GOLD's recovery is limited, pay attention to this week's data
ที่อัปเดต:
XAUUSD remained stable above 2,600 USD last week, mainly supported by rising geopolitical tensions, but after Donald Trump won the US Presidential election, gold was still under pressure to restrain the possibility of price increases in terms of price. Basically because the USD will be supported by Trump's victory.Regarding gold's latest recovery, after US personal consumption expenditure (PCE) data released earlier this week was in line with expectations, market expectations of an interest rate cut in May 12 by the Federal Reserve increased, pushing gold prices higher.
Currently, the market is pricing in a roughly 66% probability that the Fed will cut interest rates by 25 basis points in December, a significant increase from more than 50% a week ago.
Geopolitical tensions in Europe caused by Russia's missile attack on Ukraine also provided support for safe-haven assets such as gold.
The Israeli military said its air force on Thursday attacked a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as the two sides accused each other of violating a ceasefire despite the agreement. previous agreement.
Russia on Thursday launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country.
Gold is often seen as a safe investment during times of economic and geopolitical instability.
Gold prices have fallen about 3% this month and hit a two-month low on November 14. This is mainly because the US Dollar has strengthened since Trump was elected and his tariff policies are believed to be likely to push up inflation, thereby slowing down the cycle of US interest rate cuts. Federal Reserve.
This week the US will release key economic data including job vacancies, the ADP jobs report and the nonfarm payrolls report, which could provide guidance on the Fed's policy outlook.
Economic data to watch out for this week
Monday: ISM manufacturing PMI
Wednesday: ADP Working Data, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit
Wednesday Thursday: Claim weekly unemployment assistance
Friday: US nonfarm payrolls report, preliminary University of Michigan consumer sentiment
![GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 02 - Dec 06]](https://s3.tradingview.com/n/NcWcqLRO_mid.png)
Analysis of technical prospects for
XAUUSD Gold is trying to recover but is still limited by the 0.50% Fibonacci level and EMA21. Note to readers in yesterday's edition.
In terms of overall structure, gold is still inclined to a bearish outlook with the main trend from the price channel, main resistance from EMA21, while the Relative Strength Index has not yet been able to surpass 50. Because So in terms of trends and dynamics, gold still has the prospect of decreasing in price more than increasing.
As long as gold remains within the price channel, it does not technically have enough room for a long-term rally, so rallies should only be considered short-term rallies.
In the immediate future, if gold falls below the 0.618% Fibonacci retracement level, the next downside target will be noticed at around the original price of 2,600 USD.
In summary, the technical outlook on the daily chart of gold prices leans to the downside with notable highlights listed as follows.
Support: 2,606 – 2,600USD
Resistance: 2,663 – 2,693USD
SELL XAUUSD PRICE 2651 - 2649⚡️
↠↠ Stoploss 2655
→Take Profit 1 2644
↨
→Take Profit 2 2639
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
บันทึก
Gold prices fell on Monday (December 2), breaking a streak of four straight sessions of gains, as the dollar strengthened and investors braced for key economic data and details from the Reserve The US Federal Reserve (Fed) on interest rate roadmap.ปิดการเทรด: ถึงเป้าหมายการทำกำไร
Plan SELL Hit Full TP2 + 120pips🤕🤕🤕. Congratulations everyoneบันทึก
บันทึก
The gold market is going through a tense period, as investors and analysts focus their attention on upcoming US economic data. These figures are expected to be the "key" to decoding the Fed's monetary policy direction in the coming months.บันทึก
According to the Fed, the upcoming JOLTS employment data can provide a more comprehensive picture of the basic trend of the economy in the near future.
The possibility of a rate cut is currently valued at 70%, but this number could change based on today's data and will impact the USD.
บันทึก
▫️Spot Gold hit $2,650 an ounce or more, up 0.25% on the day.บันทึก
Gold increased to 2,654 USD/ozบันทึก
Gold price is around 2,652 USD/ounce, up 10 USD compared to before. Gold prices increased again mainly due to the previous strong downward adjustment and investors still expect a long-term upward trend of this precious metal when the US and the world are entering a cycle of reducing interest rates to reduce interest rates. support economic growth.บันทึก
🔴Spot gold fell below 2,630 USD/ounce, down 0.76% on the day.บันทึก
▫️Spot Gold stood at $2,640 an ounce, up 0.31% on the day.
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