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GOLD world markets increased slightlyWorld gold prices today (January 16) increased slightly as investors increasingly searched for safe haven assets due to concerns about tensions in the Middle East and new expectations for the US Federal Reserve (Fed). ) will cut interest rates sooner than expected. The Federal Reserve has signaled three potential interest rate cuts this year; Meanwhile, European Central Bank committee members are rejecting the idea of ​​easing in 2024. The ECB's hawkish stance contrasts with the Fed - which is expected to cut interest rates later this year. However, the Federal Reserve is pushing back the timing of its interest rate release. Markets see more than a 70% chance of the Fed easing monetary policy in March. Markets are pricing in six possible rate cuts this year, double what the central bank indicated last month.
OANDA:XAUUSD
by Xayah_trading
GOLD suddenly turned around and slightly decreasedWorld gold prices were relatively stable with spot gold falling 5.3 USD to 2,023.5 USD/ounce. Gold futures were last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning. Investors are waiting for US inflation data to get more clarity on the path of the US Federal Reserve (Fed) interest rates this year. The USD weakened, the US Dollar Index (DXY) which measures greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) fell 0.21%, to 102.36. Gold suffered heavy losses over the past week as traders gradually scaled back speculation that the Fed would start cutting interest rates in March 2024. This idea has sent the dollar soaring, which has also put pressure on bullion prices. However, the yellow metal has managed to stay above $2,000 an ounce after surpassing that level in early December. Gold prices will also rise by around 10% in 2023.
OANDA:XAUUSDShort
by Xayah_trading
GOLD dropped sharply in the first session of the weekForecasting this week's gold price trend, Kitco News' latest weekly gold survey shows that 50% of retail investors participating in online polls on Main Street expect gold prices to increase this week. This and the rest forecast that the price will go in the opposite direction. Retail investors expect gold prices to trade around $2,049/ounce this week. Meanwhile, the majority of market analysts have an optimistic view on the yellow metal in the short term with 66% of experts participating in the survey predicting gold prices will increase. Walsh Trading's Co-Head of Commercial Hedging Sean Lusk is optimistic about gold, saying the precious metal remains supported by concerns surrounding conflict in the Middle East and seasonal factors. Lusk predicts that during the seasonal growth period from now until Valentine's Day, gold prices will reach 2,175 USD/ounce.
OANDA:XAUUSD
by Xayah_trading
GOLD moving closer to the threshold of 2,100 USD/ounceToday's world gold price listed on Kitco is at 2,086 USD/ounce, up 20 USD/ounce compared to early yesterday morning. Gold prices continue to rise thanks to the weakening of the USD and falling Treasury bond yields. The USD has continuously decreased in recent sessions. The DXY index (measuring the fluctuation of the USD against a basket of major currencies on the night of December 27, Vietnam time) dropped to 101.3 points. In the past 2 weeks, this index decreased a total of nearly 2.6%. The attraction for international gold thus increased. Investors reflected the expectation that the US would reduce interest rates in 2024 during the recent increase in gold prices. This also means that when the US officially reduces interest rates, it is likely that gold will no longer have much motivation to increase its price strongly.
OANDA:XAUUSD
by Xayah_trading
GOLD goes up, USD weakensToday's world gold price listed on Kitco is at 2,067 USD/ounce, up 14 USD/ounce compared to early yesterday morning. Gold prices rose slightly thanks to the weakening of the USD and falling Treasury yields as expectations grew that the US Federal Reserve (Fed) would reduce interest rates next year. A weaker dollar makes gold priced in that currency more attractive to holders of other currencies. However, it is forecast that there will not be any major fluctuations in the precious metals market this week. The main factor supporting gold is still the expectation that central banks will be more dovish in monetary policy and interest rates will decrease in the next few years. Underscoring ongoing geopolitical tensions, it is likely that gold will remain above $2,000/ounce in 2024.
OANDA:XAUUSD
by Xayah_trading
GOLD still retains strategic value in the investment portfolioOn the world market, the world gold price stood at 2,059 USD/ounce, a slight increase of 6 USD/ounce compared to the same hour yesterday morning. The gold market is preparing to end 2023 with strong price increases. The US Federal Reserve (Fed) has signaled that it may cut interest rates three times by 2024. The Fed reduces interest rates, meaning the USD weakens, thereby supporting gold prices. Experts say that despite historical patterns showing mixed performance under different economic scenarios, the 2024 scenario, marked by geopolitical risks and strong central bank demand central, can change the normal trajectory of gold. Gold retains strategic value in investment portfolios, especially during times of economic uncertainty, providing stability and diversification.
