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What's next for Gold after $2,100 record? PCE report in sight What's next for Gold after $2,100 record? PCE report in sight As attention in the financial markets shifts towards the upcoming US Personal Consumption Expenditures (PCE) inflation report set for release on Friday, its significance becomes apparent. This report holds the potential to provide crucial insights into future monetary policy adjustments. Moreover, its outcomes could ripple across various sectors, influencing the strength of the US Dollar and impacting both the stock market and the value of gold. Looking at the daily chart for the XAU/USD pair reveals a potential upward tilt in risk. Notably, gold has recently achieved a historic milestone, surging to an all-time high of over $2,100 per ounce. While a minor correction followed, this event remains undeniably significant. Within this context, the Core Personal Consumption Expenditures (PCE) Price Index, the favored inflation measure of the US Federal Reserve, takes center stage. The annual PCE inflation rate in the US dipped to 3% in October 2023, a level not seen since March 2021. Projections for this Friday’s PCE report hint at a potential fall to either 2.8% or 2.9%. Notably, a failure to reflect moderation in these figures would signal that the economy is still operating at an elevated temperature, potentially indicating that any policy stance adjustment could be premature.
BLACKBULL:XAUUSD
by BlackBull_Markets
Gold continues to run slowly to wait for new breakthrough newsWorld gold prices inched up slightly as traders are waiting for important reports to know more signals about interest rates in the near future. World gold prices increased slightly this morning with spot gold increasing by 4.7 USD to 2,062.7 USD/ounce. Gold futures last traded at 2,040.7 USD/ounce, up 5.5 USD compared to yesterday morning. World gold fluctuated slightly in the first trading session of the week as investors waited for important US inflation data to be released at the end of the week to look for more signals about the Federal Reserve's interest rate direction. America after recent peaceful statements. According to Jim Wyckoff, senior analyst at Kitco Metals, 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. Wyckoff added that the fundamental factors keeping gold prices are a weakening dollar, looser monetary policy and some safe-haven demand from tensions in the Middle East.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold trading trends and strategies todayFocusing on technical analysis, XAU/USD retains a bullish outlook, although its upward journey may encounter temporary setbacks. This means there could be transient pullbacks in the uptrend, especially if overbought conditions are reached. We are not there yet, but the 14-day RSI indicator is heading in that direction, In terms of major levels to watch, resistance looms at $2,050. On further strength, the focus shifts to May’s peak near $2,075. Previous attempts to breach this barrier on a sustained basis have been unsuccessful, so history could repeat itself on a retest. However, if a decisive breakout materializes, a rally toward the 2023 swing high becomes a realistic prospect. On the other hand, if upside momentum wanes and sellers spark a reversal, the first line of defense against a bearish attack appears at $2,010. Maintaining this floor is crucial; a failure to do so could reinforce downward pressure, exposing trendline support near $1,990. Below this threshold, all eyes will be on the 50-day simple moving average. TVC:GOLD SELL 2038 - 2040 ✔️TP1: 2033 ✔️TP2: 2028 🚫SL: 2048
TVC:GOLDShort
by TinaTradingGold
XAUUSD - Trading strategy after CPI news on December 13World gold prices fluctuated slightly with spot gold down 1.3 USD to 1,979.5 USD/ounce. Gold futures last traded at 1,993.2 USD/ounce, down 0.5 USD compared to yesterday morning. Although the world gold price this morning was listed close to the level of yesterday morning, it has decreased sharply compared to the increase during the day. Specifically, gold plunged and lost the previous 0.5% increase after a new report was released showing that consumer prices in the US did not decrease in November. Inflation data was released first. The Fed's final monetary policy meeting in 2023. The market is expecting the US Central Bank to maintain interest rates at its meeting on Wednesday. The consumer price index (CPI) rose 3.1% year-on-year in November, in line with economists' expectations. November CPI increased 0.1% compared to the previous month. The dollar pared losses after the CPI data and made gold less attractive to holders of other currencies. Economists note that the latest inflation data could cause a shift in market expectations for an interest rate cut as early as March. US Federal Reserve officials ( The Fed) has emphasized that it needs to see a sustained downward trend in inflation before starting to reduce interest rates.
