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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Gold Analysis: By examining the #gold chart on the 2-hour timeframe, we observe that, as expected, the gold price experienced further growth and managed to hit the target of $2381.5, even reaching $2391. Currently, gold is trading around the $2385 range, and we need to see tonight’s closing price to predict the potential price trend for…
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Gold Analysis: By reviewing the 2-hour timeframe chart of #gold, we can see that after the analysis I shared last night, the price began to rise again from the same demand zone we were looking at. It gained over 260 pips, reaching up to $2379.5. Currently, the price is trading around $2375, and if it stabilizes…
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Gold News Gold prices have risen but are expected to end the week with a modest loss due to profit-taking and negative sentiment in the commodities market. Futures are trading 0.7% higher at $2,369.80 per troy ounce after dropping in the previous session due to stronger-than-expected U.S. 2Q GDP data. Traders continue to anticipate that…
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Gold Analysis: Upon analyzing the gold chart on the 2-hour timeframe, we observed that, as anticipated, the price entered the designated demand zone and managed to rise from $2358 to $2376, yielding a return of 180 pips. However, it faced selling pressure again and is currently trading around $2354. We need to monitor whether this level…
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Gold Analysis: Upon reviewing the #gold chart on the 2-hour time frame, we see that after hitting both targets at $2420 and $2429 and reaching as high as $2432, gold faced selling pressure and couldn’t register further gains, resulting in a total return of around 320 pips. Now that gold has declined to lower levels, it…
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Gold News Gold dropped to around $2,370 per ounce, the lowest in two weeks. Investors are cautious ahead of key US economic data. Key data includes Q2 GDP figures and June PCE price index report. Q2 GDP growth is expected to be 2%, up from 1.4% in Q1. PCE price index is forecasted to rise…
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Gold Analysis: By analyzing the #gold chart on the 2-hour timeframe, we observed that, as expected, the price resumed its upward trend after an initial correction. It achieved a 190-pips increase, reaching up to $2419. Currently, it is trading around $2416. If the support level at $2410 holds, we can anticipate further price growth. The potential…
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Gold News Gold Prices: Gold prices rose by 0.2% to $2,413.63 per ounce, with U.S. gold futures gaining 0.3% to $2,414.40. Interest Rate Cuts: Market participants are assessing the timing and number of U.S. interest rate cuts, with expectations of two cuts in September and December. U.S. Economic Data: Upcoming U.S. GDP data and PCE…
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In this document, I cover the critical concept of Break of Structure (BOS) in ICT (Inner Circle Trader) methodology. Understanding BOS is essential for identifying trend reversals and continuations, which can significantly enhance your trading strategy. By mastering this concept, you can make more informed trading decisions and improve your chances of profiting from market…
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