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Preciousmetals

Silver: Thoughts and AnalysisToday's focus: Silver Pattern – Breakout test. Support – 21.90, 22.84 Resistance – 23,45 23.19 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Silver on the daily chart. Looking at Silver, we see that price continues to pull back after breaking out of a triangle-based squeeze pattern. This is fine after a breakout but we want to see 22.84 hold as support for buyers. If it does, we will look for a move to retest resistance, set up a range break, and possibly confirm a new up trend. If sellers break 22.84 support, this could be a worry, and if other factors weigh in, like metals sector selling and or a firmer USD, this could lead to deeper tests to the downside. Do you think buyers can hold and set up a new push higher? Good trading.
EIGHTCAP:XAGUSDLong
by Eightcap
XAUUSD TODAY : How to win?Gold price is consolidating the solid recovery from the weekly low level of 2,015 USD at the beginning of the fourth day. The US dollar extends the regression from the highest level in many months, in the context of the interest rate of the US Treasury bonds and the market environment is friendly and risky, promoting gold buyers to accelerate. According to observation on the 1H chart, gold price is facing difficulties around the $ 2,030- $ 2,035 area. The relative power index (RSI) in 14 days is trading at a neutral level at 50, showing that the gold price lacks a clear orientation. If the recovery is successful, the strong resistance level immediately for gold price will be seen at a psychological level of 2,050 USD. The next important supply area for bright metal is seen at about 2,065 USD. On the other hand, gold sellers need to search for decisive closing levels under $ 2,035- $ 2.030 above. Further, will check the threshold of $ 2,000 if the $ 2,010 round number makes room.
OANDA:XAUUSD
by Antonia_Le
Will SILVER Finally Break The Support Level?Hi Traders! There is a potential breakout on SILVER as it tries again to break the long-term support level.   Here are the details: Looking at the price action, it looks bearish; the market swings are lower with lower highs and lower lows. The market has broken and closed under the 20 EMA, and this is the third time around the 21.885 support level. The plan is to wait and see how the market reacts at 21.885. If the market holds above this level, then it will likely target the resistance trendline. However, if there is a break and close below 21.885, there is a good chance of targeting the long term support level at 20.696. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance 1: 22.639 Support 1: 21.885 Support 2: 20.696 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
TVC:SILVERShort
by BluetonaFX
1
Market selloff poses a threat to the gold's performanceFinally, our expectations for gold to slide below $2,000 were fulfilled yesterday when the shiny metal sold off following the release of higher-than-expected inflation data in the United States. Given the hell breaking lose (yesterday) in the stock market, we remain concerned about gold’s performance in the short and medium term (while being bullish in the long term). It is very likely that the selloff in stocks will negatively affect gold’s price (if it continues), dragging it to $1,950 and potentially even lower (depending on the new developments). In line with our previous assessments, we patiently wait for a better price to manifest itself before taking advantage of the opportunity (ideally waiting for the dip below $1,900). Illustration 1.01 The image above shows the daily chart of XAUUSD and adjusted fan lines. The yellow arrow indicates a bearish breakout below the third fan line. Illustration 1.02 Illustration 1.02 portrays the daily graph of XAUUSD and simple support/resistance levels derived from peaks and troughs. Illustration 1.03 On the daily time frame, the MACD crossed into the bearish territory, bolstering the odds of gold continuing lower. Technical analysis Daily timeframe = Bearish Weekly timeframe = Neutral (turning slightly bearish) 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 serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
4
What does golden price change today? New week strategy! Today, gold price dropped sharply, losing nearly 20 USD in just one session and gold has surpassed many important support levels with the current price in the 2020 USD. Overall the momentum of gold price in the past week and in the past month, there has been weakness when on the gold chart began with the trend of sideway and the prospect for this week is still in favor Early interest rates and news still support the dollar quite a lot. I set goals at $ 1982. And you ?
