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Gold prices fell below key levels in Asian trading on Tuesday as traders turned to the dollar ahead of U.S. inflation data that is widely expected to confirm certain interest rate trends. Profit-taking has been active in the yellow metal over the past two weeks, pushing its price to its lowest level in more than three weeks, as prospects for higher long-term U.S. interest rates weaken the yellow metal's outlook. As of 12:32 pm ET, spot gold was down 0.1% at $1,944.71 an ounce, and December gold futures were down 0.1% at $1,948.25 an ounce. . Focus is on rising US CPI, dollar and yields Gold prices came under pressure from a stronger dollar and U.S. Treasury yields as markets focused primarily on interest rate-sensitive assets ahead of consumer price index inflation data later this month. Statistics show that inflation is expected to slow in October after it has exceeded expectations over the past two months. The news also came shortly after many Federal Reserve officials warned that high inflation could incentivize banks to raise rates further. A longer period of interest rates is expected to increase the opportunity cost of investing in gold bullion, putting downward pressure on the gold price. This trade had a negative impact on gold last year, leaving the outlook for gold uncertain. But predictions of a slowdown in the global economy have put some buyers of the yellow metal on hold. Statistics released later in the day are expected to show the eurozone entering a technical recession in the third quarter. The ongoing war between Israel and Hamas is also expected to boost demand for gold as a safe-haven asset, but traders have started pricing in the yellow metal as much less risky in the past two weeks. .SELL XAUUSD 1965.5-1968💵✅TP1: 1960✅TP2:1955❌SL: 1975

Bitcoin (BTC) is up over 120% since the beginning of the year, showing that sentiment towards the crypto asset has improved significantly. Due to the large volume of purchases, the number of wallet addresses holding more than $1 million in Bitcoin this year has jumped from 23,795 on January 1 to 81,925 now, according to data from BitInfoCharts. After a significant price rally, Bitcoin could face headwinds in the short term as investors digest macroeconomic data and events taking place this week. The Consumer Price Index will be released on November 14th, followed by the Producer Price Index on November 15th, which could lead to short-term fluctuations. Short-term retracements are healthy for long-term market trends.

Negotiations leading up to the meeting between Biden and Xi in the United States are being portrayed as a tense battle of wits, with both sides trying to gain maximum advantage. The White House has confirmed that US President Joe Biden and Chinese President Xi Jinping will meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit to be held in San Francisco on November 15. The two leaders will discuss a range of bilateral, regional and global issues, as well as ways to responsibly manage competition. This will be the second direct meeting between the two leaders since Biden took office as US president. Officials from both countries have been engaged in intensive negotiations and discussions in recent weeks to reach an agreement.XAUUSD SELL 1947- 1949TP1 1937TP2 1930SL 1956.

On-chain analytics firm IntoTheBlock has released data showing a significant increase in demand from institutional investors and whales in the crypto sector. Ethereum scaling solution Polygon in particular has been at the forefront of this trend, with transaction volume increasing by 3,800% to over $100,000 in the past 30 days. IntoTheBlock's classification of his trades over $100,000 as "large" trades reveals significant activity by whales and institutional investors. This large volume increase is a key indicator of increased activity in the industry, suggesting that major players are actively participating in significant transactions. This increase had a positive impact on the price of Polygon's native cryptocurrency MATIC, which exceeded $0.90 for the first time since July. MATIC's market capitalization has increased by a significant 77.3% over the past 30 days, highlighting the impact of increased whale and institutional investor activity.

Wall Street analysts are less optimistic about gold prices next week due to concerns that U.S. inflation will be higher than expected. Global spot gold prices fell last week after a hot day due to the political conflict between Israel and Hamas since early October. The precious metal remained above $1,930 an ounce, but failed to cross the threshold. Mental resistance is $2,000. A Kitco News survey of 12 Wall Street analysts and 319 retail investors found that these two groups have different expectations for gold prices next week. In contrast to the previous week's positive sentiment, most analysts predicted a negative outcome for gold in the short term.XAUUSD SELL 1938-1940TP1 1931TP2 1924SL 1947

