GOLD maintains a narrow recovery range

há 7 dias

XAUUSD Spot delivery maintains a recovery trend and narrow range during the day. As of the time of writing, gold price is currently trading at about 2,633 USD/ounce. On this trading day, investors will pay attention to many important data such as the number of initial jobless claims in the United States, PMI and the housing market, which are expected to stimulate activate market conditions and create market volatility.

Today (Thursday), seasonally adjusted initial unemployment claims in the United States for the week of December 28 will be released, expected to be 224,000, compared to 219,000 the previous week.
If the latest initial unemployment claims are lower than expected, this will have a positive impact on the US Dollar and affect the price of gold and major non-US currencies.
On the same day, the final value of the US Markit Manufacturing Purchasing Managers' Index (PMI) for December will be announced, expected to be 48.3.
US construction spending in November will be released, with the monthly rate expected to increase 0.3%.

On the daily chart it's XAUUSD is still trading in a very narrow operating range, with temporary short-term rallies still limited by pressure from the EMA21 and the 0.618% Fibonacci retracement level. Note to readers in digital publications out first.

Temporarily, gold's trend is quite neutral with the possibility of accumulation depicted by the purple triangle. However, based on the current position, gold has more conditions to decrease in price with the Relative Strength Index (RSI) still below level 50, level 50 is considered resistance or support for RSI depending on conditions. RSI's lawsuit.

On the other hand, gold could open a new bearish cycle once it is sold below the 0.786% Fibonacci level and the subsequent target of $2,538 in the short term. Even if gold recovers above EMA21, it is still unable to create a concrete uptrend, with pressure from the upper edge of the purple price triangle.

Using the POC Volume Profile we will also see that the area around 2,634 – 2,640USD is an area where a lot of trading occurs, this should be considered a pressure area given gold's current position.

During the day, gold's trend is neutral with technical conditions tilted to the downside and notable levels are listed below.
Support: 2,604 – 2,600USD
Resistance: 2,640USD

SELL XAUUSD PRICE 2651 - 2649⚡️
↠↠ Stoploss 2655

→Take Profit 1 2644
↨
→Take Profit 2 2639

BUY XAUUSD PRICE 2599 - 2601⚡️
↠↠ Stoploss 2595

→Take Profit 1 2606
↨
→Take Profit 2 2611

há 6 dias

Nota

The world gold market recorded an impressive increase, with spot gold price reaching 2,658 USD/ounce (up 32.4 USD) and future gold price reaching 2,671 USD/ounce (up 29.9 USD).

há 6 dias

Nota

há 3 dias

Nota

⚫Goldman Sachs adjusted the gold price forecast, saying that by the end of 2025 the gold price will reach 2910 USD/ounce, instead of 3000 USD as previously expected, and the target of 3000 USD was moved to mid-2026. The reason is due to the Fed's interest rate reduction policy being less aggressive than expected and demand for gold ETFs decreasing.

há 3 dias

Nota

Gold adjusted down to 2,614 USD/oz

anteontem

Nota

▫️SPOT gold hit $2,640 an ounce or more, up 0.15% on the day.

anteontem

Nota

▫️Central Bank of China: China's gold reserves at the end of December were reported to be 73.29 million ounces (about 2279.58 tons), an increase of 330,000 ounces (about 10.27 tons) from a year ago there.

ontem

Nota

🔴India's gold imports plummeted by $5 billion in November, the largest decrease

há 16 horas

Nota

Notably, contrary to inaccurate information from the Washington Post about the easing of sanctions, sanctions are actually having a positive impact on USD strength.