Russia-Ukraine tensions appear to be spreadingRussian President Vladimir Putin today, November 22, announced that the test of a medium-range missile complex carrying an Oreshnik supersonic warhead was successful. A day earlier, Russia attacked the Southern Machine Manufacturing Factory (Yuzhmash) in Dnipro (Ukraine), saying this was a move in response to Ukraine's use of ATACMS missiles supplied by the US with Storm Shadow missiles from the UK.
This week, gold prices increased by 5.7% - recording the strongest weekly increase since March 2023 - when the local banking crisis in the US broke out. The price has increased for 5 consecutive versions, for a total of more than 170 USD.
Gold is the preferred tool during any political, economic upheaval and low interest rates. The price went up despite the Dollar Index reaching a 2-year peak today and Bitcoin setting a new record at 99,768 USD per coin.
The gold market also ignores that the probability of the US Federal Reserve (Fed) easing monetary policy next month is gradually decreasing. Investors currently forecast that the possibility of the Fed cutting interest rates is only 53%, down sharply from 82% last week.
🔥 XAUUSD BUY 2672 - 2670🔥
💵 TP1: 2680
💵 TP2: 2690
💵 TP3: OPEN
🚫 SL: 2660
Gold-trading
Despite the barrier of USD price increase, GOLD still increasesThe latest US weekly macroeconomic data showed 213,000 new unemployment claims, down sharply from the previous week. This further increases the market's expectation that the US Federal Reserve (FED) will further lower interest rates in December.
In response to this information, the USD–Index surpassed the 107 point mark, meaning the USD increased in price very strongly, which could have a negative impact on the gold market.
However, today's gold price continues to increase. The reason for the Russia-Ukraine military conflict is still tense. Investors look to gold for a safe haven for capital.
🔥 GOLD SELL 2698 - 2700🔥
💵 TP1: 2685
💵 TP2: 2675
💵 TP3: OPEN
🚫 SL: 2708
🔥 GOLD BUY 2673 - 2675🔥
💵 TP1: 2685
💵 TP2: 2695
💵 TP3: OPEN
🚫 SL: 2668
World gold prices rebounded strongly as tensions escalatedGold prices increased due to bottom-fishing demand skyrocketing in the context of increasing Russia-Ukraine tensions. President-elect Donald Trump is unlikely to end the Ukraine conflict soon after coming to power on January 20.
Currently, investors' attention is also focused on some officials of the US Federal Reserve (FED), who are expected to give speeches this week. Market expectations for a December rate cut have dropped significantly, with odds now at 55.7%, down from 82.5% just a week ago.
Ms. Lisa Cook - member of the FED Board of Governors said that the country's inflation continues to decline, with wages and the job market "cooling down", rising prices mainly in the housing sector. With this trend, the FED's continued interest rate cuts are considered still appropriate. However, she did not confirm the possibility that the FED will cut interest rates at its next meeting in December.
Goldman Sachs - one of the world's leading investment banks, has just raised its gold price forecast to 2,900 USD/ounce, about 89.2 million VND/tael in early 2025, an increase of 200 USD compared to the previous forecast. there.
🔥 XAUUSD SELL 2698 - 2700🔥
💵 TP1: 2685
💵 TP2: 2675
💵 TP3: OPEN
🚫 SL: 2708
🔥 XAUUSD BUY 2673 - 2675🔥
💵 TP1: 2685
💵 TP2: 2695
💵 TP3: OPEN
🚫 SL: 2668
The yellow precious metal recovered as the USD weakened.The yellow precious metal recovered as the USD weakened. The DXY index measuring the greenback's strength fell to 106.21 points. However, US Treasury bond yields continue to rise, leading many experts to limit gold's gains.
According to analyst James Hyerczyk at FX Empire, the gold recovery occurred when the USD temporarily paused below its highest level in a recent year, making gold more attractive to investors who do not use it. Use USD.
Hyerczyk emphasized that the 2,604.39 resistance mark is “an important technical level” that traders are watching closely. “If this level is sustained, the price could rally sharply, towards the 50-day moving average at 2,653.63 and the retracement zone from 2,663.51 to 2,693.40,” he said. However, Hyerczyk warns that if there is renewed selling pressure at higher levels, this could indicate continued downward pressure on gold prices.
