. Negative real interest rates fuel price inflation, contributing to its persistence. Cutting rates further would likely intensify this inflationary pressure. This is one reason gold has been reaching new all time highs almost daily since the Fed cut rates earlier this month. Silver, similarly, is on the verge of breaking into the high $33 range. Precious metals markets are anticipating more than just optimistic Fed rhetoric about a strong economy and lower inflation; they are also predicting a potential return to money printing policies
OANDA:XAUUSDLong
by moonypto
GOLD INTARDAY CHART UPDATESThe gold market is currently in a consolidation phase, with prices trading within a narrow range. Investors are carefully monitoring key economic indicators, including inflation data, interest rate expectations, and geopolitical developments, to gauge the metal's next trajectory. Amid uncertainty in broader financial markets, gold remains a focus for those seeking a balance between safe-haven assets and potential volatility. Analysts suggest that a breakout could occur soon, depending on upcoming macroeconomic events and shifts in market sentiment.
OANDA:XAUUSD
by SadarExplore
The US has begun to enter a cycle of lowering interest rates.Currently, the world is witnessing the monetary tightening cycle coming to an end. Many countries, including the US, have begun to enter a cycle of lowering interest rates. Minutes of the US Federal Reserve (Fed) published on the night of November 26 (Vietnam time) mentioned that the US needs to gradually lower interest rates. However, it also recorded signs of Fed Chairman Jerome Powell losing control, with board members uncertain about what the long-term interest rate target will be. Market signals show that there is a nearly 60% chance that the Fed will reduce interest rates for the third consecutive time at its meeting in December. In 2025, the Fed will also likely reduce a few more times. The USD will be under downward pressure even though the US economy is expected to improve after Mr. Trump takes office. Gold prices will likely continue to be supported and maintain an uptrend lasting from the end of 2023 until now. Most experts forecast that gold is still in an uptrend. However, this commodity is likely to continue to fluctuate strongly as the world becomes increasingly complex. Mr. Trump's policies and policy statements may continue to impact markets, causing commodity prices to fluctuate sharply.
TVC:GOLDShort
by FalCol_TradingMaster
Will gold continue to rise? For now, can gold continue to rally next week? Will there be a new rise? The answer is, of course! Remember, continuity is the key to an uptrend anyway, and look at crude oil to see what rhythm is. Fundamentals from the overall pattern, risk aversion has not subsided, gold is still in an upward pattern. The current plate technical point of view, last week's weekly line big Yin and this week's weekly line big Yang echo, rise and fall are also 150 dollars range, the only difference lies in a negative line, a positive line. This week's pull up broke the weekly four consecutive Yin closed a big Yang column, the solid effectively stabilized the upward channel, and closed above the short-term weekly average, the intensive support on the cycle average line is more prominent, the cycle index also maintained upward, weekly long strong; Therefore, weekly deep V reversal, superpose daily 5 even Yang, a little bit in the long run must be to test the previous high 2785-2790, this position may directly break through, may also be regress after the adjustment to break through. Either way, the direction is up, so the trading mind only needs to be long, and a pullback is an opportunity to be long. This is also evidenced by our continued bullish thinking this week. Detailed trading strategies will be updated later, so join me in the discussion
TVC:GOLDLong
by Boooooob
1
GOLD LONG-TRADE SETUP - NOV 26🚨 Gold Trade Setup – Nov 26 🚨 Hey Traders! Check out our latest setup for FX:XAUUSD XAUUSD (Gold). 🟡 Here's what you need to know: 📌 Trade Plan: We’re waiting for tomorrow’s market sentiment and report outlook before triggering a market order. No pending orders for now. 📈 Buy Conditions: Price must break above $2640 with a clear candle close to confirm trend continuation. 💡 Key Insights: Current structure suggests a short-term breakout and retest, likely followed by a continuation of the bullish trend. Be cautious of any perceived sell setups—they may just be bearish traps, especially with the 38.2% Fibonacci SR holding strong. Fundamentals remain strongly bullish for Gold. 📊 Action Step: Recreate the setup on your chart, place alerts, and be ready for tomorrow’s confirmation. Let’s trade smarter, not harder! 🚀 Cheers, and happy trading! 🫡✨
FX:XAUUSDLong
by niclaxfx
World gold prices recovered this morningWorld gold prices recovered this morning due to increased bottom-fishing demand after this commodity fell from 2,720 USD/ounce last week to near the important support level of 2,600 USD/ounce on the afternoon of November 26. . Currently, investors are waiting for the minutes of the November FOMC meeting of the US Federal Reserve (FED) to get more information about the upcoming US monetary policy, thereby determining the direction of gold in the future. coming days. Darin Newsom, senior market analyst at Barchart.com, said that gold prices may experience short-term downward adjustments. However, in terms of long-term vision, he believes that this precious metal will continue to increase in price. Managing Director at Bannockburn Global Forex Marc Chandler also believes that it is likely that gold will continue to rise back to the record high set at the end of October and that a price increase to $3,000 by 2025 is inevitable. have basis. 🔥 TVC:GOLD SELL 2646 - 2648🔥 💵 TP1: 2630 💵 TP2: 2610 💵 TP3: OPEN 🚫 SL: 2656
TVC:GOLDShort
by FalCol_TradingMaster