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GOLD the trend is up but no longer strongOn the world market, gold price reached 2,034.65, an increase of 1.99 USD. The Fed's admission that inflationary pressures are on the decline has increased expectations for interest rate cuts. This has affected the strength of US government bond yields and the USD, but has a positive impact on the gold market. In the short term, according to technical analysis, gold is still in an uptrend but not as strong as before. The nearest resistance level for gold price is 2,012.5 USD/ounce (highest on December 12) and the next strong resistance level is 2,075 USD/ounce. Meanwhile, the support threshold is 1,955.4 USD/ounce. This is the lowest level in November.
OANDA:XAUUSD
by Xayah_trading
GOLD need a more obvious sign of sharp macro declineWorld gold prices on Tuesday hovered around the 1,990 USD/ounce mark after 2 sessions of decline. World gold prices became more cautious due to information that US consumer prices unexpectedly increased in November, as traders are waiting for important central bank policy meetings to find clues about the policy. currency book. The consumer price index (CPI) increased 3.1% year-on-year in November, in line with economists' expectations. November CPI increased 0.1% compared to the previous month. At the same time, the annual base interest rate remains at 4%. All eyes are on the Fed's two-day monetary policy meeting, which will end on Wednesday with a decision on interest rates and the release of summary economic forecasts. The Fed is expected to leave interest rates unchanged this week, with about an 80% chance of a rate cut in May, according to the CME FedWatch Tool.
OANDA:XAUUSD
by Xayah_trading
GOLD fluctuating in the lowest price range for more than 20 daysWorld gold price stood at 1,983 USD/ounce, down sharply by 20 USD/ounce compared to the same hour yesterday morning. Gold is fluctuating in the lowest price range over the past 20 days. Gold traders are waiting for some new fundamental information. Gold's short-term chart condition has worsened. If the CPI number is higher than expected, that could create some selling pressure in the gold market. Today, the US Federal Reserve (Fed) will hold its first meeting in two meeting days in December. Experts say that with stable employment information and actual inflation as expected, it is likely that the Fed will still keep interest rates high until the inflation target of 2% is achieved. If the economy and employment are stable, high interest rates will cause gold prices to continue to decline. In essence, the market is facing a promising buying opportunity, but the necessary momentum has not yet materialized. The path ahead for gold remains uncertain, but it is this uncertainty that makes it an attractive market to watch in the coming days. Meanwhile, information from the World Gold Council (WGC) said that central banks continued their race to buy gold, with monthly net purchases reported at 42 tons in October.
OANDA:XAUUSD
by Xayah_trading
GOLD expected to decrease this week.World gold price trades at 1997 USD/ounce. Compared to last week's closing session, world gold prices decreased slightly by 6 USD/ounce. Some analysts believe that the coming time will be challenging for gold. Currently, the gold market is under pressure because the November employment report in the US published last weekend was quite positive. Specifically, non-farm payrolls in the US in November created 199,000 new jobs, higher than the forecast 180,000 jobs and 150,000 jobs created in October. The unemployment rate in November was at 3.7%, lower than forecast and reached 3.9% in October. Average hourly income in November also increased from 0.2% in October to 0.4%, higher than the 0.3% forecast. The gold market is also under pressure because the US Federal Reserve (Fed) meeting will take place on December 12 and 13. Closing last week's trading session, gold prices fell sharply by more than 3% at the end of last week, causing the gold market to witness the strongest fluctuation since mid-August 2020. Many experts predict precious metal prices will decrease this week. After the jobs report and wage data released last week, the US Federal Reserve (Fed) may become more hawkish, which will push the USD and bond yields higher, putting pressure on for gold price.
