Goldprice
XAUUSD: Thursday 13/6 Analysis and StrategyGold technical analysis
Daily resistance 2328-40, support below 2277
Four-hour resistance 2328-40, support below 2307-2277
Gold operation suggestions: On Wednesday, the US May CPI data was lower than expected. Gold was boosted by the unexpectedly weak US CPI report and hit the $2340 line. Later, it fell back due to the hawkish signal of the Fed's latest interest rate forecast, but the daily line still rose, rising for the third consecutive trading day. The gold daily line fell back after reaching a high. The daily line has experienced a rebound for three trading days. Yesterday, it was accompanied by a shock wash method of first touching the high and then under pressure. The previous rising neckline position of 2280~2290 will be repeatedly tested.
Although the overall price of gold has entered a rebound rhythm, 2340 will become a strong resistance area for short positions in the short term. If it rebounds to 2340, it will be bearish first. The support below is around 2307. Secondly, if the weekly support of 2277 breaks, it will look at 2200. The short-term watershed between long and short positions is 2340. Before the daily level breaks through and stabilizes this position, the suppression and bearish rhythm will continue to remain unchanged.
SELL:2328 near SL:2331
SELL:2340 near SL:2345
BUY:2277 near SL:2274
Technical analysis only provides trading direction!
XAUUSD - 15m Sell ScalpOn the 15-minute chart, XAUUSD is breaking below crucial support trendlines, suggesting an increased bearish momentum. The weakening support, indicated by the failure to sustain above these trendlines, points to a potential decline towards lower support levels.
Traders should be cautious as the breakdown may accelerate selling pressure, leading to further downward movement in the gold price.
Monitoring the price action closely around current levels could provide insight into whether the bearish trend will continue or if a short-term consolidation might occur before any recovery attempts.
[GOLD UPDATE] Channel BreakoutGold have break the channel and travelling down. Its on its way to touch $2,299. Once break that the next level will be $2,286.
Do trade with care as another major news is happening today.
Cheers all
Gold price "like never before changed" after CPIWorld gold fee at the night time of June 12 is set 12.eight% higher (265 USD/ounce) in comparison to the give up of 2023. World gold fee transformed via way of means of financial institution USD fee is at 72.1 million VND/tael, along with taxes and fees, approximately four.eight million VND/tael decrease than the home gold fee as of overdue afternoon on June 12.
World gold charges soared because the USD plummeted after the United States introduced anticipated monetary information.
The USD opened the buying and selling consultation on June 12 at the US New York marketplace (at the night time of June 12, Vietnam time) losing very sharply. The DXY index (which measures the dollar`s fluctuations in opposition to six foremost currencies) at the start of the consultation fell to 104.four points, from the preceding degree of above one zero five points.
The USD dropped after the United States introduced that the patron fee index (CPI) in May cooled quicker than economists predicted. Accordingly, the United States CPI index remained unchanged after growing via way of means of 0.3% withinside the preceding April. Economists had formerly forecast an boom of 0.1%.
The falling dollar reasons gold charges to boom sharply.
Compared to the identical period, CPI accelerated via way of means of 3.3%. This continues to be excessive in comparison to the 2% goal of the United States Federal Reserve (Fed). However, it makes buyers much less concerned approximately the opportunity of fee inflation escalating again. The 3.3% degree is likewise a lot decrease than 6.5% on the give up of 2022 and 9.1% in June 2022.
In May, US center inflation (except meals and strength charges) accelerated via way of means of 0.2%, decrease than the forecast of 0.3%.
Gold fee forecast
On Kitco, Michael Brown, an professional from forex brokerage Pepperstone, stated the contemporary inflation information may want to alternate psychology on the Fed in advance of the agency's financial coverage decision.
Adam Button, head of foreign money approach at Forexlive, stated that once the inflation information, alerts from the marketplace confirmed that the Fed could have hobby fee cuts this year, with an 80% chance. The first cuts will take region in September.
This additionally approach that because the USD depreciates, gold will benefit.
Gold fell after the FED kept interest rates unchanged in June💥Gold prices (XAU/USD) gained positive traction for the third straight day on Wednesday and touched a new weekly high, around the $2,341-$2,342 region as US consumer inflation figures softened slightly.
💥Gold then fell sharply after data from the US Federal Reserve (FED) signaled there would only be one interest rate cut this year. in a context where inflation is still far from target.
