Muhan_F1

Muhan_F1 Updated 

On Thursday, the US dollar index saw a slight decline but maintained its position close to a six-month high at 105.74 before ultimately losing its gains and closing down 0.06% at 105.38. In terms of US Treasury yields, the 2-year US Treasury bond yield initially rose from an opening of 5.2% but later dropped to close at 5.144% due to unexpected developments....

Muhan_F1 Updated 

On Wednesday, the Nigerian naira (NGN) performed the best among 20 global currencies we monitor, while the Russian rouble (RUB) showed the weakest performance. The US dollar was the strongest among major currencies, while the British pound (GBP) lagged behind. A hawkish stance from the Federal Reserve on Wednesday led to a rise in gold prices above $1,945...

Muhan_F1 Updated 

On Thursday, the US dollar index initially saw a slight decline but maintained proximity to its six-month peak at 105.74 during the session. However, it later relinquished these gains and concluded with a marginal 0.06% dip, closing at 105.38. In the realm of US Treasury yields, the 2-year US Treasury bond yield initially climbed, but subsequently retreated,...

Muhan_F1 Updated 

Growing concerns about a potential government shutdown in the United States and the deepening property crisis in China are boosting the value of precious metals. China Evergrande Group's decision to delay debt restructuring and the detention of some employees from its asset management unit by Chinese authorities have contributed to this uncertainty. China's more...

Muhan_F1 Updated 

Gold prices reached a two-week high with a 0.5% increase on Monday, despite a relatively uneventful economic calendar. Investors are closely watching upcoming interest rate decisions from several central banks. The Federal Reserve (Fed) is set to announce its decision tomorrow, followed by the Bank of England and the Swiss National Bank on Thursday, and the Bank...

Muhan_F1 Updated 

The current situation with gold (XAU/USD) has seen some challenges in recent months due to the strengthening of the US dollar. This rise in the US dollar has often led to a decrease in the price of gold, impacting the sentiment in the market. However, there are signs that this trend may be changing, and gold is starting to regain its strength relative to the US...

Muhan_F1 Updated 

The US dollar experienced its first weekly decline in two months, providing support to the price of gold. Gold managed to maintain its position above $1,900 per ounce and recorded a slight weekly gain. The most active gold futures contract on the New York Comex, set for December, closed at $1,946.20 per ounce, marking a daily increase of $13.30 or 0.7%. Over the...

Muhan_F1

Trading Strategy for Gold on September 15, 2023 Gold prices have shown a persistent decline throughout the month, with XAU/USD reaching as low as $1,901 following the European Central Bank's (ECB) announcement regarding monetary policy. However, the precious metal has since rebounded, influenced by positive sentiments in equity markets, although it remains in...

Muhan_F1

Trading Strategy for Gold on September 15, 2023 Gold prices have experienced a prolonged downtrend over the course of the month, culminating in XAU/USD trading at a nadir of $1,901 in response to the monetary policy pronouncements emanating from the European Central Bank (ECB). Subsequently, the precious metal staged a resurgence, ostensibly buoyed by sanguine...

Muhan_F1

Trading Plan for September 14, 2023 Gold prices have been up and down recently, mostly due to new U.S. inflation data. This data showed that prices in the U.S. are rising more than expected, which worries investors. When inflation is high, it can affect how attractive gold is as an investment. Here's the plan: If you want to buy gold (XAUUSD): Buy when the...

Muhan_F1

Trading Plan for September 14, 2023 Global gold prices have experienced considerable turbulence in the early hours today. Spot gold prices dropped by $4.5 to reach $1,908.2 per ounce, while the last recorded trading price for future gold was $1,932.5 per ounce, down by $2.6 compared to the previous morning. This has led to questions about how the latest U.S....

Muhan_F1

Gold prices increased on Monday, finding some relief as the value of the dollar declined in anticipation of crucial inflation data to be released later this week. Additionally, copper prices surged due to positive Chinese inflation data. Gold had experienced a significant drop the previous week, primarily due to concerns about persistent inflation and the...

Muhan_F1

Gold price is up on Monday as demand for the US Dollar fade into the background in a risk-on environment. XAU/USD traded as high as $1,930.70 a troy ounce, now changing hands at $1,924 as the initial optimism eased throughout the day. Stock markets bounced following weekend news suggesting decreasing economic trouble in Asia. On the one hand, China published the...

Muhan_F1 Updated 

Gold price resumes its downside journey, and tests territory below the crucial support of $1,920.00 as investors underpin the US Dollar as a safe-haven asset amid deepening global uncertainties and US ISM Services PMI outperformed expectations. The ISM agency reported a sharp increase in service activities to 54.5 vs. expectations of 52.5 and July's reading of...

Muhan_F1 Updated 

Gold price (XAU/USD) extends correction after a speech from Boston Fed President Susan Collins and upbeat US ISM Services PMI for August. Fed Collins cited that this phase of monetary policy calls for patience and policy decisions will be based on incoming data. The ISM reported a sharp increase in service activities to 54.5 vs. expectations of 52.5 and July's...

Muhan_F1 Updated 

Gold Price (XAU/USD) remains on the back foot for the fourth consecutive day even as the bears struggle to gain market acceptance ahead of the top-tier US data. In doing so, the yellow metal portrays the trader’s cautious optimism as full markets return after a long weekend in the US. That said, the doubts about China’s capacity to defend the economic recovery...

Muhan_F1

Gold Price floats firmly beyond the $1,930-32 support confluence comprising the Pivot Point one-day S2, 50-day SMA and 200-SMA on four-hour (4H). That said, a convergence of the Pivot Point one-day S1, Fibonacci 61.8% on one-month and the lower band of the Bollinger on the 4H restricts the immediate downside of the Gold Price near $1,935. In a case where the...

Muhan_F1 Updated 

TODAY FORECAST STRATEGY PLAN 1: SELL XAUUSD 1936 - 1940 Stop Loss : 1943 Take Profit 1 : 1930 Take Profit 2 : 1925 Take Profit 3 : 1920 PLAN 2: SELL XAUUSD 1945 - 1948 Stop Loss : 1952 Take Profit 1 : 1940 Take Profit 2 : 1935 Take Profit 3 : 1930 BUY XAUUSD 1920 - 1925 Stop Loss : 1917 Take Profit 1 : 1930 Take Profit 2 : 1935 Take Profit 3 : 1940