SantaTradeGold

SantaTradeGold Updated 

Gold prices continued to expand their gains thanks to safe-haven demand amid concerns over escalating tensions following the assassination of a Hamas leader in Iran. The war in Gaza and the deepening conflict in Lebanon have left the entire region in turmoil. In particular, the rise of this precious metal was further boosted when US Federal Reserve Chairman...

SantaTradeGold

A drop below $2,380 could continue to attract buyers near the 50-day SMA, around $2,360-2,359. A break-down of the 50-day SMA would push the price towards the $2,350 support. The price could then continue to decline towards the 100-day SMA, around the $2,325-2,324 region. Further downside could see XAU/USD test the sub-$2,300 levels or the June 2024 low. On the...

SantaTradeGold

Gold prices ended the US session and started the new day quite calmly compared to previous developments, trading around 2,400 USD after peaking on July 24 at 2,432 USD. Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased...

SantaTradeGold

Gold prices have formed a "Bullish Harami" pattern, but unfortunately cannot maintain the upward momentum and are currently struggling around the $2,400 mark. If it closes below this mark, gold prices will likely continue to decline. The RSI indicator is in the 40.0-60.0 zone and moving sideways, showing a balance between buying and selling power. If gold prices...

SantaTradeGold Updated 

World gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election. Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought...

SantaTradeGold Updated 

World gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal...

SantaTradeGold Updated 

XAU/USD has fallen for two consecutive sessions since hitting a new peak at $2,483, suggesting traders are taking profits after gaining more than 8.0% in the past three weeks. In the medium term, the general trend is still up, but the RSI indicator on the daily chart is turning down, showing that investors are somewhat cautious as the gold price gets closer to...

SantaTradeGold Updated 

Gold prices continued to decline on Thursday, although remaining around the old peak of $2,450. Currently, XAU/USD is trading around 2,444 USD, down more than 1.5% from its peak of 2,483 USD due to the greenback's recovery, supported by rising US government bond yields. Jobs data released by the US Bureau of Labor Statistics (BLS) showed that more people than...

SantaTradeGold

In his latest speech, Fed Chairman Jerome Powell once again expressed a dovish stance, but it could go in either direction. As has been pointed out many times, gold appears to be very sensitive, with just the slightest impact being able to push gold prices to new record highs in any given week. Robert Minter, Chief Strategy Officer of abrdn, said that inflation...

SantaTradeGold Updated 

World gold prices continue to climb and are at a historic peak due to the further weakening of the USD. According to the CME FedWatch tool, the market is betting on a 100% chance that the US Federal Reserve will cut interest rates on September 18. Earlier this week, Fed Chairman Jerome Powell said that recently released data "increases confidence" that inflation...

SantaTradeGold

In an interview with Kitco News, Robert Minter, Chief Investment Strategist at abrdn, said that Fed Chairman Jerome Powell's testimony before Congress last week appears to be the turning point the market has been waiting for. long time ago. During a two-day hearing on Capitol Hill, Fed Chairman Jerome Powell told Congress that risks to the economy now hang in the...

SantaTradeGold

The daily chart shows that gold still has room to expand its upward momentum. XAU/USD is trading significantly above all SMAs, which are steeply sloping up. At the same time, technical indicators are also increasing rapidly, moving deeper into the overbought zone but showing no signs of slowing down. Based on the H4 frame, gold is in the overbought zone in the...

SantaTradeGold

World gold moved sideways around 2,427 USD/ounce in the early trading session this morning, a number of important economic reports will be announced by the US this week. However, experts predict that the gold market will not change much after these reports. FxPro senior market analyst Alex Kuptsikevich said that the fact that XAU/USD remains firmly above the...

SantaTradeGold Updated 

Although the PPI index last week somewhat restrained the excitement, gold was still able to hold the important support level of 2,400 USD/ounce. Coming into the new week, world gold prices were under pressure from investors to take profits at the beginning of this morning's session when ECB officials announced that the central bank could cut operating interest...

SantaTradeGold

The assassination not only increased Mr. Trump's chances of victory but also increased the Republican Party's chances of a sweep. If Republicans gain control of the White House and both houses of Congress, they could enact tax cuts that would increase the budget deficit. That's how things work. When one party takes control, it's either Republicans cutting taxes...

SantaTradeGold Updated 

World gold increased amid unabated geopolitical instability in many regions. At the same time, countries tend to increase gold reserves and reduce dependence on the USD, supporting the price of this precious metal. Previously, in a meeting with the US Senate, Fed Chairman Jerome Powell said the US labor market had weakened and US Treasury Secretary Janet Yellen...

SantaTradeGold Updated 

Despite gold's consolidation phase, in a report published on Wednesday, commodity analysts at Citi said strong gold demand in the second half of the year could push XAUUSD towards 2,600, as the Investors flocked to precious metals. Along with renewed investor interest, analysts say they expect central bank demand to hit a record this year. According to the model,...

SantaTradeGold

"Capital inflows were widespread, with all regions recording positive increases except for North America, which saw a slight decline for the second consecutive month. Overall, yields fell across regions important and the weakening USD has made gold more attractive to domestic investors," analysts said. "Lower interest rates are a key factor driving capital flows...