Conversely, he said a fall in gold prices below 2,536.85 would signal weakness and the potential for a deeper decline towards the 200-day moving average at 2,403.46. He also added that traders will closely monitor comments from Fed officials this week for a clearer view of monetary policy. “Upcoming US economic data, such as housing and manufacturing reports, will also influence the direction of gold prices,” he said.
XAU/USD: Is the Bull Run Over? Gold's recent dip to a two-month low has raised questions about whether its rally has run its course.
Technical indicators suggest the metal could see further downside, with key support around $2,540 aligning with the 100-day moving average and highs from August.
Also, we have weak (but growing) expectations that the Federal Reserve will push back its easing cycle due to fiscal policies under Trump. Additionally, we have U.S. annual inflation ticking up to 2.6% in October from 2.4% the prior month.
Traders now estimate a 60% probability of a December rate cut, down from 80% pre-election, reflecting heightened caution over policy shifts and inflationary pressures.
Gold's long-term trend is still forecast to increase in price.Geopolitical tensions are expected to cool down under Donald Trump. And the US economy will attract international capital flows. Cash flow poured heavily into many high-risk assets such as the stock market, cryptocurrency market,... thereby putting more pressure on gold.
However, in the medium and long term trend, gold is still forecast to increase in price. Many organizations have not changed their forecasts that gold will reach 3,000 USD/ounce by 2025.
Many experts believe that public debt, leverage and extreme taxes of Mr. Donald Trump have the ability to bring gold prices back to before. After a period of time, many private investors will overcome the debt situation and the pressure to control the US budget. Gold will then increase again.
With the recent sharp decline, it is likely that bottom-fishing demand from the "big players" in the market will increase again. China has stopped buying gold for 6 consecutive months, but may return to buying when prices fall deeply. China, Russia and many other countries are still accelerating the process of reducing the proportion of reserve assets denominated in USD.
🔥 OANDA:XAUUSD BUY 2590 - 2592🔥
💵 TP1: 2600
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2583
🔥 OANDA:XAUUSD SELL 2628 - 2630🔥
💵 TP1: 2620
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2637
Gold continues to decline according to the technical chart.Gold prices continue to decline according to the technical chart. World gold prices dropped sharply last Wednesday after Mr. Trump won the election to the White House.
The USD skyrocketed after this event, and the gold market experienced sell-offs. Bond yields rose as investors worried that the tariffs and tax cuts that Mr. Trump promised before his election could cause inflation to rise again.
Morrison said, USD and interest rates increased. Gold prices fell sharply and found a bottom, then increased slightly in the last session of the week, gold was under strong selling pressure. Gold prices hold support from 2,635 to 2,675 USD/ounce. This is the resistance level of gold prices in the last week of September and early October.
This week, the market is interested in some economic information such as US core CPI - data for the Fed to monitor inflation, weekly unemployment benefit data, US retail sales,... Owner Fed Chairman Jerome Powell will also speak on Thursday.
According to Adam Button, Director of Currency Strategy at Forexlive, the market is watching who will be America's next finance minister. He expects the price of gold to increase again if John Paulson is chosen, because he is a gold price speculator.
Gold price today, November 8: Reversing to go upGold prices jumped today as the US Federal Reserve (FED) cut interest rates by 0.25% as the market had predicted. Accordingly, the US base interest rate fell to 4.5-4.75%. This is the second time in 2024 that the FED has cut interest rates to reduce inflation to the 2% target and boost economic growth.
Lower interest rates have put pressure on the value of the USD and bond yields to fall, after rising sharply on November 7 - the time Donald Trump was elected US President. Since then, gold prices have become attractive to investors.
Bloomberg news agency reported that central banks around the world are concerned that Mr. Trump's policies could lead to slower global economic growth and higher inflation.
Analysts say that in the long term, the world gold price will continue to heat up because President Donald Trump intends to impose high import taxes. At that time, the price of goods in the US will increase, affecting inflation, causing the USD to depreciate, pushing the price of gold up.
