GOLD has bullish conditions, pay attention to inflation data

4 giorni fa

XAUUSD is accumulating upward momentum, rising to a new multi-week high above $2,680 an ounce. The technical outlook shows that gold prices have shifted to an uptrend in the near future. Next week, key economic indicators from China and the US inflation data will likely drive gold price movements.

The US government on Friday released a nonfarm report showing 256,000 new jobs were created last December, far higher than the expected 160,000 and the biggest increase in nine months. The unemployment rate in December was 4.1%, also the lowest with an expected value of 4.2%.

Reasons for XAUUSD The recovery after Friday's decline was due despite stronger-than-expected US nonfarm payrolls data, reducing the likelihood of a sharp interest rate cut by the Federal Reserve this year. However, the Trump administration's upcoming policies have brought uncertainty, increasing gold's safe-haven appeal.
It can be quite certain that, as soon as Trump takes office, a series of major changes in US economic and foreign policy will suddenly change and gold will always benefit in an economically unstable environment. geopolitics.

Gold investors will wait for US inflation data
Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday.
Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period.
If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher.

Gold investors will wait for US inflation data
Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday.
Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period.
If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher.
China's fourth-quarter gross domestic product (GDP) data could influence gold trends during the Asian trading session next Friday. Analysts expect China's annual GDP growth rate to reach 5.1% in the fourth quarter, higher than the 4.6% growth rate in the third quarter. A positive surprise could help gold prices edged higher, while disappointing GDP data could weigh on gold prices.
Market participants will also pay attention to new developments surrounding Trump's tariff strategy. While gold benefits from risk aversion, a sharp rise in US Treasury yields could limit gold's gains.

The economic calendar needs attention next week
Tuesday: US PPI
Wednesday: US CPI, Empire State Manufacturing Survey
Thursday: US Retail Sales, Philly Federal Reserve Survey, Weekly Jobless Claims
Friday: Housing construction starts and construction permits in the United States

Analysis of technical prospects for XAUUSD
From a technical perspective, on the daily chart, gold has achieved conditions for a short-term uptrend although the upward momentum is being hindered by the 0.382% Fibonacci retracement level. And once gold breaks above $2,693 it will be ripe for upside with a target of around $2,730 in the short term.

In terms of support factors, the POC Volume Profile level will be the closest support, combined with the EMA21 and Fibonacci 0.618% creating a reliable support area for each correction to ensure that, as long as gold does not If it breaks below the 0.618% Fibonacci level, it still has the potential to increase in price in the near future.

Meanwhile, the Relative Strength Index is also pointing up from level 50, still quite far from the overbought level with a significant slope, this is a signal for room for price increases in the near future. On the other hand, an uptrend price channel has also just been formed.

In the coming time, the technical outlook for gold tends to increase in price with notable levels listed as follows.
Support: 2,676 – 2,664USD
Resistance: 2,693 – 2,700USD

SELL XAUUSD PRICE 2711 - 2709⚡️
↠↠ Stoploss 2715

→Take Profit 1 2704
↨
→Take Profit 2 2699

BUY XAUUSD PRICE 2661 - 2663⚡️
↠↠ Stoploss 2657

→Take Profit 1 2668
↨
→Take Profit 2 2673

4 giorni fa

Nota

A stronger US employment report late last week led to an increase in the USD and US government bond yields. However, gold still managed to gain ground on Friday and came close to testing the $2,700 mark.

3 giorni fa

Trade chiuso: obiettivo raggiunto

Plan BUY HIT TP1 +70pips. Heading to TP2 😵😵😵

3 giorni fa

Nota

3 giorni fa

Nota

Gold price increased slightly:
- Spot gold is at 2669.36 USD/ounce, increasing thanks to concerns about President-elect Trump's policies and investors adjusting their positions before US inflation data.

l’altro ieri

Nota

USD decreased slightly: The strong increase in USD stopped, the market was cautious before US CPI inflation data. The USD fell because the PPI index was lower than expected, pulling US government bond yields down.

l’altro ieri

Nota

Spot gold reached 2,680 USD/ounce, up 0.11% on the day.

l’altro ieri

Nota

The US CPI index in December increased lower than forecast. This development not only helps calm the sell-off wave in the bond market but also strengthens the belief that the Fed can cut interest rates sooner than expected.

l’altro ieri

Nota

Spot gold fell below 2,690 USD/ounce, down 0.23% on the day.

18 ore fa

Nota

▫️ Spot Gold lost $2,710 per ounce, down 0.16% on the day.