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XAUUSD : Gold is likely to fluctuate strongly to 2500 ?"Precious metals" regained what they lost during the US session on Monday During the Asian session on April 16, gold prices recovered and are currently trading around $2,386.80. On April 15, world gold prices adjusted slightly downward after US retail sales were higher than market expectations, however the upward momentum of XAU/USD returned early this morning and Currently the precious metal is trading around $2,386.80. If bearish momentum increases in the near term, support at $2,268 will come into view, with $2,233 lower. The focus of the market today will be the speech of Fed Chairman Jerome Powell. The anxiety underpinned gold's rally even as expectations for when the Fed would cut interest rates were pushed back. Instead, gold prices have been supported by other factors including strong buying by central banks, rising demand from Chinese consumers and rising geopolitical risks. There is growing evidence that the inverse relationship between bullion and US real interest rates is faltering. This phenomenon happened on Monday, when gold prices increased along with US government bond yields. Citigroup raised its 2024 gold price estimate to 2,350 USD/ounce and adjusted its 2025 gold price forecast to 2,875 USD. This happened after Goldman Sachs Group said that gold prices will increase continuously in the future, raising its year-end prediction to $2,700.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold soared to a new record high 2400Gold rebounded after the US PPI index was lower than expected Gold rises to $2,355 as PPI data misses estimates, focus turns to University of Michigan consumer confidence index In the April 11 session, gold prices benefited from US PPI data rising lower than estimated. The precious metal touched down to $2,325 early in the European session but then rebounded sharply after the data release and ended the day near $2,355. Today, the market will receive the University of Michigan's consumer confidence report. Currently, gold is rising to $2,390. New York Fed President John Williams said the Fed has made “tremendous progress” toward a better balance between its inflation and employment goals, adding that there is no need to cut interest rates. recently".
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Is gold likely to decline after CPI data?Gold turned down after the US CPI report increased higher than expected. Gold "free-falled" to $2,319 as the US CPI report exceeded estimates and the market downplayed interest rate cuts. During the April 10 session, gold prices fluctuated strongly after the announcement of US CPI data exceeding estimates. The precious metal fell from $2,349 to $2,319 and then recovered to $2,348 before weakening again to end the day at $2,328. Today, the market will receive the US PPI report along with weekly unemployment benefit applications. Currently, gold is rising to $2,339. Expectations for US interest rate cuts dropped sharply after inflation was announced. The probability of policy easing in the June meeting has decreased from 50% to 22%. The July meeting now shows 40%.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold continues to create all-time highsGold prices continue to increase as the war situation in the Middle East escalates. Gold prices are currently increasing for 3 consecutive sessions and are currently trading around $2,349.70. During the April 9 session, gold prices continued to increase sharply, extending their upward momentum to 3 consecutive sessions and currently XAU/USD is trading around $2,349.70. Despite the RSI touching overbought territory, the precious metal has been consistently making new highs for nearly a month now. This evening, US CPI data will be released and this may cause gold to fluctuate strongly. In the context of continuously escalating tensions between Israel and Hamas in the Middle East, gold prices have continued to rise. The precious metal has now maintained its upward momentum for the third consecutive trading session, as demand for haven assets continues to increase amid the current turmoil. This week, gold's upward momentum will be tested by US March CPI data, released on Wednesday. Currently, the market is expecting US core CPI to increase by 0.3%.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold prices hit a new record peakGold turned down after a galloping increase at the beginning of the week. Gold has now adjusted back down after yesterday's increase to $2,353, the market awaits the upcoming US CPI report. During the April 8 session, gold turned down after a galloping increase on Monday. The precious metal spiked to nearly $2,354, then corrected down to $2,318 and then recovered slightly and ended the day at $2,328. Gold prices continuously touch record highs ahead of US inflation data on Wednesday, which is an important basis for determining the upcoming direction of interest rates. Gold prices are currently reaching nearly 2,340 USD/oz at the beginning of today's Asian session, after closing the Monday session up 0.4%. According to forecasts of economists in a Bloomberg survey, the March CPI report will likely show signs of cooling inflation and this scenario will create conditions for the Fed to cut interest rates. The economic calendar is devoid of any prominent economic events as the market awaits US CPI data tomorrow. Currently, gold is rising to $2,345.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold continuously creates new peaksGold rebounded higher after the disappointing services PMI report. Gold broke out and increased around the $2,300 area after the US services PMI report was lower than expected. In the April 3 session, gold was supported when the ISM services PMI report dropped to 51.4 compared to the initially estimated level of 52.8. The precious metal fell to $2,267 early in the European session but then rebounded sharply and ended the day at $2,293 after the PMI data was released. Today, the market will receive unemployment benefit applications along with further speeches from Fed officials. Currently, gold is rising to $2,300.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold is making an all-time highGold surpassed $2,250 after last week's PCE report Gold rebounded sharply above $2,250 as the core PCE index matched estimates. Gold rebounded sharply over the weekend as the core PCE index matched estimates. The precious metal broke out from $2,194 to $2,235 before correcting slightly and ending the week at $2,223. The MoM core PCE index increased 0.3%, coinciding with market expectations. This shows that inflation is still persistent and the Fed will not be in a hurry to cut interest rates. This week, the market will receive a series of important economic data, including the services and manufacturing PMI index, JOLTS employment data, and the US NFP report. Currently, gold is rising to $2,256.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold fell sharply as the US economy remained resilient.Gold weakened after lower-than-expected unemployment claims and manufacturing PMI rose, the focus turned to Chairman Powell's speech today. During the March 21 session, gold prices were under pressure when the number of applications for US unemployment benefits was lower than expected and the manufacturing PMI index increased. The precious metal dropped sharply from $2,207 to $2,166 after the news, then increased slightly and ended the day at $2,182. Today, the market will receive Chairman Powell's speech on the recent interest rate decision as well as the future prospects. Currently, gold is falling to $2,176.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Gold will continue to set records for itselfGold increased sharply after the Fed's decision to keep interest rates unchanged. Gold attracted strong buying pressure when the Fed kept interest rates unchanged and Chairman Powell expressed a "dovish" stance. In the March 20 session, after increasing by more than $10 to above $2,164, gold turned down again and ended the day at $2,157. Earlier today, the Fed continued to keep interest rates unchanged at 5.5% and in the press conference, Chairman Powell emphasized that interest rates should not be delayed for too long. After the meeting, the precious metal jumped to $2,174 and continued its momentum to $2,222 before correcting back down. There will be no important economic data from the US today and tomorrow until Thursday when the Fed's interest rate meeting begins. Currently, gold is down slightly to $2,202.
OANDA:XAUUSD
by SantaTradeGold
1
XAUUSD : Gold slightly corrected ahead of the FOMC meetingGold prices adjusted slightly downward as the USD appreciated thanks to a change in market expectations about the Fed's interest rates. During the March 19 session, gold prices fell to $2,150 as the US dollar continued to increase in price ahead of the Fed's FOMC meeting. The precious metal's nearest support is at the December 4 peak around $2,145. If this threshold is broken, XAU/USD could fall to the next support zone at $2,097. Today, all attention will be on the Fed's FOMC meeting at 1 p.m.
OANDA:XAUUSDLong
by SantaTradeGold
SPY S&P 500 ETF Options ahead of the FOMC decision After the 2023 price target was reached: Now Powell's likely to take a hawkish stance tomorrow, given the CPI, PPI, and GDP data. Interest rate cuts probably won't happen before June, in my opinion, potentially causing both indices and the crypto market to decline. I would consider purchasing the 489usd strike price Puts with an expiration date of 2024-5-17, for a premium of approximately $3.13. My end of the year Price Target for SPY, the S&P 500 ETF, is $540.
AMEX:SPYShort
by TopgOptions
XAUUSD : Gold continues to wait for the FOMC meetingGold is under pressure as investors wait for the Fed interest rate meeting Gold recovered slightly as the USD slowed down and investors prepared for the Fed meeting on Thursday. During the March 18 session, gold fell sharply from $2,159 to $2,146 when the USD was supported by the increase in US government bond yields before turning up and ending the day around $2,160 when the USD leveled off. Precious metals cannot break out as economic data is still good and the Fed interest rate outlook is still "hawkish". There will be no important economic data from the US today and tomorrow until Thursday when the Fed's interest rate meeting begins. Currently, gold is trading around $2,160.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold is in focus in the news todayGold weakens after US PPI data, focus turns to consumer sentiment report. Gold falls lower as PPI data is better than expected, boosting USD and US government bond yields. In the March 14 session, gold weakened after the release of US PPI data increased higher than expected, causing the market to lower the price of interest rate cuts. The precious metal fell from $2,171 to $2,152 following the news but then had a slight upward correction to end the day at $2,158. With the recent PPI data, the Fed will have to consider delaying the policy pivot, which could put pressure on precious metals. Today, the market will receive the consumer confidence index and the Empire State manufacturing index. Currently, gold is increasing slightly to $2,164.
OANDA:XAUUSD
by SantaTradeGold