James-Bennett

Hi everybody! Data released on Friday showed that the US personal consumption expenditures (PCE) price index rose 0.3% last month, an increase in line with forecasts. Experts say that this increase is unlikely to change expectations that the US Federal Reserve (FED) will continue to maintain tightening policy until September. While data continues to suggest inflation remains “persistent,” gold's reaction suggests the market has priced in this. It is likely that gold will consolidate within the range of 2,300 - 2,400 USD/ounce in the short term. Looking ahead: The Fed is facing a challenging environment as inflation remains “persistent” and economic activity begins to weaken. Inflation data is released 1 day after first quarter GDP data. This year, the US economy has seen its slowest growth rate in nearly 2 years. Regarding impact news: when faced with a stagflation environment, the US Central Bank will likely ignore rising inflation and focus on supporting the economy, which will be a positive environment for Yellow. Regarding the new outlook for XAUUSD: gold prices are in an accumulation phase. Gold prices may rebound if US inflation weakens." Currently, gold prices are being supported by the net buying trend of gold by central banks and the large physical gold demand of Chinese and Indian consumers, thereby supporting gold. It is expected that next week gold will reach 2,400 USD. And you? Next week's standout economic news that could affect gold prices is the Fed's monetary policy decision on Wednesday; US nonfarm payrolls report on Friday.Trade activeComment: This week, 10 Wall Street analysts participated in Kitco News' gold survey. The views are almost identical to last week. 7 experts (equivalent to 70%) predict gold prices will rise higher next week. Meanwhile, 2 analysts (accounting for 20%) believe that gold will continue to trade sideways. Only 1 analyst (equivalent to 10%) predicts a price decrease.Comment: good luck every one

Dear friends! In general, since gold took profit at 2418 USD, the price has dropped sharply, this is carefully observed on the daily time frame, clearly built by 3 strong bearish candles at one point reaching 2291 USD! However, the price quickly bought back this decrease to reach the 2338 USD mark. On the contrary, for this growth momentum, I am expecting and considering where the price will continue to decline, the upward momentum is still weak and the strength of the bull is still weak. This is not enough as the price continues to close below $2344, we can expect the next scenario next week to be bearish. The $2,344 mark is significant as this was last week's opening price. It is expected that this price drop will reach the 2300 - 2225 USD mark and retest the 34.89 EMA levels even though the main market trend is still bullish. Personally, I appreciate the downside next week.Comment: Previously I mentioned that gold will continue to increase to 2400 USD, but if it is still below the 2430 area, the selling pressure is still there.Trade active

Welcome investors! Let's analyze the gold market situation after notable fluctuations in recent days. April 25 witnessed a sell-off of stocks globally, leading to US and European stock indexes sinking deeply into the red. This prompted many investors to redirect their investment capital to precious metals such as gold, causing gold prices to skyrocket that day. Amid market uncertainty, gold seems to have become a safe haven, with world gold prices increasing from $2,310 to $2,346 per ounce. This shows that demand for gold is increasing due to expectations of short-term price increases. In terms of trends, gold is receiving significant attention from investors. Gold prices are forecast to continue moving up within its rising price channel, with current support at around $2,330. The short-term goal is to reach the upper limit of the bullish channel, with access to $2,350 and possibly higher if the market is favorable. In general, with current developments, the gold market is likely to witness new price increases. What do you think about this prospect? Please share your views on XAUUSD's next direction!Trade activeTrade active

Hello traders! XAUUSD The bulls seem to be holding firm in the market, with an ascending triangle forming. The uptrend could continue with a break of $2,330. As I mentioned: An ascending triangle is forming, price is compressed at $2330, however price is quickly breaking out towards a likely target where bears are holding $2335 - $2340, In the current scenario, I wait for a pullback to retest the support of the 2220 USD price channel to accumulate potential before growing again. The break of the mentioned line will trigger the realization and delivery phase, which will give us bullish momentum. From the 4-hour chart, XAUUSD continues to receive strong support around the $2320 level. A break below this level will see the price drop significantly, while a sustainment will result in an increase in price. It is expected that the price will recover after the correction and retest the EMA 34.89.Trade activeComment: Gold prices struggle to attract any meaningful buyers amid fresh USD buying. Bets that the Fed will keep interest rates higher for longer amid difficult inflation should help revive USD demand.Comment:Comment: Price is consolidating above the breakout level. It is expected that next week the uptrend will continue to develop based on basic news factorsComment:

