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XAUUSD - GOLD Next Target 1717 AlertSince I have shared all about GOLD. It's main trend is down and still moving down, so you have to just follow a simple logic that price will go up and fall back, just see candlestick where it's forming a strong signal towards down just pull your trade. Still there is no such mark of uptrend in news or anywhere. I think it will take inverse in next month or November as per FED action. Here there are 2 possibility, it can move to resistance 1752 then reverse or just hit bottom trend line and come back. Trade wisely! So let's make it possible and take gold to 1700 and still below. Good luck If you like our idea follow our page and other social media.
TVC:GOLDShort
by ProTradingPoint
GOLD VS USD - The Relationship Between Gold and the US DollarGold vs. the US Dollar Today, while governments maintain hoards of this yellow metal, none uses it to back their paper money. Gold is usually denominated in U.S. dollars. Therefore, there is a relationship between the price of gold and the dollar, in that there can be an effect on gold prices as the value of the dollar rises and falls. While the relationship between the value of the U.S. dollar and gold is important, the dollar is not the only factor that affects the price of the precious metal. Other factors that affect the value of both gold and the dollar are interest rates, inflation, monetary policy, and supply and demand. The prices of gold and the dollar may often appear to oppose each other due to investor sentiments and economic factors, but there is no set or official relationship between the two. Gold is an asset. As such, it has intrinsic value. However, that value can fluctuate over time, sometimes in a volatile fashion. As a rule, when the value of the dollar increases relative to other currencies worldwide, the price of gold tends to fall in U.S. dollar terms. It is because gold becomes more expensive in other currencies. As the price of any commodity moves higher, there tend to be fewer buyers; in other words, demand recedes. Conversely, as the value of the U.S. dollar moves lower, gold tends to appreciate as it becomes cheaper in other currencies. Demand tends to increase at lower prices. Gold does not yield interest in itself; therefore, it must compete with interest-bearing assets for demand. In other words, other assets will command more demand because of their interest rate component. There is also a psychological factor attached to the value of gold. The price of gold is often sensitive to the overall perceived value of fiat or paper currencies in general terms. Here's one way of looking at this relationship: There are approximately 330 million people in the United States, while the total world population is around 7.7 billion.5 Less than 5% of the world lives in a nation where the U.S. dollar is the national currency. Aside from its role as a metal or a commodity, gold is one of the oldest means of exchange known to the human race. In fact, gold has a dual role as both a commodity and a currency. Gold has amazing properties; as a metal, it is soft, dense, lustrous, brilliant, ductile, and malleable. Gold's History and Symbolism Throughout history, civilizations have coveted gold. Even today, gold remains the ultimate prize. Gold is not only a prize and a symbol of wealth, it is also a metaphor. It's an honor to receive a gold medal, to be told you have a heart of gold, or to own a gold credit card. The exchange of gold bands symbolizes love and marriage in many societies. Gold is the ultimate symbol of the pinnacle of human achievement. Today it continues to be a psychological barometer of market sentiment. Gold is a rare metal. In the history of the world, mining has produced only 187,000 tonnes. The fact that governments worldwide hold gold as a foreign exchange reserve highlights the importance of the metal. Throughout history, many governments used gold to back their currencies, creating a gold standard. Gold's Role The role of gold as a currency is ubiquitous around the world. Throughout history, gold has been money. The ancient philosopher Aristotle wrote that money must be durable, divisible, consistent, and convenient and that it must possess value in itself. Gold meets all of these characteristics. During times of fear or geopolitical turmoil, the price of the historic metal tends to rise as faith in governments falls. During times of calm, the price of gold tends to fall. As perhaps the world's oldest and most storied currency, gold is an essential barometer in terms of global economic and political well-being.
TVC:GOLD
by ProTradingPoint
XAUUSDNOT TRADING THIS MOVE! I think once more leg and drop it like it HOT. Every indicator is exhausted. This is a wave 5 bubble and when it pops, don't get burnt! Where it goes up to is anyone guess now - the yellow lines mark some daily candle resistances - but really this is nothing significant. - It's in the hands of the big banks now to wheel the retail traders in with sensationalised headlines such as "Gold reaches 9 year highs" - time for FOMO for alot of people - don't be that guy! or Girl! Catching the "top" is a mugs game lol Happy to catch the wave down however. Good luck all!
FOREXCOM:XAUUSD
by imk1983-fX
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