🔥 XAUUSD BUY 2683 - 2681🔥
✅TP1: 2690
✅TP2: 2700
✅TP3: OPEN
🚫SL: 2675
World gold was sold off and plummetedGold sold off and plunged to its lowest level in 3 weeks after the unexpectedly decisive victory of Republican US presidential candidate Donald Trump.
The Federal Reserve's FOMC meeting appears to be overshadowed but also in the spotlight this week. The meeting began Wednesday morning and ended Thursday afternoon with a statement from the FOMC and a press conference from Fed Chairman Powell. Most people believe the Fed will cut its key interest rate by 0.25%.
“While the market expects a 25 basis point rate cut, any sign of a pause or slowdown in cuts will put further pressure on gold, which is already sensitive to rising interest rates and a stronger dollar",
“With a stronger dollar and rising yields, gold faces immediate downside risks, potentially extending towards the 50-day moving average at $2,636.66 an ounce if the Federal Reserve State signals more caution about future interest rate cuts.”
This puts a lot of pressure on Gold and we can completely believe that gold will fall even deeper
🔥 XAUUSD BUY LIMIT 2649 - 2647🔥
✅TP1: 2660
✅TP2: 2670
✅TP3: OPEN
🚫SL: 2638
🔥 XAUUSD SELL LIMIT 2676 - 2674🔥
✅TP1: 2665
✅TP2: 2655
✅TP3: OPEN
🚫SL: 2685
Will Gold Hold at 2630? Key Levels for Bulls and BearsI'm eyeing a sell opportunity in gold (XAUUSD) , targeting the 2660 level for an ideal short entry. The price is expected to dip towards 2630 , a significant support zone, where a potential reversal could occur. If the market finds strength there, we may see a bounce as buyers step in.
Geopolitical tensions continue to support gold's safe-haven appeal, but a stronger dollar or global risk-off sentiment may keep downward pressure in the short term. Monitoring price action closely around these levels for potential setups.
The world gold price suddenly went into limboMarex analyst Edward Meir said: "Investors are buying when gold prices are on the rise. This strategy was maintained throughout the US election because there was a lot of volatility."
Ms. Kamala Harris - Vice President of the Democratic Party - currently has a support rate of 46%, temporarily leading former President Donald Trump who has a support rate of 43%.
Gold prices rose more than 4% in October as investors poured money into safe assets, partly due to tensions in the Middle East and uncertainty in the US election. Markets are now focusing on the US nonfarm payrolls report for clues about the health of the world's largest economy.
Traders see a 95% chance that the US Federal Reserve (Fed) will cut interest rates by 25 basis points next week, according to CME's FedWatch tool. Zero-yielding gold thrives in a low interest rate environment.
Data just released US labor costs recorded the smallest increase in more than three years in the third quarter, while the number of Americans filing new unemployment claims fell to a five-month low last week. before.
Even as the Fed ramps up adjustments, gold still risesGold Talking Points:
I went over gold in-intensity in yesterday`s webinar, and this morning updates given the metal`s persevered charge motion with bulls pushing as much as some other ATH simply interior of the 2790 degree.
The contemporary pullback feels just like the earlier episode, whilst gold stalled in advance of a check of the 2700 mental degree. In that iteration, expenses then constructed a bull flag formation as 3 weeks of sideways grind regarded earlier than consumers had been in the end capable of pressure a push up and thru the subsequent large discern at 2700.
The banner 12 months for gold has persevered and this morning delivered but some other sparkling all-time-excessive into the mix. At this point, charge held highs simply about $10 interior of the subsequent important mental degree of 2800 and this resembles closing month`s episode whilst gold bulls shied farfar from 2700, at the least initially. The excessive then held at 2685 and a bearish channel advanced thereafter, which, whilst all for the earlier bullish fashion made for a bull flag formation.
Given the resistance that has been in region so far, simply across the 2800 degree, I assume this is the subsequent degree that wishes to be accepted. And we formerly had reputation on the 2750 degree after guide confirmed there, which is clear at the two-hour chart below. So, ideally, any corresponding retracement will stay above the preceding better low to hold the door open for bullish momentum setups.