OANDA:XAUUSDLong
by FalCol_TradingMaster
PPI news trading strategyThe world's gold price today, December 13, continues to decrease when the US releases the latest emission data, creating motivation for the USD to increase in price. Gold prices today have not stopped falling in the context of the US announcing the annual consumer price index (CPI) in November 2023 increased by 3.1%, 0.1 percentage point lower than the previous month of 3.2. %. At the same time, the US also announced that annual core inflation in November 2023 increased by 4%, unchanged from the previous month and in line with market forecasts. Immediately, investors speculated that the US Federal Reserve would keep interest rates unchanged after concluding its meeting at dawn on December 14. In particular, many people have reduced their expectations that the FED will soon reduce interest rates in 2024. SELL XAUUSD 1990 - 1992 SL 2000 TP 1982 TP2 1973
OANDA:XAUUSDLong
by NicoTradingMaster
🚧Gold is Ready to Attack the Support zone🚧✅Gold managed to break its Ascending Channel last week. 🌊According to the theory of Elliott waves , Gold has completed a Zigzag(5-3-5/ABC) wave inside the ascending channel. 🔔I expect Gold to Fall at least to the 🟢 Support zone($1,960_$1,931) 🟢, and if this zone is broken, the next destination for Gold can be the Support lines . Gold Analyze ( XAUUSD ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
8
Trading strategy on December 12, priority to sellWorld gold prices dropped sharply with spot gold down 25.2 USD to 1,980.8 USD/ounce. Gold futures last traded at 1,997.3 USD/ounce, down 17.2 USD compared to yesterday morning. World gold prices slid due to pressure from the recovery of the USD and rising bond yields. The USD rose 0.2%, making gold more expensive for holders of other currencies. US 10-year Treasury yields also rose higher, increasing the opportunity cost of holding gold. Currently, investors wait for important meetings of several central banks. Specifically, the European Central Bank, Bank of England, Norges Bank and Swiss National Bank will also conduct policy meetings on Thursday. In addition, investors are also interested in data. US inflation data. This data is said to be able to influence the policy roadmap of the US Federal Reserve (Fed).
OANDA:XAUUSD
by FalCol_TradingMaster
XAUUSD - Short-term gold trading strategy, Gold goes up and downWorld gold prices tend to increase with spot gold increasing by 1.5 USD compared to last week's closing level to 2,006 USD/ounce. Last week, the yellow metal continuously plummeted after hitting an all-time high at the beginning of the week and anchoring nearly 2,000 USD/ounce. Kitco News' latest weekly gold survey shows most retail investors still expect prices to rise this week, while the majority of market analysts have turned bearish or neutral on the outlook. Short-term outlook for the yellow metal. Specifically, among Wall Street analysts participating in Kitco News's latest gold survey, only 20% forecast that gold prices will be higher this week, with more than half of experts predicting prices will decrease. Meanwhile, 59% of retail investors expect gold to increase. Retail investors expect gold prices to trade around 2,056 USD/ounce this week. This week, developments in monetary policy meetings of major central banks around the world will be closely watched by the market. Accordingly, the Federal Open Market Committee (FOMC) of the US Central Bank will meet on Wednesday, followed by the meeting of the Bank of England and the European Central Bank on Thursday. All three banks banks are forecast to keep interest rates unchanged, although investors will still be watching to see if there is a change in the tightening trend and their forecasts.
OANDA:XAUUSDLong
by FalCol_TradingMaster
The trend is decreasing, the current reasonable entry pointGold prices rose after the release of weaker-than-expected US ADP jobs data. Specifically, the US economy created 103,000 new jobs in November, much lower than the expected 130,000. The October figure was revised down to 106,000 from the previous estimate of 113,000. These figures follow Tuesday's JOLTS US Job Openings survey, adding to evidence that restrictive monetary policy is starting to weigh on demand for workers. On the other hand, the US ISM services PMI showed a larger-than-expected improvement, helping to negate a sharp slowdown in the US economy. CME Group's FedWatch tool is pricing in a more than 50% chance that the US central bank will cut its benchmark interest rate by 25 basis points in March. The market is in a moderately positive mood as investors grow increasingly confident that the major central bank tightening cycle is over.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Gold continues to fall deeply, the moves weaken goldWorld gold price continues to decrease by 15 USD/ounce, down to 2,020 USD/ounce. This is the third consecutive day of decline for the precious metal since reaching a record high at the beginning of the week The market waits for the US to release non-farm payroll data this weekend. The jobs report could affect the US interest rate outlook. Gold began to increase strongly when the market expected the US Federal Reserve (Fed) to cut interest rates as early as March. According to CME FedWatch Tool, markets forecast a 50% chance that the Fed will cut interest rates. rates in the first quarter of 2024. TD Securities experts said that market expectations for interest rate cuts may be premature and warned that gold's rally has exhausted itself.