OANDA:XAUUSD
by Antonia_Le
2
How we will play a gold's slump if it occurres Earlier this year, we reiterated our long-term bullish view on gold with a price target of $2,300 per troy ounce. We continue to hold this view; nevertheless, in the short-term and medium-term, it is increasingly likely that we will see a significant pullback in the price, with gold falling below $2,000. As we described previously, we do not intend to sell our holdings. Instead, we plan to use this opportunity to speculate on gold (aiming to get our hands on more of it), utilizing either a dual currency deposit or a different structured product (once the volatility picks up and gold falls significantly). Illustration 1.01 The gold’s MACD is approaching the midpoint. If it breaks below zero, it will bolster a bearish case in the short term. Illustration 1.02 The picture above shows the sloping support for gold. If it is broken to the downside, it will be slightly bearish. Technical analysis Daily = Neutral Weekly = Bullish 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 serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
2
Bullion Ballet: Trading the Gold Platinum RatioGold is the favoured precious metal. Its demand reflects consumer consumption of jewellery, investment demand, and monetary policy conditions. In a previous paper , Mint Finance highlighted these factors in detail. Platinum is also a precious metal, used to create jewellery and to a small extent as a form of investment. Crucially, unlike gold (6% industrial demand), platinum (73% industrial demand) is used more extensively for industrial applications. As gold and platinum share the source of jewellery demand, their performance is generally positively correlated. However, due to the distinct sources of demand as well as the extent to which each precious metal is used for each application, the correlation can break. These periods can offer tactical trading opportunities to benefit from the relative performance of CME Group’s precious metals suite. Particularly in a key ratio called the Gold to Platinum Ratio (“GPR”) which measures the price of gold relative to platinum. WHAT DRIVES THE GOLD-PLATINUM-RATIO The GPR is affected by monetary policy. Though the ratio does not show a distinct impact upon the first-rate cuts by Fed, rapid rate cuts in response to economic crises such as recessions can cause it to rally. The GPR increases during recessions due to investor preference for gold during times of crisis. Interestingly, the ratio has been rising since 2008 as gold price reaches new record highs, while platinum currently faces a cyclical downturn. RECESSION MAY BE UNLIKELY While the GPR faces the potential to increase during a potential recession, there are signs that a recession may be unlikely in the US. US spending remains resilient and has contributed to faster than expected GDP growth in 2023. While growth slowed heading into Q4 2023, it is still expected to expand at a strong 2% in the quarter. Moreover, the January BLS nonfarm payrolls report showed a massive 353k new jobs added. Wage growth was strong at 0.6% MoM, double the analyst estimate. Strong labour market and consumer spending in the US point to a healthier than expected economy. INDUSTRIAL SLOWDOWN WILL STILL HAMPER PLATINUM DEMAND In 2023, 33% of platinum’s demand came from industrial sources according to data from the World Platinum Investment Council . Platinum is used as a catalyst for several crucial industrial chemical processes. In addition, automotive demand represents a further 40% of total platinum demand. In the automotive industry, platinum is used in catalytic converters to reduce emissions. This has been a recent driver of platinum demand due to rising emissions standards and the so-called platinum-for-palladium substitution. In short, palladium is a Platinum Group Metal (PGM) which can be used interchangeably in automotive applications. The surge in palladium prices prompted many automakers to replace it with platinum. These changes will be in place for the lifetime of a car’s production so this trend will benefit platinum for an extended period. While platinum is a standout among the so-called Platinum Group Metals (PGM), the industry has been facing a downturn over the past 2 years with prices sharply lower. Ample above-ground inventories as well as low investment demand has hampered platinum performance. This downturn may not be permanent. Higher automotive demand and growth in hydrogen vehicles are expected to be long-term growth drivers for platinum. For 2024, the World Platinum Investment Council forecasts a smaller supply deficit than 2023. This is largely due to lower industrial and investment demand as well as improved supply. Anglo American, one of the largest producers of refined platinum stated that it expects PGM production to improve, which means ample supply. During 2023, production was hampered in South Africa. Going forward, PGM’s are meant to be a major driver for the mining giant, so efforts to improve production are under way and management also expects prices to recover. However, continued cost pressures may force miners to scale back production. Overall, the slowdown in chemical and petroleum demand as well as ample supply will limit Platinum’s performance in 2024, though price does face upside potential in the medium-to-long term. BENEFITS OF TRADING THE RATIO Platinum faces a mixed outlook in 2024, while there are several long-term demand growth drivers pushing price up, it faces uncertain but bearish production and demand outlooks for 2024. Similarly, gold is benefiting from heightened geo-political risk and strong central bank demand but faces resistance as prices reaches new record highs and a recession looks unlikely. Mint Finance covered some of these factors in detail in a previous post . While the outlook for both precious metals alone is uncertain, a trade on the back of the GPR favours gold. Not only has the ratio been on an uptrend for the past decade, it has outperformed both gold and platinum prices. Moreover, the ratio is not prone to overly large corrections. The largest drawdown in the ratio was smaller than the largest drawdown in gold and platinum prices. HYPOTHETICAL TRADE SETUP To express a position on GPR, investors can opt to use CME Group’s suite of precious metals future. Margin offset of 50% is available for a trade consisting of 1 gold (GC) contract and 2 platinum (PL) contracts. Executing a trade on the May futures contracts (GCK2024 and PLK2024), requires margin of: (Margin for Gold Leg + 2 x Margin for Platinum Leg) = (USD 8,300 + 2 x USD 2,800) = USD 13,900 – margin offset of 50% = USD 6,950. CME options on gold and platinum point to a bullish outlook for both but gold positioning is more bullish than platinum. As of 5/Feb, Gold options have a put/call ratio of 0.48 while platinum options have a put/call ratio of 0.75. Consider the following hypothetical trade setup: Entry: 2.275 Target: 2.530 Stop Loss: 2.100 Profit at Target: USD 23,013 Loss at Stop: USD 15,803 Reward to Risk: 1.46x This position benefits when: • Gold price rises faster than platinum. • Gold price falls slower than platinum. The position loses when: • Gold price rises slower than platinum. • Gold price falls faster than platinum. MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
Editors' picks
COMEX:GC1!Long
by mintdotfinance
15
BTCUSDT: Getting hotThe price of Bitcoin is currently on an upward trend since last Thursday. BTC reached its highest point in two weeks at $43,990 before undergoing a correction. At the time of writing, BTC is trading at $43,374. Looking ahead, BTC faces a resistance level in the range of $43,870 to $45,562, which could lead to a further price drop. In the event of a decrease, the price of Bitcoin may sharply decline to a psychological support level at $40,000. If this level is broken, the next support zone will be between $38,535 and $38,574.
