GOLD MARKET ANALYSIS AND COMMENTARY - [Feb 24 - Feb 28]

24 ก.พ.

XAUUSD continued to increase for the 8th consecutive week, marking the longest increasing streak in many years. Opening the week at 2,886 USD/oz, gold price peaked at 2,955 USD/oz and closed at 2,936 USD/oz. The main reason is concern about US tariff policy causing economic instability, increasing global gold demand. In addition, many central banks, especially in the BRICS bloc, are also actively buying gold.

Gold prices will have more room to rise higher due to the ongoing geopolitical and geo-economic instability, including the Trump administration's tariff policy and the risk of political instability in Europe. Additionally, demand for investing in gold-backed exchange-traded funds is also growing.

The US PCE inflation report, released next Friday, may affect gold prices through FED interest rate adjustments. If PCE increases, the FED may delay cutting interest rates, which is detrimental to gold prices. On the contrary, if PCE drops sharply, the gold price could exceed 3,000 USD/oz.

SOME DATA THAT MAY AFFECT GOLD PRICES NEXT WEEK:
Tuesday morning will see the February US Consumer Confidence report, followed by January New Home Sales data on Wednesday.
On Thursday, markets will receive preliminary reports on US fourth-quarter GDP, January Durable Goods Orders and weekly jobless claims, followed by US pending housing contract data later in the morning.
However, the most important event of the week will be the US core PCE index on Friday, along with the January personal income and personal spending reports. This is the Fed's preferred inflation gauge, helping gold traders gauge the outlook for interest rates in the near term.

📌Technically, although the gold price is still maintaining an uptrend, however, on the Weekly and Daily charts, some technical indicators such as MACD show signs that the price has diverged, the moving average lines (EMA34,89) are quite far from the price line, this shows that the gold price next week may face adjustment pressure before continuing to increase again, unless there are fundamental factors that have a strong impact on the gold price.

Notable technical levels are listed below.
Support: 2,922 – 2,915USD
Resistance: 2,946USD

SELL XAUUSD PRICE 3001 - 2999⚡️
↠↠ Stoploss 3005

BUY XAUUSD PRICE 2834 - 2836⚡️
↠↠ Stoploss 2830

25 ก.พ.

บันทึก

25 ก.พ.

บันทึก

♦️ Spot gold price fell below 2,930 USD/ounce, down 0.77% on the day.

25 ก.พ.

บันทึก

🔴 Spot gold prices fell $60 on the day after the US consumer confidence index in February recorded its biggest monthly decline in more than three years.
In addition, gold prices broke out of the uptrend channel that lasted nearly 2 months.

26 ก.พ.

บันทึก

Gold prices fell in the afternoon session of February 25 as investors took profits after reaching a record high due to concerns that US President Donald Trump's plans to impose taxes could increase inflation and cause a global trade war.

28 ก.พ.

การซื้อขายยังคงดำเนินอยู่

Weekly Plan BUY +150pips close a part move SL to entry.🔥

6 วันที่ผ่านมา

บันทึก

▫️ Spot gold prices fell below $2,860 an ounce at one point, with intraday gains narrowing to 0.1%.