XAUUSD → Stick to important milestones despite pressure
This week, the international
XAUUSD
price at one point climbed to 1,947 USD/ounce, but then dropped to 1,913 USD/ounce and closed at 1,925 USD/ounce. Observing gold price fluctuations in recent times shows that investors seem to be taking a more cautious stance to protect their wallets against the FED's monetary policy as well as the risk of a global economic recession.
This week, the Fed stopped raising interest rates, but still maintained its "hawkish" stance. FED Chairman Jerome Powell said that although interest rates have nearly reached their peak, the FED will keep interest rates at high levels in the near future.
The FED's "hawkish" stance has pushed the 10-year US Treasury bond interest rate to 4.5% - the highest level in the past 15 years. At the same time, the USD index also jumped to 105 points - the highest level since November 2022. This has had a negative impact on gold prices this week and gold prices next week.
Notably, the sharp increase in US Treasury bond yields has been causing investment funds to sell off gold. Last week alone, they sold a total of 16 tons of gold. Accordingly, the amount of gold held in ETFs has dropped to the lowest level since January 2020. Overall, next week's gold price in particular and short-term gold price in general still have potential risks due to the FED's "hawkish" stance.
Technically, according to chart D1, the price of
XAUUSD
is moving sideways in a wide range, the resistance zone is established around the 1950 threshold, the support zone is established around the 1885 threshold. The gold price trend next week will not change until now. break through this boundary.
The trading plan for next week will consider buying around 1895, selling around 1935, accepting a stop loss of 5 prices for each turn.
XAUUSD
price at one point climbed to 1,947 USD/ounce, but then dropped to 1,913 USD/ounce and closed at 1,925 USD/ounce. Observing gold price fluctuations in recent times shows that investors seem to be taking a more cautious stance to protect their wallets against the FED's monetary policy as well as the risk of a global economic recession. This week, the Fed stopped raising interest rates, but still maintained its "hawkish" stance. FED Chairman Jerome Powell said that although interest rates have nearly reached their peak, the FED will keep interest rates at high levels in the near future.
The FED's "hawkish" stance has pushed the 10-year US Treasury bond interest rate to 4.5% - the highest level in the past 15 years. At the same time, the USD index also jumped to 105 points - the highest level since November 2022. This has had a negative impact on gold prices this week and gold prices next week.
Notably, the sharp increase in US Treasury bond yields has been causing investment funds to sell off gold. Last week alone, they sold a total of 16 tons of gold. Accordingly, the amount of gold held in ETFs has dropped to the lowest level since January 2020. Overall, next week's gold price in particular and short-term gold price in general still have potential risks due to the FED's "hawkish" stance.
Technically, according to chart D1, the price of
XAUUSD
is moving sideways in a wide range, the resistance zone is established around the 1950 threshold, the support zone is established around the 1885 threshold. The gold price trend next week will not change until now. break through this boundary. The trading plan for next week will consider buying around 1895, selling around 1935, accepting a stop loss of 5 prices for each turn.
Komentarz:
For nearly a month, gold has fluctuated back and forth between $1,900/ounce and $1,950/ounce. This range should remain in place for at least a few more weeks.
Komentarz:
Retail investors clearly expressed their view that gold prices will increase sharply in the near future. Many opinions have been expressed that the gold price will trade around 1,936 USD/ounce, 12 USD higher than predicted last week.
Komentarz:
🕯 BUY GOLD | 1912 - 1914
🔴 SL: 1908
🟢 TP1: 1920
🟢 TP2: 1925
🔴 SL: 1908
🟢 TP1: 1920
🟢 TP2: 1925
Zlecenie aktywne:
Running +20pip✅✅✅
Komentarz:
Gold is in a consolidation phase after prices failed to sustain above $1,930/ounce last week. In addition, this expert also added that bullion could be further pressured towards the important psychological level of 1,900 USD/ounce, if the Fed raises interest rates.
Komentarz:
After the FOMC event, FED data clearly shows that DXY is very healthy
So the time after that GOLD decreased + Stock decreased because the money flow moved to DXY so its decline was high.
Money is King, USD is King
So the time after that GOLD decreased + Stock decreased because the money flow moved to DXY so its decline was high.
Money is King, USD is King
Komentarz:
Initial resistance is expected to be around 1,850 USD/ounce. The perception that higher inflation means higher interest rates makes non-interest-bearing metals somewhat worse off. If as predicted, gold will slide to 1,840 USD/ounce.
