Gold price drops - stabilizes by the end of 2024

7 พ.ย.

XAU / USD trend forecast November 7, 2024

Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest.

Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.”

Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months.

/// SELL XAU : zone 2682-2685

SL: 2690

TP: 50 - 150 - 300 pips (2655)


Safe and profitable trading

7 พ.ย.

การซื้อขายยังคงดำเนินอยู่

+ 50 pips, profit signal plan day 2682-2685

7 พ.ย.

ออเดอร์ถูกยกเลิก

2700 became a strong resistance area before the FOMC today - the bulls' effort