OANDA:XAUUSD
by FalCol_TradingMaster
1
GOLD (XAUUSD) Structure Analysis & Key Levels 🥇 Here is my latest structure analysis for Gold. Horizontal Key Levels Resistance 1: 2142 - 2150 area Support 1: 1998 - 2009 area Support 2: 1963 - 1977 area Support 3: 1930 - 1938 area Vertical Key Levels Rising trend line - daily candle close below that will turn that trend line into a vertical resistance. My focus is on a trend line at the moment. We see a breakout attempt of that. Daily candle close below will be an important sign of strength of the sellers. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
1
XAUUSD - Rising sharply then reversing with a shock declineGold price today dropped shockingly in the context of the USD Index increasing 0.37 points to 103.64 points. This causes the value of the USD to decline compared to many other strong currencies. The international gold market falls into a disadvantageous position. On the other hand, gold prices dropped today when US bond interest rates increased to 4.4%/year. This factor has motivated many people to put capital into bonds. Meaning that money flowing into precious metals is limited. Since then, speculators speculated that the price of gold might go down, so they sold it to make a profit. The world gold price today at 6:00 a.m. on December 5 dropped to 2,030 USD/ounce. Previously, at the beginning of December 4, the world gold price sometimes reached a record level of 2,147 USD/ounce. The main reason is that financial investors are afraid of risks, so they increased their need to shelter capital in gold when the US said missiles fired by Houthi rebels in Yemen attacked three commercial ships in the Red Sea. 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.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GOLD (XAUUSD) ATH Ahead! What is Next 🏆 What a bullish week for Gold. The market closed approaching the ALL TIME HIGH! Here is your plan for next week. Bullish scenario: if the price breaks and closes above 2074 on a weekly, it will confirm the strength of the bulls one more time. A bullish rally will push the prices to 2200 then. Bearish scenario: The market may drop from ATH as it happened 2 times in the past already. Your bearish confirmation will be a bearish breakout of a support of a rising channel on a daily. It will drop the prices at least to 2010. Current geopolitical and macroeconomic situation strongly support a bullish scenario. BUT I always say that it is safer to wait for a confirmation. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
1
GOLD (XAUUSD): Technical Outlook & Important Decision Ahead 🥇 Here is my detailed analysis for Gold. As you can see, the market is trading in a strong bullish trend. The price is steadily growing within a rising parallel channel. After the price reached its resistance, it started to consolidate within a narrow horizontal range on a 4H. We are expecting a PMI report and Powell speech later on today. Depending on the news, I see 2 potential scenarios. Bullish scenario. Bullish breakout of the resistance of the range - 4H candle close above may signify the strength of the buyers. A bullish continuation will be anticipated to 2060 then. Bearish scenario. The price may respect the resistance of the range and drop from that, extending the consolidation. Monitor the reaction of the price to that, and wait for a bearish pattern to sell. I would suggest strictly waiting for the news first. I will post the update then. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
8
🥇Gold Roadmap🥇⏰(15-minute time frame)⏰🏃‍♂️Gold has been moving in an Ascending channel for several weeks . 🏃‍♂️Gold is currently near 🔴 Heavy Resistance zone($2,075.20.40_$2,035.20)🔴 and 🟡 Price Reversal Zone(PRZ) 🟡. 🌊According to Elliott's wave theory , Gold seems to be completing the main wave 3 . 🔔I expect the main wave 3 in 🟡 Price Reversal Zone(PRZ) 🟡to end and Gold to start falling again to the lower line of the ascending channel. ❗️⚠️Note⚠️❗️ : The structure of microwave 4 from the main wave 3 can have different structures . Gold Analyze ( XAUUSD ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, anbd Trade safe.