💥The change in the Fed's forecast led to a slight increase in US Treasury yields, supporting the US Dollar (USD) after its overnight bounce from multi-day lows and further weakening prices. Yellow
💥Gold support is approaching at 2282. Gold prices could accelerate the decline after the $2,285 horizontal support is broken. That said, any further decline is likely to find some Support near the $2,300 mark before the $2,285 horizontal zone. Some further selling activity will be seen as fresh trigger for bearish traders and leave XAU/USD vulnerable to accelerating the decline towards the next relevant support near the $2,254-2,253 region. If gold trades above 2325 today, it will soon find higher levels such as yesterday's peak resistance area at 2340 and higher at 2355.
XAUUSD:12/6 Today’s Analysis and StrategyGold technical analysis
Daily resistance 2340-70, support 2277
Four-hour resistance 2328-2340, support 2307-2277
Gold operation suggestions: Gold will continue to pay attention to the pressure near 2340 and 2370 during the day. As long as the market continues to run below this price, the overall structural trend will still be weak. Pay attention to the competition between long and short positions near 2277 during the day. Subjectively, we still expect gold to break this support again under the influence of fundamentals, bringing a new round of mid-line downward trend, but it is not easy to judge whether it can be established from a technical point of view. This requires attention to the impact of today's US CPI data and the Fed's interest rate decision.
Today, the lower support continues to focus on 2305-2307. If it falls back during the day, we will continue to be bullish. The upper pressure will be around 2328. Today, we will rely on this range to maintain high selling and low buying. In the short term, the gold price is expected to continue to exchange time for space to maintain the rhythm of wide range of fluctuations between bulls and bears. Before further breaking through the 2270 mark, we will maintain the range fluctuation approach.
SELL:2328 near SL:2331
SELL:2340 near SL:2345
BUY:2277 near SL:2274
Technical analysis only provides trading direction!
XAU/USD 13 June 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias remains the same as analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
Price has now printed a bullish CHoCH which indicates initiation of bullish pullback phase.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Previous intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation.
Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish iBOS following yesterday's 12 June 2024) US CPI data release.
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Price is reacting from discount of 50%.
Intraday expectation: Price to target weak internal high.
M15 Chart:
CPI and FOMC determine Gold price trend⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) is showing resilience below the $2,300 mark, with modest gains for the second consecutive day. Traders are eagerly awaiting the release of US consumer inflation figures and the outcome of the FOMC meeting, as these will provide insights into when the Fed will start cutting interest rates. This will have a significant impact on the future movement of gold.
⭐️ Personal comments NOVA:
Gold price recovered slightly before today's CPI and FOMC news. With the high possibility that interest rate data will continue to remain unchanged, Gold prices are likely to still recover. Pay attention to resistance areas for prices to react at $2325, $2340.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2323 - $2325 SL $2328 scalping
TP1: $2318
TP2: $2310
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2325
TP2: $2315
TP3: $2300
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
[Gold Update] $2,322 hit as expected.Gold have hit $2,322 as expected in the previous sharing. Next target $2,338. Pull back may occur along the way. Trade with care.
GOLD - Chinese investors - strongly influence gold pricesXAU - 14:00 June 12, 2024
In Asia, gold`s attraction maintains to bolster as call for for the valuable steel soars, while costs linger close to anciental peaks reached in May. Spot gold is presently buying and selling above $2,three hundred an ounce, reflecting a 12% growth considering the start of the yr and coming near its report excessive from remaining month through simply 6%.
The growth in gold purchases is thought to be because of a mixture of factors, such as geopolitical tensions and financial uncertainty. Investors are turning to gold as a hedge, with self belief waning in different funding avenues which includes actual property and stocks. Ruth Crowell, leader government of the London Bullion Market Association, factors out that cutting-edge developments ought to trade as soon as the macroeconomic surroundings stabilizes and different funding alternatives turn out to be greater attractive.
In Japan, optimism toward gold persists no matter excessive costs, with greater people favoring making an investment in gold than individuals who do not. Bruce Ikemizu, director of the Japan Bullion Market Association, mentioned bullish sentiment withinside the usa.
Chinese investors, going through demanding situations which includes foreign money devaluation, a extended droop withinside the actual property area and alternate conflicts, are an increasing number of making an investment in gold. The usa mentioned a 27% growth in purchases of gold cash and bars withinside the first region of the yr.
four hours ago
TRADING SUGGESTIONS:
XAUUSD BUY LIMIT 2303 - 2305
TP1 2316
TP2 2328
SL 2298
GOLD Shows Modest Gains Anticipation of US Inflation Data-FOMCGold, after modest gains over the past two days, trades with a negative bias during the early European session on Wednesday. This slight downturn, however, lacks momentum as traders await crucial US economic data releases later in the day.