OANDA:XAUUSD
by Xayah_trading
GOLD the world market adds bullish factorsAt the end of last week, in addition to the US announcing a decline in GDP growth data, the market also received information that the UK's GDP growth also weakened by 0.1% in the third quarter of 2023. The Japanese economy said industrial production output in November is forecast to decrease for the first time in the past three months. Estimates predict that the country's industrial output will decrease by 1.6% compared to October. The expected production contraction in Japan is based on factors such as falling demand and a slowdown in global economic activity. The auto sector, a significant contributor to industrial production lost export momentum in November. The world's second largest economy, China, has a real estate sector that remains gloomy as house prices have fallen the most in the past 8 years. Although the Central Bank of this country has further lowered interest rates to recover the economy, the real estate sector has not shown signs of recovery. Thus, major economies are releasing third quarter economic growth reports and other related data, most of which have declining factors. Poor economic information supports gold prices to increase. Investors are still hoping that gold prices will increase during the New Year and Lunar New Year holidays when shopping demand increases. Today, the American and European markets are entering the Thanksgiving and Christmas holidays. However, Asian markets are still trading normally.
OANDA:XAUUSD
by Xayah_trading
GOLD increased slightly thanks to the weakening of USDWorld gold prices increased slightly thanks to the weakening of the greenback when the latest published economic report reinforced expectations that the US Federal Reserve (FED) will cut interest rates in March 2024. Data showed that US Gross Domestic Product (GDP) increased 4.9% in the third quarter, lower than expectations of 5.2% due to weaker consumer spending and imports than estimated, while applications Weekly unemployment benefits increased slightly. The market is expecting the FED to accelerate the process of cutting interest rates. Weaker GDP data caused the USD to fall 0.5%, while US 10-year Treasury yields are fluctuating near a 5-month low, pushing gold prices up. This morning, the USD-Index was at 101.84 points, the 10-year US Treasury bond yield increased to 3.905%, but was still at the lowest level in 5 months.
OANDA:XAUUSD
by Xayah_trading
GOLD quiet in the early morning trading session this morningWorld gold prices on December 21 turned down with spot gold down 10 USD to 2,030.2 USD/ounce. Gold futures last traded at 2,043.3 USD/ounce, down 8.8 USD compared to yesterday morning. The world gold market was quiet in the early morning trading session this morning as traders waited for a series of economic data at the end of the week to get new clues about the US Central Bank's monetary policy roadmap. The gold price trend is forecast to stabilize above 2,000 USD/ounce and mainly trade at higher levels considering geopolitical risks in the market, including the US election next year, which This could prompt money managers to increase gold in their portfolios. In the near term, gold could trade in a range of $1,950 to $2,150 per ounce, and the precious metal's price movements are driven by macroeconomic data and correlated expectations of a cut. Upcoming US interest rates as well as unexpected geopolitical risks. According to the bank, 2024 could be a positive year for gold amid the macroeconomic outlook as well as significant geopolitical and recessionary risks weighing on the global economy.
OANDA:XAUUSD
by Xayah_trading
GOLD is at a high levelWorld gold spot price stands around 2,038.3 USD/ounce, up 9.3 USD/ounce compared to last night. Gold futures price for February 2024 on the Comex New York floor is at 2,051 USD/ounce. Today's gold price for spot delivery on the world market stands around 2,029 USD/ounce. Gold delivered in February 2024 on the Comex New York floor is at 2,041 USD/ounce. Gold prices on the world market are at a high level and tend to gradually increase. Meanwhile, the domestic gold price is at a historic peak and may soon set a new record high according to world price movements. World gold increased mainly due to the decrease in the USD. The DXY index - measuring the movement of the USD against a basket of 6 major currencies - decreased slightly to 102.4 points.
OANDA:XAUUSD
by Xayah_trading
GOLD hold your breath waiting for the Fed's moveGold prices fluctuated slightly as investors waited for important US inflation data to be released at the end of the week to look for more signals on the US Federal Reserve's interest rate direction after dovish statements. recently. The market is in pause mode waiting for the next important fundamental economic news or data. He said that the buying activity of traders in the first trading session of the week was the psychology of buying when prices fall. The fundamental factors keeping gold prices are a weakening dollar, looser monetary policy and some safe-haven demand from tensions in the Middle East. Traders are pricing in a 69% chance that the Fed will cut interest rates in March. Lower bond yields and interest rates are a favorable environment for gold as it reduces the opportunity cost of holding the metal. this kind. Expect a series of important US economic data this week, including the core November personal consumption expenditures (PCE) index report.
OANDA:XAUUSD
by Xayah_trading
GOLD slow down and wait for market signalsWorld gold price is at 2,020 USD/ounce. Volatility in the gold market this week is said to be difficult to predict as investors continue to evaluate the US Federal Reserve's (FED) updated economic forecasts announced at its final policy meeting. in 2023. In addition, investors and traders will also be watching a number of important reports, including the personal consumption expenditure index that will be released on Thursday. If the report shows inflation continuing The decrease will strengthen the possibility that the FED will cut interest rates next year and push gold higher. On the contrary, a rising inflation scenario will put pressure on gold. Gold's resistance is forecast at $2,050/ounce, followed by the highest level reached in May of around $2,075. It is also not excluded that gold will conquer new highs in the near future. Gold's current support level is 2,010 USD/ounce. If this level is broken, the precious metal could fall to $1,990/ounce, or even lower.
OANDA:XAUUSD
by Xayah_trading
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
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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