GOLD 23/4 Record price decline of two years
The world gold price just went through a bad session when it dropped to 68 USD/ounce after just one trading session. Investors sold off massively, causing the precious metal to quickly fall to close to $2,300 per ounce. Investors witnessed the largest single-day drop in more than three years. Gold futures price dropped sharply by 65.6 USD/ounce (equivalent to 2.73%), marking the sharpest decrease since February 2021
This restraint avoided a significant escalation of tensions in the Middle East, effectively allaying fears of a broader regional conflict. Market participants may now shift their focus to March's upcoming inflation data, which is the US personal consumption expenditures (PCE) report, is scheduled for release on Friday, April 26.
Currently, gold prices will still be greatly affected by interest rate management by the US Federal Reserve (FED). The market sees the possibility of the FED cutting interest rates in June as less than 20%. At the same time, the possibility of an interest rate cut in July has dropped below 50%.
After a sharp decline, gold is currently sideways for most of today's trading session around 2310. The market is waiting for PMI, New Home Sales, Richmond Manufacturing Index data to make gold escape the margin.
Resistance: 2320 -2325 - 2335 - 2350- 2366
Support: 2295 - 2285 - 2275 - 2256 - 2240
SELL price range 2325 - 2328
BUY price range 2285 - 2283
This restraint avoided a significant escalation of tensions in the Middle East, effectively allaying fears of a broader regional conflict. Market participants may now shift their focus to March's upcoming inflation data, which is the US personal consumption expenditures (PCE) report, is scheduled for release on Friday, April 26.
Currently, gold prices will still be greatly affected by interest rate management by the US Federal Reserve (FED). The market sees the possibility of the FED cutting interest rates in June as less than 20%. At the same time, the possibility of an interest rate cut in July has dropped below 50%.
After a sharp decline, gold is currently sideways for most of today's trading session around 2310. The market is waiting for PMI, New Home Sales, Richmond Manufacturing Index data to make gold escape the margin.
Resistance: 2320 -2325 - 2335 - 2350- 2366
Support: 2295 - 2285 - 2275 - 2256 - 2240
SELL price range 2325 - 2328
BUY price range 2285 - 2283
Trade active:
active support zone 2295 + 50 pips
Comment:
plan sell ruuning + 200 pips
Comment:
Gold is accumulating at the 2012 and 2030 margin
Comment:
Gold found its way back to 2305 today but the buying force is strong again
Trade closed: target reached
GOLD and Forex signals community.
t.me/+MZXet7nMsZRkNjY1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
t.me/+MZXet7nMsZRkNjY1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
Gold retreats modestly after failing to sustain gains despite fall in US Treasury yields, weaker US Dollar. XAU/USD struggles to capitalize following release of weaker-than-expected S&P Global PMIs, fueling speculation about potential Fed rate cuts.