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Xau_usd

XAU/USD what to expect?!Despite dollar weakness, XAU/USD lacks bullish conviction on the prospect of aggressive monetary policy tightening by global central banks, including the Federal Reserve. Indeed, the US central bank will say last week that it will raise interest rates at a faster pace at its upcoming meetings to rein in rising inflation. This could continue to act as a tailwind for US bond yields and the dollar. It's worth recalling that the rate-sensitive two-year US government bond yield rose to more than a 15-year high on Monday and the benchmark 10-year Treasury yield to the highest level. since April 2010. This supports the prospect of some buying on dollar declines. Aside from this, the risk boost could help keep a cap on any significant upside for non-yielding gold. Even from a technical point of view, Friday's break below the support of a one-week trading range around the $1,654 area favors the bears. This, in turn, suggests that any further move higher could still be seen as a selling opportunity. The data could be of little use to give a new impetus. However, XAU/USD appears to have snapped a two-day losing streak for now and remains at the mercy of dollar price dynamics. Aside from this, US bond yields and general market risk sentiment could allow traders to take advantage of short-term opportunities around gold. If the breakout of $1,608 is not confirmed, we will return to $1,700. For now, everything points to a rise in the dollar due aggressive rises in bank interest rates.
COMEX:GC1!
by Deal2TP
Important support level for goldThe price is currently in a descending channel, it has broken the channel once with an unsuccessful break from the bottom and returned to the channel again. It is currently on an important support level and it can be expected to rise and hit the ceiling of the descending channel. If this level is broken, the movement continues with the descending channel. Suggestion: 1. You can now buy and stop below the horizontal support level 2. If this level is broken, you can take a sell position until the bottom of the descending channel 3. If the roof of the channel is broken, first consolidation should be seen, then a strong rise
FOREXCOM:XAUUSDLong
by Reza_kahe
1
A cup of coffee with your chart of gold?On the weekly chart it looks like a typical cup and handle pattern forming. Inflation is coming, there's little doubt about that. Both inflation linked and nominal bond yields are unattractive. Bitcoin is being used as an inflation hedge for those who venture into that world but many institutional investors, governments and even traditional retail investors are reluctant to go the bitcoin route which means that precious metals becomes one's inflation hedge (this excludes equities). Gold is the most notable of the precious metals. Fundamentally gold should increase as inflation begins to spike and in the context of a low interest rate world, gold tends to be a potential strategic long term hedge. If the dollar index starts to weaken i would also expect the price of gold to increase as people and institutions try to protect the debasement of their currency. This plays into the reflation idea. The trading signals are also suggesting that gold has bottomed out for the time being and therefore adds credence to cup and handle pattern. Please like and follow for daily posts on various asset classes. Please also share your views on the trading ideas and whether or not you find them to be of any value to you as a trader. Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
TVC:GOLDLong
by JesseMorgans