Gold prices fell to their lowest in more than three weeks on Thursday, extending a recent losing streak after some Federal Reserve officials warned against betting on the central bank completing its interest rate hike. The yellow metal was in the red for the fourth day in a row as pressure continued from a rebound in the dollar and US Treasury yields. Demand for gold as a safe-haven asset also weighed on prices, with markets pricing in a significantly lower risk premium from the war between Israel and Hamas. As of 11:41 p.m. ET, spot gold was down 0.1% at $1,949.38 an ounce, and gold futures due in December were down 0.2% at $1,954.30 an ounce. It became. Both stocks are down more than 2% on a weekly basis this week. Many Fed officials warned this week that U.S. interest rates will remain high for a long time and that markets should be cautious about betting on rate cuts in the near future. Stable inflation and a resilient U.S. economy could also lead to further rate hikes this year. His comments partially offset recent views that the Fed's rate hike cycle is over and traders are returning to interest rate-sensitive assets such as the dollar and U.S. Treasuries. Ministry of Finance. Fed Chairman Jerome Powell gave some small hints about monetary policy in his speech on Wednesday, but it added to the uncertainty. But the president is scheduled to speak at a private event later Thursday. Although Mr. Powell's comments were seen as less hawkish in the market, Mr. Powell's own rhetoric that U.S. interest rates will remain high for a long time and that more effort is needed to bring down inflation was almost maintained. Such a scenario does not bode well for gold, as rising interest rates increase the opportunity cost of investing in less profitable bullion.XAUUSD 1958-1960 SELL TP 1 1951TP 2 1945SL 1967.

Bitcoin ETFs give investors access to the world's largest cryptocurrency without having to hold the assets themselves. Instead, you can buy stocks backed by Bitcoin purchased from the issuer. Seifert pointed out another caveat. Even if the SEC were to approve a rule change to allow ETF trading, it would be completely separate from approval of a fund's registration statement. Both applications must be approved for the pending Bitcoin ETF to begin trading Although it may take months for a Bitcoin ETF to start trading, recent price gains prove that investors are optimistic about this event. BTC rose more than 20% in October thanks to hopes that the long-awaited approval of the Bitcoin Spot ETF may finally materialize. A person familiar with Grayscale's efforts to convert GBTC into a Bitcoin ETF said yesterday that the company is actively discussing the application with the SEC. But a potential Bitcoin Spot ETF isn't just about increasing BTC prices.

Global gold prices continue to fall today, November 9, as the need for capital protection from the military conflict between Israel and Hamas has largely ended, the US dollar has maintained its value, and oil prices have fallen. At around 6 a.m. on November 9, the global gold price today was $1,950 per ounce, a significant drop of $18 compared to the price at the same time the previous day ($1,968 per ounce). Analysts expect the international gold market to continue falling as the need to buy the precious metal as a safe haven has all but disappeared. Concerns about escalating military conflict between Israel and Hamas have receded, removing an important support for today's gold price recovery. Meanwhile, comments from US and European central bankers that it will be difficult to cut interest rates in the short term have helped keep the dollar's value stable. Since then, gold prices have been under further downward pressure todayXAUUSD SELL 1950-1952 TP1 1945TP2 1940SL 1957.

According to Bernstein, Bitcoin's value doubled in 2023, a year of marked economic turmoil, marking the beginning of a new bullish cycle. Accelerators that could propel Bitcoin towards the $150,000 goal by mid-2025 include upcoming SEC-approved ETFs and Bitcoin halving scheduled for April 2024 . They argue that investors can respond to this trend through direct participation or high-beta methods. One of these methods is to favor Bitcoin mining companies that are expected to increase in value and can generate significant returns on investment. The possible approval of a Bitcoin-related ETF by the SEC could also act as a catalyst for crypto growth. This ETF provides retail and institutional investors with an accessible way to tap into the growing cryptocurrency market without having to directly purchase and store digital assets. Furthermore, the value of Bitcoin is expected to increase further due to the ``halving'' scheduled for April 2024. This event, which halved the reward for mining new blocks, effectively slowed down the rate at which new Bitcoins were created, causing historically large price increases.

Canadian markets were lower on Tuesday, with the TSX Composite and TSX Venture Exchange both down 1%. This was due to the decline in prices of primary products such as crude oil and gold, as well as the strong US dollar. The situation worsened as the Canadian dollar fell to US$72.67. Crescent Point Energy's stock price was also affected, falling after the company acquired Hammerhead Energy for $2.55 billion. This contributed to the decline in energy stocks. On November 1, 2023, the S&P/TSX Composite Index fell more than 100 points to 19,616.63 points due to a downturn in the energy industry as crude oil prices fell to $78.40 per barrel. In contrast to the performance of the Canadian market, results on Wall Street were mixed on Tuesday, with the Dow Jones Industrial Average and S&P 500 index slightly higher. Tech stocks like Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:MSFT), Amazon (NASDAQ:MSFT), NASDAQ:AMZN), Advanced Micro Devices, and DataDog posted big gains. The Nasdaq also rose significantly, and so did the 10-year Treasury bond. Despite the market volatility, Statistics Canada reported that the trade surplus doubled by $2 billion in September as imports and exports of goods increased. This week, investors are also looking forward to quarterly results from Disney, Wynn Resorts and Occidental Petroleum.