Dear friends! On the world market, gold price reached 2,320.35, down 3.37 USD. Part of the reason for the price drop is that hedge funds have reduced their allocation to gold, while some tensions in the Middle East have cooled slightly in recent days. The downtrend could continue with a break from the bullish structure around $2,380. Overall, the downtrend is still clear, and short-term investors are still looking for correction opportunities on the chart. On H1 we see the general trend has changed since it reached the 2400 USD profit taking level, then the market moved into a consolidation phase under the strong breakout zone of 2328 USD which was actively defended by sellers on the lane correction and sell-off waves. The market's resistance zone continues to hold prices, but in a fundamentally negative context where prices are gradually approaching on a basis of decreasing volume, buyers have less and less opportunity to break the resistance zone. The technical downtrend may continue, the nearest potential target on H4 could be the 2150-2175 area. The bullish structure is under threat, the market is having a sharp sell-off.Trade activeComment: Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.Comment: Gold lost its traction and turned negative on the day below $2,320 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, weighing on XAU/USD.Comment: The US Dollar Index (DXY), which tracks the value of the US Dollar against six major currencies, regained the 106.00 level. The significant appreciation of the US dollar makes gold an expensive investment for holders of the currency.Comment: what do you think?Comment:Comment:

Hello dear traders! Do you think XAUUSD will increase or decrease? Overall, XAUUSD continues its corrective trend in today's trading session. But at the same time, a Double Top has appeared on the 3-hour chart, capped below the resistance level of 2330-2335 USD. It is worth noting that the mentioned support zone is believed by investors to be a very strong support zone, but based on the setup and pattern, there is a high possibility of seeing a breakout and a decline. The $2050 area is an ideal area to test as this is a strong intermediate bottom where price has had strong growth behavior. Based on the current market structure and price behavior, we are more likely to catch a market correction. Personally, I still appreciate the bearish strategy, a breakout and consolidation below $2300 would not be surprising if XAUUSD falls further.Trade activeComment: Gold is trying to recover from Monday's sharp decline but still holds above $2,300. Benchmark 10-year US Treasury yields remained in the green above 4.6% ahead of the US data, not allowing XAU/USD to gain traction.Comment: Q1 GDP and core inflation will provide additional signals about when the Federal Reserve (Fed) will begin reducing interest rates. US core PCE inflation, the Fed's preferred inflation measure, is estimated to have increased steadily 0.3%, with the annual figure falling to 2.6% from 2.8% recorded in February. Gold prices could face a sharp sell-off if core inflation data turns out hotter than expected.Comment: Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.Comment: The downside, however, seems limited as traders might refrain from placing aggressive directional bets ahead of important US macro releases, starting with Durable Goods Orders later this Wednesday. The focus, however, will remain glued to the Advance US Q1 GDP report and the Personal Consumption Expenditures (PCE) Price Index. The data will be looked upon for cues about the Fed's rate-cut path, which will drive the USD demand and help in determining the near-term trajectory for the Gold price.Comment:Comment:

Hello dear traders! XAUUSD touched 2317 USD continuing its downtrend as the market gradually eased concerns about escalating tensions in the Middle East. This means that gold - which is considered a risk haven - has lost its position. Regarding impact news: comments from US Federal Reserve (FED) officials suggesting there is no urgent need to cut interest rates have reduced the attractiveness of gold prices. Meanwhile, US stocks continued their upward momentum. The Dowjones, S&P 500 and Nasdaq indexes all increased. Accordingly, many people are interested in stocks, causing money to flow into the gold market. On the new outlook for XAUUSD: In the near term and according to the 4-hour chart, risks are trending to the downside. The H4 setup shows strong resistance in the market. Looking closely, we can see that the H4 Candle touched Fibonacci 0.618 and turned down, showing that selling pressure is gradually strengthening, which means increasing the possibility of breaking the support level. But! If buyers hold this zone the price could test local highs before falling further.Trade activeTrade activeComment:Comment: US inflation indicators such as Consumer Price Index (CPI) and wage growth have remained high in the first quarter. Further signs of persisting price pressures would allow the Fed to continue with their argument of keeping interest rates at the current levels for a longer period. Historically, this scenario bodes well for the US Dollar and bond yields, and makes Gold less attractive.Comment: Gold price (XAU/USD) faces pressure while attempting to extend recovery above $2,320 in Wednesday’s early New York session. The near-term appeal of the precious metal remains weak as safe-haven demand wanes amid easing Middle East tensions. Also, investors turn cautious for bullions ahead of the United States Q1 Gross Domestic Product (GDP) release and the core Personal Consumption Expenditure Price Index (PCE) data for March, which will be published on Thursday and Friday, respectively.Comment: Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.