OANDA:XAUUSDShort
by Xayah_trading
GOLD ending the most volatile week in over 3 yearsLast week saw gold prices skyrocket, setting a new record of 2,149 USD. However, this price does not last long. Closing the weekly trading session, world gold price stood at 2,004 USD/ounce, down sharply to 68 USD/ounce compared to last week's closing session. Last week saw gold prices skyrocket, setting a new record of 2,149 USD. However, this price does not last long. Precious metal prices turned around and continuously plummeted, sometimes dropping to only 1,995 USD/ounce. With a fluctuation of 154 USD this week, the gold market witnessed the strongest weekly fluctuation since mid-August 2020. The employment data released this weekend is like "pouring cold water" on interest rate cut expectations. The number of jobs increased higher than expected combined with the falling unemployment rate, causing the market to postpone expectations of interest rate cuts to May, instead of March as before. It is forecasted that gold will see some downward price pressure next week. After Friday's jobs report, it's unlikely Fed Chairman Jerome Powell will change his hawkish stance, even if the central bank is expected to leave interest rates unchanged. Despite the positive long-term outlook, gold is susceptible to bad news. Gold may fall below 2,000 USD/ounce, to the support level of about 1,975 USD/ounce.
OANDA:XAUUSDShort
by Xayah_trading
2
GOLD down more than 2% after hitting an all-time high Gold prices fell more than 2% after hitting an all-time high as currency futures traders increased bets the US Federal Reserve (FED) would cut interest rates next year. Gold remains supported by hopes that not only is the tightening cycle by the Fed and other central banks over but also by expectations of interest rate cuts. However, today's drop may reflect that the odds have gone too far on an interest rate cut. The gold market at the moment seems to reflect a change in sentiment rather than specific fundamentals. There was no specific catalyst that led to the rally to $2,150, and no specific event pushed the price sharply back to $2,000. US bond yields rose but only modestly, and the strong dollar does not explain the volatility.
OANDA:XAUUSDShort
by Xayah_trading
GOLD the world has set a new recordThe world gold price listed on Kitco is at 2,126 USD/ounce, up 54 USD/ounce compared to early yesterday morning. Thus, today's gold price continues to set a new record, the highest ever. Precious metal prices rose as comments from Federal Reserve Chairman Jerome Powell increased traders' confidence that the US central bank is done tightening monetary policy and Interest rates may be cut from March next year. In his speech, Mr. Powell said that the Fed is not currently thinking about lowering interest rates. However, analysts say it is clear that the Fed will not raise interest rates as the economy begins to slow. This will cause gold prices to continue to increase sharply in the near future. Markets predict the Fed will begin cutting interest rates in March and that by the end of next year, interest rates will be below 4%. In addition, gold is being strongly supported by seasonal factors. According to statistics over the past 6 years, gold has always increased during Christmas.
OANDA:XAUUSDLong
by Xayah_trading
GOLD weakened due to the recovery of the USDWorld gold prices weakened yesterday as the USD recovered and investors were waiting for important inflation data to assess whether the US will cut interest rates sooner than expected. This precious metal decreased slightly in the last session before the PCE data was released. He assessed that the US Gross Domestic Product (GDP) data in the third quarter was positive, but this data could not affect the market's bets on the Fed cutting interest rates. Recently, Fed officials warned of the possibility of interest rate cuts in the coming months and expected growth to slow and inflation to continue to decline. These comments pulled US 10-year bond yields down to a two-and-a-half-month low of 4.2470%. At this session, the dollar fell to near a three-month low, making gold cheaper for buyers with other currencies. Currently, investors are focusing their attention on Fed Chairman Jerome Powell's speech at the meeting taking place today, December 1.
OANDA:XAUUSD
by Xayah_trading
GOLD continues to climb to the top after the GDP reportWorld gold prices today continued to climb to a peak after the latest report showed that US GDP in the third quarter increased by 5.2% instead of the estimate of only 4.9%. Today's world gold price listed on Kitco is at 2,042 USD/ounce, up 2 USD/ounce compared to early yesterday morning. Precious metal prices continued to climb to their peak after the latest report showed that US GDP in the third quarter increased by 5.2% instead of the estimate of only 4.9%. Stronger GDP data boosted the USD and put slight pressure on gold in mid-week trading. However, expectations that the US Federal Reserve (Fed) may cut interest rates in the first half of next year continue to keep bullion near a 7-month high.
