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XAUUSDG trade ideas

World gold price recovers despite high USDWorld gold prices recover despite the high USD. Recorded at 9:50 a.m. on November 8, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 104.430 points (up 0.19%). According to Kitco, central banks cutting interest rates, a wave of buying, and recently released US economic data... are supporting the recovery of gold prices. On Thursday, the US Federal Reserve (FED) continued to cut interest rates. This was a move that many people had predicted and long expected. The Federal Open Market Committee (FOMC) lowered the federal funds rate by 25 basis points, in line with expectations. Interest rates are currently trading in a range of 4.5% to 4.75%. The FED did not provide much guidance on the future path of monetary policy. They noted that the economy continued to grow at a solid pace. Not only the FED, the Bank of England (BoE) has also just decided to cut interest rates further. In a long-awaited move, the BoE cut the bank rate to 4.75% on Thursday. In addition, gold prices rebounded sharply after the release of US labor market data. Mr. Ernest Hoffman - market analyst at Kitco News - said that the US Department of Labor announced on Thursday that initial jobless claims increased to 221,000 in the week ended November 2. This figure was completely in line with expectations, as the general estimate forecast the number of claims was 221,000. 🔥 GOLD BUY 2683 - 2681🔥 ✅TP1: 2690 ✅TP2: 2700 ✅TP3: OPEN 🚫SL: 2675
TVC:GOLDLong
by FalCol_TradingMaster
Will traders short this bounce in gold?Gold prices dropped sharply on the news that President Trump will govern the U.S. for the next four years, starting from January 6. This decline makes sense, given his plans to boost the economy despite an already low unemployment rate of 4.1%. These efforts are likely to push inflation and wages higher, which could compel the Fed to maintain elevated interest rates. As long as prices stay below 2,720, a test of this week’s low seems likely in the coming days. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:XAUUSDShort
by ThinkMarkets
Analyzing the Factors Behind the Recent Gold Price Decline A Post-Election Dip Gold prices experienced a significant decline following the recent US election. The precious metal, often seen as a safe-haven asset, retreated as the US dollar strengthened and Treasury yields surged. This confluence of factors put pressure on gold, which tends to perform poorly in a rising interest rate environment. Why Did Gold Fall? 1. Stronger US Dollar: A stronger US dollar typically weighs on gold prices. When the dollar appreciates, it becomes more expensive for foreign buyers to purchase gold, reducing demand for the precious metal. 2. Rising Treasury Yields: Higher Treasury yields reduce the appeal of non-yielding assets like gold. As bond yields rise, investors may shift their focus from gold to fixed-income securities. 3. Reduced Safe-Haven Demand: The election results, while not entirely unexpected, may have reduced some of the safe-haven demand for gold. Investors may have perceived less geopolitical risk and economic uncertainty, leading them to seek out riskier assets. Is More Downside Ahead for Gold? While the recent decline in gold prices has been significant, it's important to consider the factors that could influence its future trajectory: 1. Economic Uncertainty: Despite the post-election rally, global economic uncertainty remains elevated. Factors such as geopolitical tensions, trade disputes, and potential economic slowdowns could continue to support gold's safe-haven appeal. 2. Inflationary Pressures: Persistent inflationary pressures could drive investors toward gold as a hedge against currency devaluation. Central banks may need to tighten monetary policy to combat inflation, which could indirectly benefit gold. 3. Central Bank Demand: Central banks around the world have been significant buyers of gold in recent years. Continued central bank demand could provide support for gold prices. Technical Analysis From a technical perspective, gold prices have broken below key support levels. A further decline could be on the cards, with potential targets at the next significant support levels. However, it's important to note that technical analysis is not foolproof, and market sentiment can change rapidly. Investor Strategies Given the current market conditions, investors may consider the following strategies: 1. Dollar-Cost Averaging (DCA): By investing a fixed amount of money in gold at regular intervals, investors can reduce the impact of market volatility. 2. Physical Gold: Owning physical gold can provide a tangible asset and hedge against inflation. 3. Gold ETFs: Gold ETFs offer a convenient way to invest in gold without the physical storage costs. 4. Diversification: Incorporating gold into a diversified investment portfolio can help reduce overall portfolio risk. In conclusion, while the recent decline in gold prices is concerning, it's essential to consider the long-term factors that could influence its future trajectory. Investors should carefully assess their risk tolerance and investment goals before making any investment decisions related to gold.
OANDA:XAUUSDShort
by bryandowningqln
Gold Sell Strategy: Targeting Profits at 2737 and 2730, with a DSure! Here's your translation with a more detailed explanation and key points highlighted: --- **"I have analyzed the trading chart today and set a target for gold sell. My first profit target is **2737**, and the second profit target is **2730**. Even if the price touches **2744**, it will eventually come down."** --- ### Key Points: 1. **Trading Analysis**: You’ve done your analysis on the gold chart for the day. 2. **Sell Target**: Your first profit target for selling gold is at **2737**, and your second target is **2730**. 3. **Price Movement Expectation**: Even if gold briefly hits **2744**, you believe the price will eventually drop and come back down. The idea here is that you're anticipating a downward movement in the price of gold, with two specific levels where you expect to take profit. You're also considering the possibility of a slight upward movement, but ultimately, you believe gold will fall. --- Does this breakdown and translation meet your needs?
OANDA:XAUUSD
by BinSalmanFundsReal
XAUUSD: Bullish trendToday, gold has tested the support at the 2732-2728 range again. So far, the support remains intact, and the short-term trend is still leaning towards a bullish outlook. Based on this, the primary trading direction in the current session remains bullish. From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday. However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty. Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
OANDA:XAUUSDLong
by Mia-Signal
Gold Trading Insights Ahead of the Election!Although gold didn’t fluctuate much today, our returns were quite impressive! These small range movements create excellent opportunities for agile buying and selling. As I mentioned yesterday, the New York market did indeed decline today, and the buy signal I provided at the open hit the TP of 2745 perfectly. I then began selling, ultimately closing the trade at 2733 with great results. Tomorrow is the election, and I believe the results will boost the dollar, which could lead to a drop in gold prices. I plan to continue selling during tomorrow's New York session. What do you think?
FOREXCOM:XAUUSDShort
by Wealth_Waves
XAUUSD View!!Gold's rally may have run its course, UOB Global Economics & Markets Research's Quek Ser Leang says in a research report. Last week, gold formed 'Doji' pattern on weekly candlestick chart, which is typically perceived as a bearish signal, the markets strategist says. Crossover in weekly slow stochastics from overbought territory suggests downside risks are building. On the daily chart, gold broke below the three-month rising trendline support two sessions ago, with bearish divergence on daily MACD. However, any pullback will probably be choppy and potentially drawn out, with initial support at 55-day exponential moving average, which is now at $2,636/oz, the strategist adds. Spot gold is down 0.4% at $2,694.69/oz.
FOREXCOM:XAUUSDShort
by FXBANkthe8055