Gold futures prices have reached a new all-time highThe first factor that draws interest at the every day chart is the breakout above the top border of the pink consolidation (…)
What does this suggest for gold futures?
The capacity bullish situation should take the rate to the $2,800 barrier or maybe around $2,825, wherein the dimensions of the rally could correspond to the pinnacle of the cited pink consolidation.
From the cutting-edge factor of view, we see that the scenario evolves in keeping with the above situation and the shoppers have done the primary goal cited in advance today.
Thanks to this rate movement, gold futures fees additionally reached a brand new document excessive of $2,801.65.
However, given the breakouts cited above throughout all 3 formations, we should see a upward push to around $2,786, wherein the dimensions of the rally could correspond to the peak of the consolidation brown (2d upside goal). At this factor, it's far really well worth noting that during this place there may be additionally the 127.2% Fibonacci extension level (primarily based totally at the October 23 excessive and low), which serves as technical resistance. Therefore, it's far really well worth looking the conduct of the bulls on this place - mainly whilst we keep in mind the closeness to the formerly damaged decrease border of the very brief grey uptrend channel term (presently at around $2,787.30), which can entice dealers to the exchange.
Gold Price Maintains Uptrend With EMA SupportGold is currently trading around $2,787/ounce, supported by the EMA(34) and EMA(89), indicating that the uptrend is dominant. The chart shows that the price is in a stable uptrend channel, with strong buying pressure.
The nearest resistance level may create a short-term correction, but if the price continues to break and maintain above the EMAs, the long-term uptrend is likely to continue.
The driving factor for gold's rise comes from the upcoming US presidential election on November 5, raising concerns about the possibility of political instability. The market is reflecting these concerns by increasing demand for gold - a safe-haven asset amid geopolitical risks.
World gold prices increased again, towards 2,800 USDSince the beginning of the year, gold prices have increased more than 34%, due to the conflict in the Middle East, the US Presidential election and the US Federal Reserve (Fed) reducing interest rates. Investors are currently waiting for a series of US economic data to be released this week, including the employment report and the personal expenditure price index (PCE) - the Fed's favorite inflation measure. These data may impact the Fed's interest rate decision at its meeting on November 7.
Markets currently place the probability of a Fed rate cut of 25 basis points (0.25%) next month at 98%. "Gold prices will still tend to increase, possibly even to 2,800 USD in the next few days, because the US election is still putting pressure on the market and the possibility of the Fed reducing interest rates is almost certain," Han Tan - market strategist at Exinity Group said.
🔥 XAUUSD Sell now 2778 - 2780🔥
✔️ TP1: 2760
✔️ TP2: 2750
✔️ TP3: OPEN
🚫SL: 2786
Gold price forecastWorld gold prices increase when the USD index decreases. Recorded at 9:00 a.m. on October 30, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,114 points (down 0.02%).
According to Kitco, world gold prices increased sharply, breaking the threshold of 2,780 USD/ounce when receiving many supporting factors. In one week, Americans will officially go to the polls to elect a new Congress and president. Information surrounding the election fueled instability in financial markets, causing investors to turn to gold as a safe-haven asset.
Increased safe-haven demand for gold has helped push gold prices toward all-time highs.
Today, several economic data could affect gold prices, including ADP employment data, third quarter GDP and US pending home sales. Monetary policy decisions of the Bank of Japan.
Economic data to watch this week include core PCE, personal income and spending and US weekly jobless claims on Thursday and US nonfarm payrolls and PMI measures manufacturing sector's economic performance on Friday.
🔥 OANDA:XAUUSD Sell now 2778 - 2780🔥
✔️ TP1: 2760
✔️ TP2: 2750
✔️ TP3: OPEN
🚫SL: 2786
Gold Price Rises Strongly Amid US Political Uncertainty ConcernsBased on the current factors, I see gold prices in an uptrend and trading within a solid bullish channel, with the EMA (34) and EMA (89) supporting below. The main driver is political uncertainty in the US, along with concerns about fiscal deficits and safe-haven demand amid geopolitical tensions. News of hedge funds buying an additional 15 tonnes of gold last week further reinforces this trend.
