GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 16 - Dec 20]

5 日前

At the beginning of this week, XAUUSD quite strongly from 2,627 USD/oz to 2,726 USD/oz, but then dropped sharply to 2,645 USD/oz and closed the week at 2,648 USD/oz.

The reason why international gold prices increased sharply in the first sessions of this week was because investors reacted to the fact that the People's Bank of China (PBoC) returned to buying 5 tons of gold in November after many months of temporarily stopping buying. reserve gold. Even with the six-month hiatus, the PBoC bought 34 tons of gold this year and remains one of the top central banks buying gold in 2024.

However, gold currently accounts for less than 6% of China's total foreign exchange reserves. This shows that the PBoC's room to continue buying gold reserves is still very large, especially when US-China tensions are increasingly escalating when President-elect Donald Trump threatens to impose very high tariffs on China.

However, after rising to 2,726 USD/oz earlier this week, gold prices once again fell sharply because US inflation remained persistent, affecting expectations of the FED's monetary easing cycle.

While the decision on FED monetary policy will receive more attention next Wednesday, the gold market will also receive important economic data that can impact the FED's monetary easing cycle, such as retail sales, revised third quarter GDP of the US...

📌Technically, the gold price still maintains an uptrend on the Daily technical chart, as the price is still above the EMA89 moving average. However, on the H4 chart, the movement of the moving average shows that the price is accumulating sideways, the resistance area to pay attention to is around the 2725 mark, while the important support zone is around the round resistance mark of 2600. In the coming week Many influential information can cause gold prices to fluctuate strongly beyond this sideways range.

Notable technical levels are listed below.
Support: 2,644 – 2,634USD
Resistance: 2,663 – 2,676 – 2,693USD

SELL XAUUSD PRICE 2751 - 2749⚡️
↠↠ Stoploss 2755

BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575

4 日前

ノート

Gold prices are expected to continue to retain their position as a safe-haven asset in 2025, as rising geopolitical and economic uncertainties, along with strong buying demand from central banks, are expected to continue. Expected to support prices

4 日前

ノート

4 日前

ノート

Preliminary PMI for the United States:
- Preliminary services PMI: 58.5 (Forecast: 55.7; Previous: 56.1)
- Preliminary manufacturing PMI: 48.3 (Forecast: 49.4; Previous: 49.7)
- Composite PMI: 56.6, previous: 54.9

3 日前

ノート

🔴Gold is currently under greater pressure.
Some of the most important recent factors are:
1. Wall Street expects the FED to give a "hawkish" signal;
2. Trump "talks" to Zelensky: Ready to reach an agreement to end the conflict between Russia and Ukraine;
3. Israel claims that it has “never come close to an agreement” on the hostage issue in Gaza.

一昨日

ノート

World gold prices fell in the trading session on Tuesday (December 17) after better-than-forecast US retail sales data increased the possibility that the Federal Reserve (Fed) may reduce interest rates less than expected. expectations in 2025. The USD exchange rate and US Treasury bond yields simultaneously increased after this report, also putting pressure on precious metals to depreciate.

21 時間前

ノート

Gold is under pressure to fall below the threshold of 2,600 USD. Rising US government bond yields and the rise of the USD have hindered gold's ability to recover, increasing downward price pressure. The Fed's tightening stance and positive economic data continue to strengthen the USD, putting pressure on the gold market. This trend shows that gold's short-term recovery prospects will be limited.