GOLD → Favorable fundamental background. Will we go to 2450?

12 ก.ค.

XAUUSD updates high to 2424 amid favorable news. Buyers are returning with the belief that the dollar will continue to fall on the back of the imminent interest rate cuts.



CPI indicates significant easing of inflationary pressures in June. Annual inflation fell to 3%, the lowest rate in a year. This report provides evidence to the Fed that inflation is easing, but most likely it is not enough for them and they will need 1-2 reports confirming the fact that inflation is under control and a move into deflation is forming.
Ahead of PPI and traders are focusing on this report as favorable data could reinforce fresh selling in the US Dollar. This, in turn, could trigger a rise in gold prices. But, it is worth considering the unpredictability of the news in your trading.

Resistance levels: 2411, 2416, 2424
Support levels: 2396, 2392, 2385

Technically, a small correction is possible after a false breakdown of resistance, which in general may lead to testing the imbalance zone before the next growth, if the fundamental background after PPI is maintained or intensified....

Rate, share your opinion and questions, let's discuss what's going on with gold ;)


Regards R. Linda!

12 ก.ค.

การซื้อขายยังคงดำเนินอยู่

13 ก.ค.

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14 ก.ค.

การซื้อขายยังคงดำเนินอยู่

What can gold expect in the coming week?

Former US President Donald Trump survived a dramatic attempted assassination incident during a campaign event in Pennsylvania on Saturday
The incident has increased Trump's chances of winning the presidential election, which in turn could benefit crypto markets. Trump's victory could boost the value of bitcoin and the crypto industry due to his crypto-friendly approach.

But what will happen to the GOLD market?
The Asian session may see capital inflows into hedge assets such as gold, bitcoin as well as the dollar. The question of correlation remains open, as until the situation stabilizes, prices will be influenced by crowd behavior rather than market physics.
There is potential for additional volatility due to low liquidity as Japan is absent from trading due to a national holiday.
Technically, gold has two local resistances: 2418 and 2424. A breakdown of these zones will open the way to ATH or even higher...
Global and local trends are bullish + the fundamental background strengthens the overall situation in the gold market, which may attract another batch of investments to the market.
It is still unknown how the situation will develop from the opening of the session. On the background of low liquidity, high volatility may allow to test or even renew highs, but I would not recommend to open positions from the opening of the session, it is worth waiting for stabilization of the situation, low liquidity and high volatility can greatly harm constructive trading. There is a high probability of opening the session with a gap.

Regards R. Linda!

15 ก.ค.

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The news that happened over the weekend had no effect on gold. There was a small gap, but it was quickly dealt with.
We can breathe)