by TradingForecast_Signals
Gold price today (January 29)Hello dear friends! Today, gold continues its downward trend. It can be seen that the recent actions of the Fed have been less accommodating, indicating that interest rates may continue to rise and the USD will become even stronger. This will be unfavorable for the gold market. Therefore, it is not surprising that we are quite optimistic that gold will not have any new breakthroughs from this downward trend, and the 2020 USD support level needs to be observed more closely. The EMA signal, along with the downward trend, further reinforces the decline of gold. The price target reaching the 1980 USD area continues to be emphasized.
OANDA:XAUUSDShort
by TradingForecast_Signals
BTCUSDT: Falling from the price level of 40,000 USDDear valued readers, as I mentioned yesterday, BTCUSDT has broken out of its upward channel, leading to a significant decline in the price. At the time of writing, the cryptocurrency market is trading around the $40,000 mark. The downward trend is strong as the price has surpassed several important support levels, namely $41,000 and $42,000. Meanwhile, after the approval of 11 Bitcoin ETF funds, BTCUSD continues to decline on Thursday. It is expected that the price will reach $35,359. What are your thoughts on this matter? Do you agree with me?
Short
by TradingForecast_Signals
Gold slows down in downtrendHello everyone, let's explore the price of gold! Regarding the developments and outcomes of the news on January 22nd: The price of gold has experienced significant fluctuations, mainly fluctuating in a downward trend, and the EMA continues to be the dominant support for gold. Currently, the price is consolidating. This is due to the strengthening of the US dollar as the Federal Reserve is unlikely to cut interest rates in March. As a result, investing in gold becomes more expensive due to higher interest rates. Conclusion on gold and trends: Gold attracted some buying activity on Tuesday and recovered most of its modest overnight losses. Political tensions in the Middle East, along with concerns about China's weak economic recovery, have supported some safe-haven precious metals. However, in the long run, the price is still negatively impacted by the previous downward trend, evidenced by the price remaining below the strong resistance level of $2050. My target is for the price to pull back to the resistance levels around $2040 and $2050 before being influenced by the market's strong downward trend, with an expected decline to $2000. Any breakthrough below this level of $1980 will be the last line of defense for the bullish camp.
OANDA:XAUUSDShort
by TradingForecast_Signals
How will gold prices change this week?Hello everyone, it's Karina here, delighted to share with you today's updates on gold prices. At the start of today's trading session, gold experienced a slight increase, currently hovering around 2030 USD. The 1-hour chart shows an upward trend for gold, with support formed near 2025 USD. Looking into this week's outlook, all eyes are on the USD fluctuations amidst major central banks' monetary policy decisions. The European Central Bank (ECB), in particular, will be under scrutiny. Their recent hawkish stance at the World Economic Forum in Davos could significantly influence the USD and potentially support gold prices. What do you think, how will gold move this week?
OANDA:XAUUSD
by Karina_Bella
1
What changes in gold prices this week?Hi everybody! What do you expect about gold prices this week? As for Karina: today's gold price decreased by about 6 USD after rising to 2031 USD, following a clear downtrend on the chart. This is due to the strengthening of the USD, as the Fed is unlikely to reduce interest rates in March. This makes investing in gold more expensive due to high interest rates. Besides, the US core personal consumption index, an important inflation measure, influences the Fed's decision to loosen monetary policy. However, US macroeconomic data may not have much impact if gold prices stay below 2,000 USD/ounce. James Stanley, senior strategist at Forex, predicts that gold prices will stabilize around $2,000 per ounce. He emphasized that any price drop below this level will be a buying opportunity for investors.
