DNA_BrianTrading

DNA_BrianTrading Updated  May 31, 2023

Gold price is rising considerably on Tuesday, supported by a decline in government bond yields. If the price manages to consolidate above $1,950, it could provide some support for the bulls and potentially lead to a more sustainable recovery. The next resistance levels are seen at $1,970 and $1,980.

DNA_BrianTrading May 30, 2023

Forecasting the gold price trend, non-interest-bearing assets like gold tend not to be chosen by investors amid rising interest rates. The US Dollar Index also climbed near a two-month high and weighed on gold prices. A stronger dollar causes the yellow metal to fall in value against other currencies.

DNA_BrianTrading May 30, 2023

The XAUSUD precious metal market had a relatively lackluster start to the week, trading below $1,950/ounce while waiting for the vote on the debt ceiling agreement. A preliminary agreement on the debt ceiling in the US has eased concerns about default, which has weighed on safe-haven assets. The market continues to anticipate an interest rate hike in the US in...

DNA_BrianTrading May 29, 2023

The positive progress made by the US public debt ceiling before its due date on June 1 has caused a rapid decline in the value of gold. The precious metals market is currently waiting for the US Federal Reserve to adjust its interest rates. Recent macroeconomic data from the US shows an unexpected increase in inflation, which has led to speculation about whether...

DNA_BrianTrading May 29, 2023

The price of gold (XAUUSD) experienced a decrease of 5.2 USD on the first day of the week, falling below 1941 USD/ounce compared to the previous week's closing level. Despite a slight recovery in the last session of the previous week, gold has suffered losses for three consecutive weeks due to the market's expectations from the US Federal Reserve (Fed) to pause...

DNA_BrianTrading May 28, 2023

The gold market is seeing steady support from various central banks across countries. In the initial months of 2023, many countries have been steadily increasing their gold reserves. China has remained the largest buyer of gold since the beginning of the year, with the People's Bank of China (PBOC) having bought a net 8.1 tons of gold in April alone, marking its...

DNA_BrianTrading May 26, 2023

The price of the precious metal, XAUUSD, experienced a dip, reaching a low point in nine weeks. This was due to recent data indicating that the US economy is doing well. The positive data strengthened the possibility that the US Federal Reserve (Fed) may continue to pursue its current monetary policy. The US Dollar Index and US Treasury yields also contributed to...

DNA_BrianTrading May 25, 2023

Gold recently dropped below the 50% retracement of the March/May rally at $1,943.86 and hit a low of $1,930.20 during European trading hours. Although XAU/USD rebounded from this level, it is facing difficulty in regaining its position above it. The US Dollar is receiving support from the negative market sentiment and favorable US macroeconomic data....

DNA_BrianTrading May 25, 2023

Gold prices decreased today as negotiations for US government debt extension resumed. Earlier, the price of gold, XAUUSD, had gone up slightly due to a rise in safe-haven demand, as the deadline for debt default approached and talks remained at an impasse. The Federal Open Market Committee recently released minutes from its latest monetary policy meeting, showing...

DNA_BrianTrading May 24, 2023

Recently, gold has faced some challenges due to the increase in the value of the USD and an upsurge in real yields. As a result, gold prices have retreated from their recent highs and are approaching critical daily support levels. The primary concern here is if the trend of US rates becomes more aggressive, which could lead to a rise in the value of the USD and...

DNA_BrianTrading May 24, 2023

Investors are showing optimism in the medium to long term as gold prices make a rebound. This is due to the anticipation that the US Federal Reserve will ease its monetary policy after 10 consecutive interest rate hikes over the past 14 months, leading to a potential depreciation of the dollar. Despite concerns over inflation, positive data on the real estate...

DNA_BrianTrading Updated  May 23, 2023

Gold prices rebounded after falling to a 2-month low when Fed leaders gave reassurances on monetary policy. Fed Chairman Jerome Powell suggested that due to uncertainties in the banking sector, interest rates may not rise much, indicating a potential pause in rate hikes. This led to speculation that the Fed may not raise interest rates in June. As a result, gold...

DNA_BrianTrading May 22, 2023

Although the price of precious metals had been declining, it ended the week with a strong gain, raising investor hopes. Some US Federal Reserve officials opposed the idea of a June pause in raising interest rates, and the market is beginning to reverse its year-end rate cut bets. The first resistance is at $1,979 and then at $1,987, while solid support for gold...

DNA_BrianTrading May 22, 2023

Economic news last week is starting to support gold price. Now gold has started to recover from the low of 1950USD I will wait for gold to break out to create the Dow to enter orders Expectations for this uptrend will be 2010USD

DNA_BrianTrading May 22, 2023

Gold prices rebounded after hitting a two-month low following the Federal Reserve's dovish statements on monetary policy. Fed Chairman Jerome Powell suggested that there may not be a significant increase in interest rates due to credit tightening after the instability of the banking sector, hinting that the Fed may pause to raise rates. The US Dollar Index (DXY)...

DNA_BrianTrading May 20, 2023

Gold prices rose on Friday due to the fall of the dollar, which had hit a two-month high in the previous session. The Dollar Index, which measures the dollar's strength, dropped by almost 0.4% to 103.2 points. The US Federal Reserve Chairman (Fed), Jerome Powell, mentioned that inflation hasn't cooled down enough to pause rate hikes in June 2023. The market...

DNA_BrianTrading May 19, 2023

Gold prices dropped as the US Federal Reserve reported a decrease in business activities for the ninth consecutive month. This news, along with hawkish comments from Fed officials to control inflation, has significantly affected the price of gold, causing a surge in the USD index. Furthermore, if gold fails to hold technical support at 1950USD/oz, it could lead...

DNA_BrianTrading May 18, 2023

The world gold price plunged in the context of a strong dollar. The US Dollar Index (DXY) which measures the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) was at 103.007 points (up 0.27%). A combination of supportive factors pushed the US Dollar (USD) to its highest level in almost two months, which is expected to weigh...