Currently, the price is at $2,778/ounce, but if it approaches the upper resistance line of the bullish channel, the price may correct slightly before continuing the upward trend. However, if the political situation continues to escalate, the possibility of breaking the resistance and reaching higher levels is very high.
XAUUSD Waiting for Rising Wedge BreakoutBased on the chart of XAUUSD, I see an ascending wedge pattern forming, with the possibility of a strong price increase upon breaking the resistance. The EMA(34) and EMA(89) are still below, supporting this uptrend. If the price continues to stay within the wedge pattern and then breaks above, we can expect a strong increase to the $2,800 area or higher.
Gold prices are influenced by inflation risks and political.World gold prices decreased slightly when the USD index increased. Recorded at 9:15 a.m. on October 28, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,357 points (up 0.22%).
Nine analysts participated in Kitco News' gold survey. Last week's near-bullish consensus has narrowed. 5 experts expect gold prices to increase this week, while another 2 experts expect the price of this precious metal to decrease. The remaining two analysts remain neutral on gold's short-term prospects.
Meanwhile, 213 votes were cast in Kitco's online poll. The majority of Main Street investors believe that gold has an upward trend. 126 traders expect gold prices to increase this week. There are 47 people who expect precious metals to decrease. The remaining 40 investors said that prices will tend to move sideways this week.
🔥 XAUUSD Buy limit 2714 - 2712 🔥
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2706
➖➖➖➖➖➖➖➖
🔥 XAUUSD Sell limit 2740 - 2738 🔥
✔️ TP1: 2725
✔️ TP2: 2720
✔️ TP3: OPEN
🚫SL: 2748
It is predicted that the price will continue to rise above 2,750Last week, gold prices fluctuated strongly, reaching a record high, but also encountered many difficulties in maintaining the upward momentum, causing experts to have mixed opinions on this week's price trend.
According to a survey by Kitco News, the optimism of experts and investors has decreased significantly compared to last week, when only about 56% of experts forecast that gold prices will increase, 22% said that prices will decrease, and the remaining 22% hold a neutral opinion.
Marc Chandler from Bannockburn Global Forex believes that gold prices may adjust in the short term. He said that current risks are tilted to the downside, especially if gold breaks the threshold of 2,700 USD/ounce, which could lead to strong selling pressure. Sharing the same opinion, Colin Cieszynski from SIA Wealth Management also forecasts that gold prices may decrease next week because there is no positive news from the BRICS conference for the precious metals market. He said that gold is facing a correction after previously increasing strongly.
🔥 XAUUSD Buy limit 2714 - 2712 🔥
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2706
➖➖➖➖➖➖➖➖
🔥 XAUUSD Sell limit 2732 - 2734 🔥
✔️ TP1: 2725
✔️ TP2: 2720
✔️ TP3: OPEN
🚫SL: 2742
Gold Rises Short-Term to Close Gap Ahead of US Economic DataBased on the chart and the current situation, I see gold prices are creating a gap and tending to rise to close that gap. This may reflect the cautious sentiment of investors ahead of the release of important US economic data this week, including GDP, unemployment rate, consumer confidence index and some other important indicators on the labor market.
US government bond yields are rising sharply, pushing to 4.275%, and the Dollar-Index is also at a high of 104,400 points. These factors usually put downward pressure on gold prices because a stronger USD makes gold more expensive for investors holding other currencies. However, with the gap opening up, I expect a short-term rally to close the gap, before gold continues to test higher resistance levels.
The key support level is still around $2,730, and if the price holds at this level, there is a good chance of a short-term rally to fill the gap, giving investors a chance to find a reasonable entry point in the short term. However, I remain cautious with the possibility of a drop to lower levels if US economic data supports the strength of the USD.
XAUUSD Faces Downside Risk as Head and Shoulders Pattern BeginsIn my view, a head and shoulders pattern may be forming on the chart with:
The left shoulder is at the top near $2,755, reflecting initial buying pressure.
The head peak is prominent at $2,740, indicating strong but waning buying pressure.
The right shoulder is forming with a peak close to the right shoulder at $2,755.
If the price breaks below the neckline around $2,721, the pattern will be complete. This could lead to a deeper decline, signaling an approaching downtrend. I will monitor further for confirmation.