GOLD recovered after adjustment

23 באוג׳

XAUUSD spot has adjusted down below the original price mark of 2,500SUSD and is trying to recover. This trading day, investors will have new information from Federal Reserve Chairman Powell's speech, which is expected to cause a major fluctuation in the gold market.
Data released by the US Bureau of Labor Statistics (BLS) on Thursday showed that the number of initial unemployment claims in the United States for the week of August 17 was higher than expected and previous figures. .
Data from S&P Global showed business activity remained steady even as US manufacturing activity fell for a second straight month. US manufacturing PMI fell to 48.0 again in August; Services PMI increased to 55.2, exceeding expectations.

U.S. Treasury yields rose on Thursday, with the benchmark 10-year Treasury yield in particular rising 6.5 basis points to 3.865%. The US Dollar Index (DXY), which tracks the value of the USD against six other currencies, rose and profit-taking could be the main reason gold prices fell below $2,500/ounce ahead of Trump's speech. Powell.

Previously, the minutes of the final meeting of the Federal Open Market Committee (FOMC) on Wednesday unexpectedly showed that the "vast majority" of FOMC participants supported easing policy at the September meeting. if the data matches expectations.
The minutes show that policymakers are increasingly convinced that inflation risks are tilted to the downside, while risks to achieving maximum employment have increased.

The "Jackson Hole Symposium", the annual meeting of global central banks, will be held starting Friday and the market focus will shift to the Federal Reserve Chairman's speech Jerome Powell at today's meeting (Surday).
Federal Reserve Chairman Jerome Powell's speech in Jackson Hole is expected to lay the foundation for monetary policy direction for the remainder of 2024.

Today (Friday), Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the annual meeting in Jackson Hole. Traders need to pay close attention to this event, because it will bring much stronger volatility.
In a context where the market is unpredictable and increases and decreases of 2-3% are no longer strange or rare, traders need to be prepared for scenarios of price movements of 2-3% in the short term. short time.

Analysis of technical prospects for XAUUSD
On the daily chart, although gold has corrected below its original price of $2,500, the downside momentum has been limited and recovered from the 0.618% trend-following Fibonacci extension above $2,484, continuing support from the support level of 2,484USD towards a short-term increase at 2,500USD.

As long as gold remains within the price channel, it still tends to increase in the short term, while the long-term trend is fixed by the price channel and medium-term support from EMA21.

In the immediate future, the target will be 2,500 – 2,503 USD, the area of ​​​​the 0.786% Fibonacci extension. Once gold breaks the 0.786% Fibonacci level it will continue to qualify for a bullish outlook with the next target after that at around $2,531, more so than $2,544.

During the day, the technical outlook for gold prices remains unchanged with the main trend being bullish and notable points are listed as follows.
Support: 2,484 – 2,471USD
Resistance: 2,500 – 2,503 – 2,510USD

SELL XAUUSD PRICE 2502 - 2500⚡️
↠↠ Stoploss 2506

→Take Profit 1 2495
↨
→Take Profit 2 2490

BUY XAUUSD PRICE 2461 - 2463⚡️
↠↠ Stoploss 2457

→Take Profit 1 2468
↨
→Take Profit 2 2473

23 באוג׳

עסקה פעילה

Plan SELL Running + 20pips💸

23 באוג׳

עסקה פעילה

Plan SELL + 30pips close a part move SL to entry.🔥

25 באוג׳

הערה

Today's gold price on the international market is forecast to continue to increase as investors expect the FED to reduce interest rates and the USD will plummet.

At the end of the last trading week, the world gold price closed at 2,513 USD/ounce, an increase of 6 USD/ounce compared to last week. During the week, precious metals on the international exchange fluctuated very violently, reaching a new historic peak of over 2,530 USD/ounce, then plummeting to 2,470 USD/ounce under pressure from investors to take profits.

26 באוג׳

הערה

World gold prices continue to increase sharply, countries will continue to diversify reserves by buying gold to preserve assets, according to the World Gold Council.

The World Gold Council (WGC) believes that gold is a national reserve asset due to its characteristics of safety, liquidity and profitability. For many years, countries have increased their gold reserves.

26 באוג׳

הערה

The dollar index witnessed a clear decline during Monday's trading, and the dollar index fell to touch the 100.53-point level, recording its lowest levels since July 20, 2023, after the pessimistic statements of the US Federal Reserve Governor Jerome Powell led to increasing expectations of starting to cut interest rates at the September meeting.

26 באוג׳

הערה

According to data from the US Department of Commerce, the value of core goods orders fell 0.1% last month after increasing 0.5% in June. The data is not adjusted for inflation. Durable goods orders rose 9.9%. Excluding transportation equipment, orders fell 0.2%.

27 באוג׳

הערה

The world gold price maintains a good price range of over 2,500 USD/oz and is not far from the all-time record, thanks to the possibility that the US Federal Reserve (Fed) may cut interest rates in less than 1 month. A major US bank recommends investors buy gold, emphasizing the net buying trend of gold by central banks and the high profitability of this precious metal this year.