OANDA:XAUUSD
by Karina_Bella
XAUUSD TODAY : Trends and prospects"Hello everyone, what do you predict today's gold price will be - up or down? Let's explore XAUUSD today! Gold prices today are almost unchanged, fluctuating around 2022 USD. With resistance at 2035 USD and a position below the 34 and 89 EMAs, it is clear that the downtrend is still continuing, although there are signs of cooling down. Regarding news affecting gold prices, investors are waiting for important economic reports from the US this week, including the PMI report, fourth quarter GDP data and personal consumption expenditures. This information will provide new signs about the Fed's interest rate policy. According to CME FedWatch Tool, the possibility of the Fed cutting interest rates in March decreased from over 70% to 43.5%, weakening the chance of a strong increase in gold prices. Karina predicts that gold prices will likely continue to decline, but remain at a defensive level from 2005 to 2008 USD. Gold still has a chance to reverse if it holds above this support level. How about you? What do you expect for gold prices in the near future? Please share your opinion below in the comments for Karina to discuss!"
OANDA:XAUUSD
by Karina_Bella
XAUUSD - Will it end the week up or down?Hello dear friends! On the last day of this week's trading session, gold had a gentle recovery with the price fluctuating near 2030 USD and marking an increase of 0.33% on the day. However, it also encountered immediate resistance in this area along with the operating zone of EMA 34, 89. The price could fall back to 2010 USD if news at the end of the day is released in support of the USD. . On the contrary, if the price successfully breaks out of that resistance level, it will open up a strong increase opportunity for buyers with a target of 2055 USD. Which direction do you think gold will choose to move?
OANDA:XAUUSD
by Karina_Bella
Change gold positively on the weekend!Hi, dear friends, nice to meet you in the game to transfer gold price today! On the fourth day, Gold carried out a strong weakness, the price reached the psychological level of $ 2000 but made the adjustment again and lasted to this day. The precious metal is currently trading around US $ 2022 and is close to Fibonacci's 0.5 - 0.618 regression, so the prospect of this precious metal is still high. However, if it can overcome that regression level and overcome the temporary resistance level at 2033 USD it can open for gold more and more strongly recovering opportunities with the contribution from stress. Political escalation will push high risks globally. The economies will continue to suffer from inflation pressure due to goods deficiency. This will make the global economy difficult to recover as expected, so they will boost gold to make profits and prevent risks for capital flows. The forecast of gold price has increased sharply, when stress has not ended. In your opinion, how will gold move in the near future?
OANDA:XAUUSD
by Karina_Bella
1
$RUGRES 'August/2023 Accumulation'ECONOMICS:RUGRES The latest data from the International Monetary Fund’s (IMF) International Financial Statistics (IFS) report shows that Russia’s central bank increased its gold reserves in August, restoring reserves back to previous levels from earlier this year.⁠ ⁠ “IMF IFS data shows gold reserves at the Central Bank of Russia rose by 3 tonnes in August,” according to Krishan Gopaul, Senior Analyst at the World Gold Council. ⁠ ⁠ Analysts reacted positively to the data, but some raised questions regarding Russia's gold production and where the precious metal is going.⁠
ECONOMICS:RUGRES
by Mr_J__fx
Gold price today and prediction of upcoming trendsHello everyone! Today, we witness the continuing downtrend of gold prices, currently hovering around the 2023 USD mark. It's a decline of 5 USD for the day and over 30 USD since the beginning of the week. This decline is primarily attributed to recent positive news about the USD, which has shaken the confidence of traders, leading to selling gold to secure profits. Looking at the technical analysis charts, gold seems to be forming a 'cup and handle' pattern, reinforced by a bearish signal from the reversing EMA 34. If gold breaks through the critical support level at 2015 USD, we might see a more significant drop, aiming next at the buyers' defense zone around 1982 USD. What do you think about the future of gold prices? Do you expect it to rise or continue its current downward trajectory? Share your thoughts!
OANDA:XAUUSD
by Karina_Bella
XAUUSD - Continuing to return to the price increase journey?Welcome to a new promising and productive trading week! Looking back at last weekend, gold proved its strength with a spectacular Breakout, completely escaping the sideway trend and ending the downward trend. It was an impressive move from the bulls, as they not only successfully defended the key defensive zone at 2015 USD but also pushed gold prices up sharply from this point. Tensions in the Middle East are having a clear impact, easing pressure on the USD and bond yields, thereby supporting gold prices. In the short term, demand for safe havens will likely push gold prices higher. With the current picture, can we expect a gold price race to new heights? What about you, do you expect a wave of price increases for gold? Share your thoughts on where gold goes next in this exciting market!
OANDA:XAUUSD
by Karina_Bella
1