OANDA:XAUUSDLong
by Xayah_trading
GOLD continued increaseGold prices today (November 28) increased slightly. Although the precious metals market is having some significant upward momentum, analysts are wondering whether gold can reach an all-time high in the near future. come or not. The gold market is benefiting from new market expectations that the US Federal Reserve (Fed) will soon cut interest rates. According to the CME FedWatch Tool, the market sees a 25% chance that interest rates will rise as early as March; However, the market sees a higher likelihood of an interest rate cut in May or June 2024. Looking at gold's technical price action, some analysts say breaking above $2,010 an ounce is a key hurdle the market needs to overcome to have a chance at reaching all-time highs. Investors are now awaiting revised US third-quarter GDP figures to be released on Wednesday and the core consumer price index, the US Federal Reserve's preferred inflation measure. ), on Thursday.
OANDA:XAUUSD
by Xayah_trading
GOLD exceeds 2,000 USD/ounceToday's world gold price increased when the US manufacturing PMI index (an index measuring economic activity) dropped from 50 points to 49.4 points. This data makes investors believe that the US economy is weakening. Accordingly, they expect the US Federal Reserve (FED) to soon reduce interest rates in 2024 to promote economic growth. Immediately, the currency market had a certain reaction. The USD Index dropped to 103.5 points, causing the USD to decrease in price compared to 6 other strong currencies, including: Euro, JPY, GBP, CAD, SEK and CHF. Therefore, the world gold price last night had the conditions to rebound and surpass the resistance level of 2,000 USD/ounce. However, because the interest rate on 2-year US bonds increased to 4.95%, 5-year and 10-year bonds increased to 4.5% and 4.48% respectively, it attracted cash flow in the market, preventing hindering the increase in gold prices.
OANDA:XAUUSD
by Xayah_trading
GOLD goes below the threshold of 2,000 USDWorld gold prices increased slightly this morning with spot gold increasing by 2.5 USD to 1,992.1 USD/ounce. Gold futures last traded at 1,993.3 USD/ounce, up 0.5 USD compared to yesterday morning. The USD turned down in the context of US 10-year Treasury bond yields falling to their lowest level in 2 months. The US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased 0.17%, reaching 103.75. Gold prices have had a pretty good "performance" when exceeding the threshold of 2,000 USD/ounce a few times. Although the world gold price has not been able to maintain this price level, it will not take long for it to rise as the market increasingly expects the US Federal Reserve (FED) not to raise interest rates further.
OANDA:XAUUSDShort
by Xayah_trading
GOLD turn downWorld gold prices decreased slightly in this morning's trading session. Spot gold fell to 1,989.6 USD/ounce, down 8.1 USD compared to yesterday's trading session. Meanwhile, gold futures decreased by 9.8 USD, to 1,991.8 USD. Gold is under slight selling pressure after the US labor market unexpectedly improved with a decrease in the number of unemployment benefit applications. The latest data on the labor market helped the USD and US Treasury bonds recover, while pushing gold prices away from the important threshold of 2,000 USD/ounce. Previously, gold prices reached a 3-week high of 2,007.29 USD/ounce. However, gold prices are still supported by the current macroeconomic context. Falling inflation and the market's expectation that the US Federal Reserve (Fed) will soon complete its interest rate hike cycle are factors that increase the appeal of gold.
OANDA:XAUUSDShort
by Xayah_trading
GOLD increased beyond 2,000 USD/ounceDuring the trading session lasting from last night to early November 22, the spot price of gold on the international market experienced a fierce increase, breaking the resistance threshold of 2,000 USD/ounce to reach 2,007 USD/ounce. . Gold price today has cooled somewhat, trading at 1,998 USD/ounce Gold prices today fluctuate strongly due to the decline in US bond interest rates - to 4.4%/year. Since then, investors criticized bonds and shifted money to precious metals, creating momentum for today's gold price to increase dramatically. Gold prices are trying to stabilize above 2,000 USD/ounce. Falling US bond interest rates are supporting world gold prices towards the resistance zone of 2,015 - 2,025 USD/ounce. The highlight of the gold market is the November minutes of the Federal Open Market Committee (FOMC - US) which will be published at the end of November 22. Accordingly, investors will look for more clues about US monetary policy. Currently, inflation and the labor market in the US have cooled, while the country's economic activity shows signs of weakening. Therefore, financial investors increasingly expect the US to reduce interest rates in 2024. At that time, the value of the USD will decline, benefiting world gold prices.