Hello dear traders! The XAUUSD correction continues to build. The price broke through the $2356 support level as we expected as measured by the 0.5 Fibonacci. The price quickly dropped to 2,300 USD and stalled above this level for a few hours. At the time of this article, the price was trading stably at 2,309 USD, marking a decrease of 0.75% on the day. It is worth noting that the 2300-2296 support zone is being held by the bulls in the short term after the previous sharp decline, it seems that the market maker is trying to bounce back before falling further, possibly controlling Retesting the resistance level at 2342 USD, Fibonacci also pointed out that strong selling pressure is likely to occur from this area, to capture liquidity. The consolidation formed below this line, in general, determines for us a medium-term outlook, the target of which could be 2220. In general, a move within a range within the correction range will develop. Transactions will occur between levels. Based on the market structure and price behavior, we are likely to catch a market correction. From a personal perspective, I still maintain a strong belief in a downtrend this week, regardless of the Any breakout and consolidation below $2300 will do nothing to stop XAUUSD from falling further.Trade activeTrade active

Hello dear traders! Let's discuss and strategize our new day! Overall, XAUUSD experienced a significant pullback today with the price falling above the $2380 and $2365 support levels as mentioned earlier. It is currently trading steady at $2,358, marking a loss of 1.38% on the day, and the downtrend remains popular with investors. Personally, I still maintain my sell stance, the false break at 2365 is an important area for XAUUSD, which changed the price structure. We are waiting for it to bounce back to test that false breakout zone, before a further correction towards the $2335 target and a retest of the 89 EMA.Comment: Gold prices (XAU/USD) extended their steady intraday decline into the early European session on Monday and fell to a one-week low around the $2,350 region in the past hour.Comment: The downside for Gold prices remains tempered by growing expectations that major central banks will cut interest rates this year. Traders may also limit sharp bearish bets ahead of Tuesday's flash Global PMI release and key US macro data - previous Q1 GDP report and Expenditure Price Index personal consumption expenditure (PCE) on Thursday and Friday respectively. This, in turn, warrants caution before confirming that XAU/USD has topped in the near term and positioning for any meaningful downside correction.Trade activeComment: Gold trades on the back foot and loses over 2% on the day below $2,340. Easing geopolitical tensions cause XAU/USD to stage a deep correction, while the resilience of the US Treasury bond yields further weighs on the pair.Comment: However, the downside for Gold prices remains tempered by growing expectations that major central banks will cut interest rates this year. Traders may also limit sharp bearish bets ahead of Tuesday's flash Global PMI release and key US macro data - previous Q1 GDP report and Expenditure Price Index personal consumption expenditure (PCE) on Thursday and Friday respectively. This, in turn, warrants caution before confirming that XAU/USD has topped in the near term and positioning for any meaningful downside correction.Trade closed: target reachedComment:

Hello dear traders! Overall, it appears that the market maker has strong sellers emerging in the market and they are building limited resistance areas. The market is not yet ready to break above 2400. It is currently trading at $2300, selling since the beginning of the session, highlighting a 1.14% decline on the day. The price is testing the local low and forming an entry point into the risk zone. Shaking is possible before next fall. About basic news: World gold prices reversed and fell vertically in the context of tensions between Iran and Israel not escalating. From there, investors reduce the need for safe haven capital in precious metals. Another development is that US stocks have returned to the green floor when the Dowjones index increased 253 points, S&P 500 increased 43 points and Nasdaq increased 169 points. Accordingly, many people focus their capital on stocks, causing very little money to flow into the gold market. Today's world gold price "evaporates" by tens of USD/ounce, which is inevitable. Conclusion: Personally, I am still quite optimistic about the wave of gold price decline. I mentioned earlier that gold is ready to attract a large number of sellers to test the market's liquidity at the expense of buyers. Fundamentally and technically the market is showing weakness, so we can expect a bearish scenario at the moment. Currently, what is worth noting is the 2300 USD area, there may be a tug of war between buyers and sellers fighting for lower levels, most likely the price will test the 2326 USD area before falling further. James remains strongly bullish in the short term, once the $2300 support level is completely broken on the hourly timeframe, there will be nothing to stop XAU from falling further.Trade activeTrade activeComment:Comment: Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.Comment: Traders look ahead to a flash global PMI print on Tuesday, along with the previous US Q1 GDP report and the US Personal Consumption Expenditures Price Index (PCE) later this week, will bring new impetus.Comment: Gold reversed course and rose to the $2,320 area, erasing most of its daily losses in the process. Benchmark 10-year US Treasury yields remain in the red below 4.6% following weak US PMI data and XAU/USD support.Trade activeComment: