Esmeralda_Gold

Hello everyone, let's explore today's gold price movements together!Today, I'll focus on the 2-hour chart as we near the end of the trading session. Currently, gold is hovering around 2515 USD, with a strong rise of 150 pips since the close of yesterday’s session.The precious metal is being supported by the fact that the 10-year U.S. Treasury yield remains in the red, under 3.8%, following mixed data from the U.S., which has bolstered XAU/USD.In the short term, and particularly on the 2-hour chart, I see gold forming a cup and handle pattern, moving towards the strong resistance at 2524 USD. If it manages to break through this level and complete the cup pattern, we could see even higher prices.My target is 2550 USD. What do you think about gold's trend?

Hello everyone, as of this writing, gold has returned to the psychological level of $2500, showing a slight upward movement with a recovery of over $7 for the day.Despite the volatility, gold has remained above its nearly two-week low, reached on Wednesday, amid increasing bets on a larger rate cut by the Federal Reserve in September. This sentiment was bolstered by the latest U.S. labor market report. Additionally, market caution, driven by concerns over the health of the U.S. economy, has further supported the safe-haven appeal of gold.From a technical perspective, the downward channel has been broken, and the price has rebounded after successfully accumulating, forming new support at $2495. The nearest hurdle and short-term target now is to surpass the $2507 resistance. If gold can close above this level, we could soon see it reaching $2519–2520.

Gold prices are showing signs of recovery today after dipping close to $2470 at the end of yesterday’s session. Currently, the precious metal is hovering around $2498, inching closer to the key psychological level once again.This upward adjustment in gold's price is fueled by a weaker U.S. dollar and lower yields, following a drop in U.S. job numbers. This has sparked speculation that the Federal Reserve may consider scaling back on aggressive rate hikes during their upcoming policy meeting later this month.From a technical standpoint, while gold is climbing, it faces immediate resistance at $2505–$2507. If the precious metal can break through this level, it may challenge its all-time highs. On the other hand, selling opportunities should still be prioritized, as gold is currently converging with the EMA. It's worth considering a sell order if resistance holds strong.

Gold prices continue their downward slide from the start of the Asian session, dropping over 180 pips for the day and currently hovering around the $2,475 mark.A glance at the short-term chart clearly shows a dominant bearish trend, with gold moving within a wedge pattern under strong pressure from the bears.Given the current market dynamics, it's evident that sellers have the upper hand. Following the trend remains the priority. My strategy is to sell – what’s yours?it so great