OANDA:XAUUSDLong
by Xayah_trading
GOLD prices suddenly increased sharply todayWorld gold prices today (November 21) suddenly increased sharply when inflationary pressures in the US eased and the weak economy began to cool down. Analysts say that the US Federal Reserve (Fed) is not yet ready to change the trend of tightening monetary policy, which is making it impossible for hedge funds to access gold. Gold prices could reach $2,100/ounce despite recent data proving that the strength of the US economy shows signs of cracks. “The growth outlook will weaken significantly” starting in the fourth quarter of 2023 and continuing into the first half of next year. In the context of a recession, the Fed will have to cut interest rates more sharply than the market expected. That is the period when gold begins to set a series of new all-time highs.
OANDA:XAUUSD
by Xayah_trading
GOLD reversing to the downside, support factors still remainLast week, the international financial market received a lot of negative employment information and retail sales in the US and UK, causing the USD to continue to decline. Specifically, this morning the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies - decreased by 0.07% to 103,850 points. The USD fell so last weekend investors stepped up their gold purchases. In particular, the world's largest gold trust fund SPDR last week's session bought a net 12.98 tons of gold in the session on November 17 alone. Increased demand pushed world gold prices last week up to 36 USD/ounce, equivalent to about 2% compared to the previous week's closing session. At the beginning of this week, the gold market was lacking economic information, so investors immediately took profits to recover capital and waited for more economic information. The market is lacking economic information, but Russia continues to be subject to new sanctions packages, which could increase geopolitical tensions in Ukraine. This may be a factor supporting the gold market during this period.
OANDA:XAUUSD
by Xayah_trading
GOLD reduced during the weekend trading sessionGold prices opened the session higher thanks to the decrease in the USD index and US Treasury bond interest rates. This is motivating investors to actively buy gold during the uptrend to make profits. According to statistics, the number of Americans applying for unemployment benefits increased more than expected, which helps the US Federal Reserve's (Fed) fight against inflation. Newly released data shows that US producer prices have fallen the most in the past 3 years, while US consumer prices have remained unchanged over the past 10 months. According to the CME FedWatch tool, the gold market is pricing in a nearly 100% chance that the US Central Bank will keep interest rates unchanged in December. Gold is considered an inflation hedge. Interest rates remain high, reducing the appeal of gold bars.
OANDA:XAUUSD
by Xayah_trading
GOLD soaring high as unemployment increasesPrecious metal prices rebounded as US Treasury bond yields fell and inflationary pressures in the US were easing. US CPI remains unchanged in October 2023. US PPI also fell the strongest in three years. Previously, the Fed decided to keep the basic interest rate unchanged. However, US policymakers left open the possibility of raising interest rates later this year and implementing monetary policy throughout 2024 will be tighter than expected. Investors are still concerned about a series of short-term risks, making an economic "soft landing" impossible. The US House of Representatives has passed a temporary spending bill to avert a government shutdown, with broad support from lawmakers.