OANDA:XAUUSD
by pejman_zwin
13
XAUUSD - Gold prices continue to increase sharplyWorld gold prices stabilized with spot gold increasing by 2.2 USD to 2,042.7 USD/ounce. February gold futures last traded at 2,065.2 USD/ounce, up 5 USD compared to yesterday morning. The yellow metal was mildly volatile and had little reaction after the latest report showed the strength of the US economy in the third quarter. Specifically, according to the Bureau of Economic Analysis, US GDP in the third quarter increased by 5.2%, up from the estimate of 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. Additionally, gold will still benefit from safe-haven demand due to concerns related to geopolitical tensions. Given those factors, SocGen analysts see a push above $2,000 as the start of a larger recovery that could keep gold prices at around $2,200 an ounce in 2024.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Will gold continue to rise, strategy to buy GoldWorld 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. World gold prices in the evening session of November 23 (Vietnam time) were stable during the Thanksgiving holiday. Analysts do not expect to see many price increases for the rest of the week as most traders are currently focused on this holiday and the "Black Friday" shopping festival. Entering the holiday season, the gold market could not maintain a new increase above 2,000 USD/ounce as the market continued to monitor the minutes of the latest policy meeting from the US Federal Reserve (Fed). Although the central bank left interest rates unchanged in its latest meeting, the minutes showed the committee was maintaining a hawkish stance as it expected to keep interest rates restrained for the foreseeable future. Since late last week, gold has been strongly supported as expectations that the Fed has completed its interest rate hike cycle have been increasing after a series of published reports showing cooling inflation. Wednesday's hawkish Fed minutes and Wednesday's strong labor market data made investors hesitant to predict the Fed's next monetary policy move. Rising expectations that the Fed will keep interest rates “higher for longer” and a decline in the likelihood that it will begin cutting rates in the first half of 2024 have limited gold's gains. Despite this, some experts still maintain optimism that gold prices will eventually move higher as seasonal factors could play a larger role in price action and be positive for gold.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Xauusd:2008 strong resistance Key indicators of changes in market sentiment on Wednesday also included a report of a decline in the number of people applying for unemployment benefits, which hit a five-week low of 209,000 (lower than the expected 225,000), indicating a tightening labor market.In addition, the University of Michigan's inflation expectations report is even worse. The report emphasizes that consumers expect the inflation rate to be about 3.2% in the next five years, and U.S. consumers still believe that the inflation outlook is higher.This forecast is closely watched because it may affect the Fed's interest rate decision and reflects people's continued concerns about inflation if expectations continue to be high.On Thursday and Friday, Thanksgiving Day in the United States, the US market will be closed early Gold reached its highest level in 2006 yesterday, and has not broken through 2008 for 4 consecutive times, so it can be judged that the resistance here in 2008 is very strong. As can be seen from the chart, the volatility range of gold is getting smaller and smaller A series of economic data released yesterday is the Lido dollar index. The US index has risen from 103 to 104.2. It is possible to reach the bottom. As a reverse indicator of gold, it is not conducive to the continued rise of gold. So as long as gold rebounds above 2000, you can still choose to sell. You need to observe the support strength of 1985-1987 and strictly do a good stop loss, so that your success rate will be greatly increased. If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
Gold Route Map UPDATEHey Everyone, Yesterday we had price retrace down into support structure and we said we were expecting a reaction on this zone for a bounce for over 60 pips. - This played out perfectly for the bounce Price will now bounce between the range 1989 and 2003. A retest at 2003 followed with a cross and lock will open the range above. A cross and lock below 1989 will open 1978 and a cross and lock below 1978 will confirm further movement down. Our levels are still valid to track and trade the movement up and down. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 1978 - DONE 1989 - DONE EMA5 CROSS AND LOCK ABOVE 1989 WILL OPEN THE FOLLOWING BULLISH TARGET 2003 - DONE 2018 BEARISH TARGETS 1978 - DONE EMA5 CROSS AND LOCK BELOW 1978 WILL OPEN THE RETRACEMENT RANGE 1965 - DONE EMA5 CROSS AND LOCK BELOW 1965 WILL OPEN THE SWING RANGE SWING RANGE 1935 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
XAUUSD - On Bank Holiday, gold tends sidewaysWorld gold prices this morning decreased slightly with spot gold down 8.1 USD to 1,989.6 USD/ounce. Gold futures last traded at 1,991.8 USD/ounce, down 9.8 USD compared to yesterday morning. The precious metals market in the trading session before the Thanksgiving holiday was under slight selling pressure when the latest report showed a surprise improvement in the US labor market. According to a report by the US Department of Labor, weekly applications for unemployment benefits decreased by 24,000 to 209,000 in the week ending November 18, down from the previous week's upwardly revised estimate of 233,000 applications. The latest labor market data was much better than expected as experts estimated 225,000 applications. After the report, the dollar recovered from its lowest level and Treasury yields pared earlier losses, pushing gold off the key psychological threshold of $2,000 an ounce. The US Dollar Index has risen to a daily high and that is limiting some gold buying demand, said senior analyst Jim Wyckoff at Kitco Metals. However, experts say that gold's decline has been limited by recent expectations that the US Federal Reserve (Fed) has ended its interest rate hike cycle. Lower interest rates typically boost gold prices because they reduce the opportunity cost of holding non-yielding assets. Previously, gold bars reached a 2-week high of 2,007.29 USD/ounce.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1