China continues to purchase Gold, adding 23 Tons of the precious metal just the last month, according to the World Gold Council. Since November, China has accumulated more than 180 Tons of Gold, equating its official Gold State Reserves to around 2,136 Tons.
Amidst the revision of the Consumer Price Index (CPI) numbers to accommodate new seasonal adjustment factors, the XAU/USD faced bearish pressure, culminating in a 0.50% dip, closing the week around the $2,025 area. This development has heightened focus on the upcoming Consumer Price Index (CPI) figures from January, as market participants seek insights for...
FXOPEN:XAUUSD Resistance is at 2088, support at 2002, and bearish harmonic pattern targets have been identified on the chart. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck
Gold's recovery near $2,030 persists as the US Dollar adopts a sideways trend. Despite a less convincing pullback in Gold, traders have tempered expectations for a Fed rate cut in March. While the precious metal has rebounded significantly amid escalating Middle East conflicts, the short-term outlook remains cautious due to limited upside potential, influenced by...
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 When price declined from $1985 support level, it some time traded in support area, after which price made impulse up to $2045 level. Thereby Gold broke $1985 level and entered to rising channel, where it made at once a correction to support line. After this,...
On Thursday, Fed Chair Jerome Powell joined his teammates in endorsing a stable interest rate policy, providing further support for the XAUUSD. Amidst increasing geopolitical risks, with the conflict between Israel and Hamas spreading to more countries in the region, Gold extended its weekly rally and reached the $1,990 area for the first time in five months on...
Gold has had a great pullback, at this point it has met the great golden ratio. I am shorting this point to the 1830 zone where we have imbalance/gap. Use proper risk management. Oh and tgif setup is cooking. iykyk
In the latest twist of events, gold prices have experienced a significant downturn, marking the second consecutive quarterly decline. This decline, which initiated in August and persisted through September, reached a pinnacle this week, marking the most substantial drop in over two years. What's particularly noteworthy is gold's relinquishment of its stronghold...
Welcome back to another exciting episode of our weekly XAUUSD technical analysis! 📈 In the ever-evolving world of forex trading, gold seems to be holding its ground around the crucial $1,900 mark. 🔒 The recent surge in the U.S. Consumer Price Index (CPI) has sparked inflation concerns, making investors wonder about the Fed's next move. 📊 This week, we'll explore...
Gold's recent performance faced an unexpected twist, challenging the notion that a Fed rate pause could be its ticket to a breakout. Instead, the precious metal found itself in the shadow of its formidable rival, the US dollar. The preceding week had seen gold bask in the glory of the US non-farm payrolls report for August. Despite an employment gain of 187,000...
A rise from the November 2015 level of $1050 per ounce in Gold Spot may have ended at $ $2080 per ounce in May 2023. Over the next year and a half, a correction to $1500 per ounce is possible. Gold may rocket higher in wave 3 after bottoming near $1500 per ounce by the end of 2024.
Hello 500 Bros! The structure of XAUUSD is showing bullish signal again ( H1, H4 time frame). In the near term, I predict that XAU price could return to the 189x zone before a strong rally afterwards. Happy trading and thank you!
Gold is creating a cup and handle pattern, the current triple top will go up to 2400 in the next 2 years. 1800+ will be an excellent place to accumulate.
Looking at the chart above, you will see that the price is making a short pullback to the key level area. But I bet with you that this is the best time to shorten it by going down to the lower timeframe like H1 or m15. The price is still within the range of the pin bar candlestick. If you short this market, then the best area to place your stop is above the...
In the 1H time frame, we see the formation of a coffin pattern For the farewell ceremony with buyers who enter buy positions in resistance areas, please wear formal clothes thank you so much
Join us as we delve into a comprehensive price action analysis of the XAUUSD market in this video. With the gold price comfortably surpassing the $1,950.00 mark and the USD Index remaining weak, we examine the current market conditions. Investors are divided on whether the Fed will implement two more rate hikes this year, putting pressure on the USD Index....
Gold turned neutral again on its 1D technicals (RSI = 48.178, MACD = -10.040, ADX = 34.352) after the strong rebound at 1,924.70. This pushed the price back over the 4H MA50, even closed a candle over it but today's LL is a new bottom and technically calls for the emergence of a Channel Down pattern. This pattern's RSI has a clear Buy and Sell Zone. As long as...
Welcome to our Goldspot analysis for the week! Despite speculations suggesting otherwise, Gold is far from being dead after the U.S. debt ceiling deal has been finalized. Although futures of the yellow metal experienced a slight decline on Friday, breaking a three-day winning streak, the drop was not enough to erase the gains made in the previous days. As a...