Market Sentiment and Anticipated Economic Data
Traders are keenly focused on the upcoming consumer inflation figures from the United States and the outcome of the highly-anticipated Federal Open Market Committee (FOMC) meeting. These events are expected to provide new insights into the Federal Reserve’s plans regarding interest rate cuts, which will significantly influence the near-term trajectory of gold, a non-yielding asset.
Technical Analysis
From a technical perspective, the H4 timeframe shows a divergence on the Relative Strength Index (RSI), indicating potential bullish momentum. This divergence follows a rebound from a key demand or support area, suggesting that the recent downtick may be temporary. The technical indicators are aligning to potentially support a price increase, especially if the economic news aligns with expectations.
Economic Indicators to Watch
Consumer Inflation Figures: The latest US consumer inflation figures will be pivotal. Strong inflation data could imply sustained economic growth, potentially leading to a delay in interest rate cuts. Conversely, weaker inflation data might reinforce expectations for a more dovish Fed, supporting gold prices.
FOMC Meeting Outcome: The FOMC meeting is another critical event. Any indications from the Federal Reserve regarding the timing and pace of interest rate cuts will be closely scrutinized. A dovish stance from the Fed could weaken the US Dollar and bolster gold prices.
Potential Market Reaction
The interplay between these economic indicators and the market's reaction will be crucial. Should the inflation figures and FOMC outlook hint at a delay in rate cuts, gold may experience pressure due to a stronger US Dollar. On the other hand, dovish signals from the Fed could lead to a rebound in gold prices, aligning with the technical indicators suggesting a bullish impulse.
In conclusion, Gold is currently experiencing a modest downturn but remains poised for potential gains depending on the upcoming US economic data. The divergence on the RSI in the H4 timeframe supports a bullish outlook, contingent on the release of favorable economic news. Traders should be prepared for increased volatility and watch for key signals from the consumer inflation figures and the FOMC meeting to gauge the future direction of gold prices.
XAUUSD: 10/6 Analysis and StrategyTechnical analysis of gold
Daily resistance 2307-40, support below 2277
Four-hour resistance 2307-2340, support below 2277
Gold operation suggestions: Last Friday, the overall technical side of gold prices fell under pressure at the 2387 mark. The European session broke through the two integer mark supports of 2350 and 2340. Finally, under the negative influence of NFP data, the gold price fell straight down and broke through the 2300 integer mark in the US session, and closed near the intraday low of 2386. After nearly three weeks of repeated fluctuations around the 2315 mark, the overall price ushered in a short-seller pressure and fell to a new low. The short-term and medium-term moving averages completely entered the short-term pattern, and the short-term downward space was completely opened.
From the daily line analysis, today's upper short-term resistance is focused on 2307-2310. If it rebounds to this position during the day, it will continue to fall. The lower target continues to look at a new low. The short-term short-term weakness dividing line focuses on the 2340 line. Any pullback before the daily level breaks through and stands on this position is a short-selling opportunity.
SELL:2340 near SL:2343
SELL:2307 near SL:2310
BUY:2277 near SL:2274
Technical analysis only provides trading direction!
XAU/USD 12 June 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
Price has now pinted a bullish CHoCH which indicates initiation of bullish pullback phase.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Yesterday's intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation.
Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low.
H4 Chart:
M15 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bullish CHoCH which is indicative of bullish pullback initiation.
We are now trading within an internal high low.
Yesterday's intraday expectation was for price to print bullish CHoCH to indicate, bullish pullback initiation. Price to trade up to premium of 50% EQ, or, M15 supply zone before targeting weak internal low.
Bullish CHoCH has been printed.
Intraday expectation: Price to trade up to premium of 50% EQ or M15 supply zone before targeting weak internal low.
M15 Chart:
recovery to the DOWN trend ! retest XAU ⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) fell during the Asian session on Tuesday due to a fresh supply. This decline comes after a slight recovery from a one-month low caused by positive US jobs data. The decrease in bets for an interest rate cut by the Federal Reserve (Fed) in September has kept US Treasury bond yields high, strengthening the US Dollar (USD) and reducing demand for gold. Additionally, the People's Bank of China (PBoC) has significantly decreased its gold buying activities in May, ending a year-long buying spree. Despite this, political uncertainty in Europe and geopolitical risks could prevent further losses. Traders are advised to monitor the release of the latest US consumer inflation figures and the FOMC decision on Wednesday.
