Gold in downtrend below 2633
מעודכן
XAU / USD trend forecast December 23, 2024
Gold prices (XAU/USD) remain stable around $2,625 during the early Asian session on Monday. While the Federal Reserve's (Fed) hawkish outlook could pressure the yellow metal, the downside might be limited by a weaker US Dollar following a softer inflation report.
At its December meeting, the Fed reduced interest rates as anticipated but signaled a slower pace for any further rate reductions. The updated Fed dot plot, which outlines future rate expectations, now shows a projected half-percentage point cut in 2025, down from a full percentage point reduction forecasted in September. This has strengthened the US Dollar (USD) and weighed on USD-denominated gold, as rising real interest rates heighten the opportunity cost of holding non-yielding assets like gold.
Gold is moving sideways in the range of 2590 - 2630, accumulating until the end of 2024
/// SELL XAU : zone 2632-2635
SL: 2640
TP: 50 - 150 - 300pips (2605)
Safe and profitable trading
Gold prices (XAU/USD) remain stable around $2,625 during the early Asian session on Monday. While the Federal Reserve's (Fed) hawkish outlook could pressure the yellow metal, the downside might be limited by a weaker US Dollar following a softer inflation report.
At its December meeting, the Fed reduced interest rates as anticipated but signaled a slower pace for any further rate reductions. The updated Fed dot plot, which outlines future rate expectations, now shows a projected half-percentage point cut in 2025, down from a full percentage point reduction forecasted in September. This has strengthened the US Dollar (USD) and weighed on USD-denominated gold, as rising real interest rates heighten the opportunity cost of holding non-yielding assets like gold.
Gold is moving sideways in the range of 2590 - 2630, accumulating until the end of 2024
/// SELL XAU : zone 2632-2635
SL: 2640
TP: 50 - 150 - 300pips (2605)
Safe and profitable trading
עסקה פעילה
Gold prices decreased according to today's trend - exactly the PLAN DAY signalעסקה סגורה: היעד הושג
Gold price is under selling pressure at the beginning of the week: around the 2610 area
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