Gold_Hunters_Club

Gold loses traction and trades around the $3,380 region per troy ounce on Wednesday in response to renewed upside impulse in the US Dollar, mixed US yields across the curve and some proft taking mood in light of recent strong gains. Gold (XAU/USD) is trading on the back foot on Wednesday as the US Dollar (USD) regains strength and edges higher, despite political turmoil surrounding US President Donald Trump’s attempt to oust Federal Reserve (Fed) Governor Lisa Cook. At the time of writing, XAU/USD is holding near $3,380 at the start of the American session, after briefly slipping to around $3,373 during Asian hours. The move reflects modest profit-taking after climbing to a fresh two-week high. Still, the downside remains cushioned as markets weigh the uncertainty over the Fed’s independence and the dovish tilt in Fed Chair Jerome Powell’s remarks at Jackson Hole, where he hinted that conditions “may warrant” interest rate cuts in the near term.

Gold is back in the red below $3,370, reversing the sharp turnaround seen on Friday. Buyers take a breather in the aftermath of intense volatility stoked by US Federal Reserve Chair Jerome Powell’s surprise dovish pivot at the Jackson Hole Economic Symposium.

Bitcoin (BTC) price remains under pressure this week, consolidating above $111,980 support after dropping more than 3%. BTC pullback continued as weakening demand and profit-taking keep weighing in, as spot Exchange Traded Funds (ETFs) saw over $1.15 billion in outflows. Traders now look to Federal Reserve (Fed) Chair Jerome Powell’s upcoming speech at the Jackson Hole Symposium this Friday, which could provide fresh cues for the next directional move for riskier assets such as Bitcoin. Bitcoin price continued its correction so far this week, falling over 3% and reaching a low of $112,015 on Thursday, having declined nearly 8% from its all-time high of $124,747 on August 14. The falling institutional demand fueled this price pullback. SoSoValue data shows that Bitcoin Spot ETFs have recorded a total of $1.15 billion in outflows until Thursday, the highest outflow since early March. If this outflow continues and intensifies, BTC could see further correction ahead.Target Completed 👍

By analyzing the #Gold chart on the 1-hour timeframe, we can see that after correcting down to the $3316 demand zone, price faced strong buying pressure and is now trading around $3348. If gold manages to hold below $3360, we could expect a stronger drop, with downside targets at $3336, $3330, and $3320. This scenario will only fail if price holds above $3358, pushes past $3365, and closes above it - in that case, gold may rally back toward levels above $3370. This analysis will be updated soon — don't forget to show some support, friends! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me!

Bitcoin (BTC) is attempting a recovery toward the pivotal $120,000 level, trading above $119,000 on Friday. The sell-off spread in the broader cryptocurrency market on Thursday occurred after July’s US Producer Price Index (PPI) data came in hotter than expected, casting doubts on the possibility of the Federal Reserve (Fed) cutting rates in September. The crypto market is clearly struggling to move upwards, as historic highs are also attracting sellers. On Friday morning, the total capitalisation of cryptocurrencies stood at $4.03 trillion, reflecting a 3.4% decline over 24 hours. Although this is unpleasant for bulls, it looks like a necessary correction to let off steam while the market remains above the July highs of $3.90-3.95 trillion, a break below which would signal a trend reversal.

Gold attracts some intraday selling near the $3,375 area and drops to a fresh daily low during the first half of the European session, snapping a two-day winning streak. The risk sentiment remains well supported by the recent optimism over an extension of the US-China trade truce for another three months and the US-Russia summit on Friday aimed at ending the war in Ukraine. Gold (XAU/USD) reversal from last week's highs right above $3,400 has been contained at the $3,335-$3,345 area, where the pair has found support at August 4 and 5 lows, and the 50% Fibonacci retracement of the early August rally. The precious metal has been trading without a clear bias during the last few days, and upside attempts remain capped on Thursday, with investors watching from the sidelines, ahead og US Jobless Claims and PPI data releases, due later on the day.

Cryptocurrency prices are showing bullish signs on Wednesday, backed by strong market sentiment after the US Consumer Price Index (CPI) data showed that inflation increased, but below market expectations. Bitcoin (BTC) is back to trading marginally above $120,000 after a knee-jerk recovery from its previous day low of $118,928. The bullish outlook spreads across the altcoin market with Ethereum (ETH) breaking above $4,700 backed by rising spot Exchange Traded Funds (ETFs) inflows, which hit the $1 billion mark for the first time on Monday. Ripple (XRP), on the other hand, is upholding its recovery above support at $3.00 as bulls aim for the record high of $3.66 reached on July 18. Interest in XRP remains high following the resolution of the longstanding United States (US) Securities and Exchange Commission (SEC) lawsuit.

Gold seems to have entered a consolidation phase around $3,400 per troy ounce, giving up some gains after previous highs over $3,410. The announcement that the United States would tax one-kilo and 100-ounce gold bars is also supportive of the precious metal. Gold Price steadies in the spot markets, yet the futures reached a record high of $3,534 on reports that the United States (US) will apply tariffs on imports of Gold bars. Besides this, market players continued to digest US economic data revealed during the week as traders brace for the release of inflation figures next week. The XAU/USD trades at $3,397, virtually unchanged. During the overnight session, the price spread between New York Comex futures and spot prices widened by more than $100, as revealed by Reuters after the Financial Times reported on Thursday that the US imposed tariffs on one-kilo Gold bars, citing a letter from US Customs & Border Protection.

Bitcoin is showing signs of short-term consolidation or mild downside risk after reaching an all-time high of over $123,000 last month, according to onchain analytics firm CryptoQuant. "Bitcoin has entered a bullish cooldown period, as the Bull Score Index declined from 80 to 60. While conditions remain positive, momentum has softened," CryptoQuant said in a report shared with The Block on Thursday. CryptoQuant's Bull Score Index gauges the strength of the bitcoin market based on various on-chain indicators. Scores closer to 100 suggest strong buying momentum and bullish sentiment, while scores near zero indicate heavier selling pressure and negative outlooks. At its current level of 60, the index still points to a broadly bullish regime, but with fading momentum. CryptoQuant said the dip in the index reflects both profit-taking after bitcoin's recent all-time high rally and a seasonal slowdown in trading activity during the summer.

Gold investors may be looking to cash in on the metal's rally over the past few years. But many of them may not be aware that it can get pretty complicated. Selling gold is a straightforward transaction for buyers who purchased gold-mining stocks or gold-equity mutual funds and exchange-traded funds. However, investors looking to sell physical gold bars and coins will have to find a buyer, and sellers of physical gold and ETFs backed by physical gold or gold futures face potentially higher tax bills than those selling gold-related stocks and funds that hold such stocks. With gold prices up 24% on an annualized basis over the past three years — at around $3,400 an ounce recently — here's what to know about selling your gold holdings and the tax treatment.