⭐️ Personal comments NOVA:
Short-term recovery at the beginning of the week - retesting the resistance zone. Sideway waiting for important FOMC information
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2278
TP2: $2284
TP3: $2292
🔥SELL GOLD zone: $2320 - $2322 SL $2325 scalping
TP1: $2315
TP2: $2308
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2330
TP2: $2320
TP3: $2310
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
XAUUSD UPTRENDXAUUSD UPTREND
Take the support and resistant zones into consideration, you can see that it's the best time to open long position.
Good luck :)
GOLD 4D TF BearishGold Market Outlook
Fundamental aspects
- Gold prices remain under pressure, continuing their bearish trend after a steep sell-off last Friday. Today, gold prices fell as the U.S. dollar strengthened. This rise of 0.1% in the dollar makes gold more expensive for holders of other currencies.
- Tomorrow we have CPI data. If the upcoming Consumer Price Index (CPI) report shows higher-than-expected inflation, the likelihood of the Fed delaying rate cuts could push gold prices below this level 2,277. Additionally, if the Fed’s dot plot indicates minimal or no rate cuts this year, gold could face further downward pressure.
- Considering the current strength of the U.S. dollar, the approaching CPI report, and the expected Fed stance on interest rates, the short-term outlook for gold remains bearish. If inflation data and Fed projections support a delay in rate cuts, gold prices are likely to break below the key support level of $2,277.34. Traders should stay vigilant and monitor these developments closely as they impact the gold market.
- The Federal Reserve’s June meeting with a policy decision expected on Wednesday. The Fed is widely expected to keep interest rates unchanged. However, economic projections are anticipated to show fewer rate cuts than previously expected due to persistent inflation. High interest rates reduce the attractiveness of non-yielding assets like gold, as investors prefer bonds and other yielding investments.
Technical View
The key level is 2,234. A sustained move under $2,344 will signal the presence of sellers. If this creates enough downside momentum, then look for the selling to possibly extend into the last swing bottom at $2,277.34. This could trigger an acceleration to the downside with the next target bottom at $2,146.15.
Gold 2305 short
In view of the large negative line closing last Friday, there is still room for decline in the short term, and the overall trend is still biased towards the bears. What is needed now is to wait for the bulls to pull back and then continue to fall. The key short-selling position above is maintained at 2303-05, which is basically equivalent to the first low point of the previous retracement and the quarterly line position of the daily line. The first target below will also be maintained around 80-70.
If you agree with my point of view, remember to pay attention, and leave a message if you have any questions
World gold price todayWorld gold charge today
World gold fees inched up barely with spot gold growing through 5.eight USD to 2,310.2 USD/ounce. Gold futures ultimate traded at 2,327.nine USD/ounce, up 2.nine USD in comparison to the day past morning.
After struggling the most powerful sell-off in almost 4 years because of stronger-than-predicted US employment information, global gold fees remained strong at the start of the week, even as traders awaited the financial coverage meeting. forex of americaA Federal Reserve (Fed) this week to similarly make clear the destiny coverage path of americaA Central Bank.
Market strategist Phillip Streible of Blue Line Futures stated that the gold marketplace this week could be very interesting as they watch for critical occasions and information, inclusive of tendencies on the June coverage meeting, stated. of the Fed Chairman along side the purchaser charge index file.
Currently, the marketplace is sort of sure that the Fed will now no longer make any modifications at this coverage meeting. However, statements from Fed Chairman Jerome Powell and modifications in financial forecasts from policymakers might also additionally effect the path of gold. Further facts awaited through the marketplace is US inflation information, predicted to be posted on Wednesday.
Senior Asia-Pacific marketplace analyst Kelvin Wong of OANDA stated that if the dot chart or americaA Central Bank`s hobby charge forecast suggests the opportunity of delaying hobby charge cuts, , the gold marketplace might also additionally witness every other robust sell-off, pushing fees down similarly.
Last week, gold bullion misplaced approximately $83/ounce (equal to 3.5%) on Friday, the largest drop in view that November 2020 after a brand new file confirmed the power of the hard work marketplace. US moves and information from the People's Bank of China display that the global's pinnacle purchaser stopped shopping for gold in May after 18 consecutive months of additions.