OANDA:XAUUSDLong
by Xayah_trading
GOLD easing pressure from the USDDespite a slight decrease, experts still predict the future of gold prices optimistically. World gold price stood at 1,958 USD/ounce, down slightly by 5 USD/ounce compared to the same hour yesterday morning. This morning, the US Dollar Index increased 0.4% and the 10-year US Treasury bond yield recovered, putting downward pressure on gold prices. However, precious metal prices still remain at their highest level within the past week. Gold is anchored at a high price because countries are still promoting gold imports and increasing their reserves of this precious metal. China currently holds at least 33,000 tons of gold, many times the figure of 2,215 tons given by the World Gold Council and double the US level of 16,500 tons. CPI data from the US was lower than forecast, supporting gold prices. Expectations that in the fourth quarter, inflation will cool down even more. This will weaken the USD and push up gold prices. In the next 6 months, we forecast prices towards 2,100 USD/ounce. With yields rising again, gold will fall after the initial rally. The outlook will remain positive for the asset (gold) but more caution is needed. However, this upside could be limited as concerns about an escalation of the war in Gaza have faded that had fueled a rise in safe-haven appeal over the past month.
OANDA:XAUUSD
by Xayah_trading
GOLD keep going upToday's world gold price listed on Kitco is at 1,962 USD/ounce, up 12 USD/ounce compared to early yesterday morning. Precious metal prices continued to increase in the context of the USD falling quite quickly from 105.7 points to 104.8 points at the beginning of the trading session on the US market. Besides, the US consumer price index remained unchanged in October and core inflation showed signs of slowing down. CPI increased by 3.2% compared to the same period last year. This level in September was 3.7%. According to the CME FedWatch tool, after the inflation report was released, the market predicted a 100% chance that the US Central Bank would keep interest rates unchanged in December compared to 86% before the inflation report.
OANDA:XAUUSDLong
by Xayah_trading
GOLD waiting for a chance to reverseToday's world gold price listed on Kitco is at 1,946 USD/ounce, up 7 USD compared to early yesterday morning. Precious metals inched up slightly as investors waited for US inflation data this week to evaluate the interest rate roadmap of the US Federal Reserve (Fed). If data shows higher-than-expected inflation, gold is likely to fall again as that increases the likelihood of another interest rate hike, experts said. However, if the data is right, gold could trade at $1,950. Gold fell 3% last week and lost more than $60 as safe-haven demand cooled and as Fed Chairman Jerome Powell's hawkish comments pushed back any expectations of interest rate cuts.
OANDA:XAUUSDLong
by Xayah_trading
GOLD turn on the increase right at the beginning of the sessionThe world gold spot price on the Asian market is around 1,941 USD/ounce, up nearly 3 USD/ounce compared to last week's closing session. The price of gold delivered according to the contract this morning reversed and increased by nearly 2 USD/ounce to 1,944 USD/ounce compared to the previous session's close. World gold prices reversed to increase at the beginning of the morning session because the market was concerned that the world's second largest economy, China, was entering a state of deflation. Specifically, last weekend, Trong Quoc announced that the consumer price index (CPI), China's main measure of inflation in October 2023, decreased by 0.2% over the same period last year. The CPI only increased again in August and September, while July still decreased by 0.3%. After this information, HSBC Bank released analysis that China's deflation has caused difficulties for exporters to this country in Southeast Asian countries, Korea, Taiwan and Germany. Experts say that deflation in China comes from excess capacity in manufacturing factories, which is pushing down global prices of manufactured goods. China's economic deflation puts strong pressure on regional and global economies. Investors are concerned that deflation in the world's second largest economy will make global economic growth difficult in the near future, increasing risks, so they have stepped up gold purchases.
OANDA:XAUUSDShort
by Xayah_trading
GOLD a miserable weekClosing the weekly trading session, world gold price stood at 1,938 USD/ounce, down sharply to 54 USD/ounce compared to last week's closing session. For the whole week, gold decreased by up to 3% in value, marking the worst week of price decline in the past 6 weeks. There are no new developments in tensions in the Middle East, the USD continues to strengthen, the US Federal Reserve (Fed) maintains a "hawkish" stance,... are factors that have a negative impact on gold prices. world last week. Gold's safe-haven demand is weakening as conflict tensions in the Middle East are not changing much. Fed Chairman Jerome Powell's statements that the central bank is still willing to raise interest rates have a big impact on gold. Unless new developments change this view, gold will witness another slight price decline next week.
OANDA:XAUUSDShort
by Xayah_trading