Gold Analysis: As we expected and mentioned in both our technical and fundamental analysis, I anticipated the NFP figure to be lower than the forecasted rate, and that’s exactly what happened. The actual figure came in at 114K, which is lower than the forecasted rate of 176K! This led to a spectacular rise in gold prices,…
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Gold Analysis: As you can see, gold started to decline from the supply zone at $2460 and corrected down to $2430. However, it then faced a surge in demand and was able to climb up to $2468.5. Currently, gold is trading around $2459. If today’s NFP data is announced to be lower than the forecasted rate,…
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Gold Analysis: By analyzing the #Gold chart in the 2-hour timeframe, we can see that the gold price continued its upward movement due to tensions in the Middle East, reaching up to $2,458.5. Gold futures also set a new all-time high in the Asian session today, climbing to $2,502. Currently, the spot gold price is trading…
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Gold News Gold Price Stability: Gold held around $2,450 per ounce on Thursday after a 1.6% climb in the previous session, staying close to record highs. Federal Reserve Impact: The Federal Reserve kept interest rates unchanged, suggesting a possible shift towards a less restrictive monetary policy due to cooling consumer prices and a weakening labor…
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Gold Analysis: By examining the #Gold chart in the 2-hour timeframe, we can see that, as expected and explained in the previous post, gold continued its rise and filled the LV we had marked on the chart, reaching up to $2425. Considering that gold has reached the significant supply zone of $2421 to $2432, the current…
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Gold News Rate Hold Projection: The Federal Reserve is expected to keep the interest rate flat at 5.50%. Gold Prices Rise: Gold prices have increased for the second straight day, reaching $2,420 per ounce, up more than $40 from the previous day’s opening level of $2,377 per ounce. Market Expectations: The rise in gold prices…
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Gold Analysis: Upon reviewing the 2-hour chart of #gold, we observe that yesterday’s price initially rallied, maintaining support at $2389 and rising to $2396. However, this was short-lived as gold faced selling pressure, correcting down to $2369. As highlighted on the chart, the $2365 to $2375 zone is a significant demand zone, where the price respected…
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Gold News Support Factors: Anticipated interest-rate cuts in the U.S. and renewed interest from Western investors are expected to support gold prices. Demand Increase: Gold demand rose 4% year-on-year to 1,258 metric tons in the second quarter, the highest since 2000. Record Prices: Prices hit a record of $2,427 per troy ounce, with an average…
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Gold Analysis: By analyzing the #gold chart on the 2-hour timeframe, we observe that, as expected, the price continued its upward movement with the market opening. It managed to completely fill the targeted Fair Value Gap (FVG) and hit the $2393 target! Ultimately, gold reached up to $2403.3, providing us with nearly 500 pips of profit.…
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Gold News Current Price: Gold rose above $2,400 per ounce on Monday but now the price is $2391 (SPOT GOLD) Rate Cut Expectations: Hopes for Federal Reserve rate cuts are driving gains, with markets fully pricing in a rate cut in September and two additional cuts by the end of the year. June PCE Reading:…
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