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Gold Price Prediction Before and After NFP News
Analysis:
Gold prices continued to rise for the fourth consecutive day despite the continued strength of the US dollar (USD) and US Treasury yields. Concerns about the possibility of inflation from President-elect Donald Trump's upcoming trade and immigration policies have boosted the appeal of gold as an inflation hedge and a safe-haven asset.
The yield on the 10-year US Treasury note hit an eight-month high above 4.68%, somewhat limiting the upside in non-yielding gold.
The market also maintained a risk-off attitude and did not bet on gold amid the usual cautiousness ahead of the NFP
A weaker-than-expected NFP could prompt the Fed to consider another rate cut, fueling the ongoing gold rally. Conversely, if the NFP news is stronger than expected, this could increase the Fed's hawkish bets, signaling a strong bearish trend for gold prices.
Personal prediction:
Gold price before NFP news could reach $2690 or even further to the psychological level of $2700, so consider buying these two targets
The market is very volatile after the news, so wait for the market reaction
Setting price range
BUY GOLD $2668_ $2670 SL: $2662
TP1: $2675
TP2: $2680
TP3: $2689
SELL GOLD $2719 – $2721 SL: $2726
TP1: $2715
TP2: $2710
TP3: $2705
Gold prices continued to rise for the fourth consecutive day despite the continued strength of the US dollar (USD) and US Treasury yields. Concerns about the possibility of inflation from President-elect Donald Trump's upcoming trade and immigration policies have boosted the appeal of gold as an inflation hedge and a safe-haven asset.
The yield on the 10-year US Treasury note hit an eight-month high above 4.68%, somewhat limiting the upside in non-yielding gold.
The market also maintained a risk-off attitude and did not bet on gold amid the usual cautiousness ahead of the NFP
A weaker-than-expected NFP could prompt the Fed to consider another rate cut, fueling the ongoing gold rally. Conversely, if the NFP news is stronger than expected, this could increase the Fed's hawkish bets, signaling a strong bearish trend for gold prices.
Personal prediction:
Gold price before NFP news could reach $2690 or even further to the psychological level of $2700, so consider buying these two targets
The market is very volatile after the news, so wait for the market reaction
Setting price range
BUY GOLD $2668_ $2670 SL: $2662
TP1: $2675
TP2: $2680
TP3: $2689
SELL GOLD $2719 – $2721 SL: $2726
TP1: $2715
TP2: $2710
TP3: $2705
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