The jobs file has induced investors to another time extrade their expectancies approximately the timing and quantity of the Fed's hobby charge cuts. Accordingly, the opportunity of loosening financial coverage in September has reduced from 70% on the give up of Thursday to approximately 50%. Meanwhile, reviews from China have expanded issues that call for for this treasured metallic might also additionally decline withinside the close to destiny.
Will there be a short-term recovery in Gold?⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The People's Bank of China (PBoC) stopped buying gold in May, after 18 months of continuous purchases. This has weakened the price of gold. However, there is some support for the safe-haven XAU/USD due to a cautious market mood. Traders are hesitant to make aggressive bets before important US data and central bank events this week, such as the release of consumer inflation figures and the outcome of the FOMC policy meeting on Wednesday. Therefore, caution is advised before expecting further losses.
⭐️ Personal comments NOVA:
Gold price suffered a lot of bad news and broke many support zones. The downtrend and investors' psychology will cause the price to continue DOWN
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2280
TP2: $2290
TP3: $2300
🔥SELL GOLD zone: $2320 - $2322 SL $2325 SCALPING
TP1: $2315
TP2: $2307
TP3: $2300
🔥SELL GOLD zone: $2338 - $2340 SL $2345
TP1: $2330
TP2: $2315
TP3: $2300
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
XAU/USD 10 June 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
As mentioned in yesterday's analysis dated 09 June 2024, price may continue bearish which would bring bullish CHoCH closer to current price action.
Price has now printed this, allowing for a more realistic indication for bullish pullback initiation.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Intraday expectation: Price has now printed bullish CHoCH positioning closer to current price action, therefore, price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a double bearish iBOS.
We are now trading within an internal high and fractal low.
Intraday expectation: Price to print bullish CHoCH to indicate, bullish pullback initiation.
Price to trade up to premium of 50% EQ, or, M15 supply zone before trageting weak internal low.
M15 Chart:
GOLD - WILL CHINA STOP BUYING GOLD?WILL CHINA STOP BUYING GOLD?
“The nice US jobs file dealt a blow to gold euphoria. This file extinguished hopes that the Fed might quickly lessen hobby charges. The Fed nevertheless wishes to maintain hobby charges excessive to calm salary boom and the quantity of recent jobs created withinside the economic system,` Saxo Bank's head of simple commodity method Ole Hansen instructed the information agency. Bloomberg. However, Mr. Hansen stated that China simplest briefly stopped, now no longer absolutely stopped, shopping for gold, and that the PBOC briefly stopped shopping for internet gold in May simply due to report excessive gold costs.
China has been internet shopping for gold when you consider that November 2022, till final May, pausing, preserving the extent of gold reserves at 72.eight million oz - in keeping with authentic facts launched on Friday. China's buy of gold is a part of the fashion of internet gold purchases through imperative banks round the sector to diversify forex reserves withinside the context of risky international geopolitical tensions. In addition, PBOC's gold buying sports additionally take region withinside the context of China's economic system slowing down beneathneath the strain of a extended geopolitical crisis.
There were symptoms and symptoms that China's gold call for is weakening as gold costs rise. World Gold Council (WGC) facts confirmed that the PBOC internet sold 60,000 ozof gold in April, down from 160,000 ozin March and 390,000 ozin February. Additionally, China's general gold imports withinside the month four reduced through 30% as compared to March.
PBOC is the imperative financial institution with the biggest internet buy of gold in 2023, with a internet buy of 7.23 million oz. Therefore, China's discount and transient suspension of internet purchases of gold for country wide reserves places gold costs at considerable danger of decline.
However, speaking to Bloomberg, professional Nicholas Frappell of ABC Refinery in Sydney stated that the response of gold costs after the China information "appears to be technical in nature". “I might be amazed if China's pause in internet gold purchases opens up a preferred fashion for authentic area gold call for,” Mr. Frappell stated.
Gold on multi timeframeHello traders,
I would like to share my opinion on GOLD across multiple timeframes. It seems that the price is currently passing through the daily sell stops, and if it strongly closes below this zone in higher timeframe , the next level to watch would be around $2150.
To increase confidence in this analysis, it is advisable to wait for the completion of a pullback in the 1-hour timeframe before considering a short position.
However, it's important to closely monitor the price action, consider other technical indicators and market factors, and be aware of any news events that could impact the price of GOLD.
If you have any further questions or need clarification, please let me know.
