GOLD stable, pay attention to data and upcoming events

3 дня назад

On the Asian market on Tuesday (December 17), XAUUSD Spot delivery is basically stable, gold price is currently around 2,651 USD/ounce and there are almost no significant fluctuations.

In the coming days, the Federal Reserve, Bank of England and Bank of Japan will hold monetary policy meetings to decide on interest rates, while also hinting at what 2025 might hold.
The Fed is expected to cut base interest rates by 25 basis points. The change has long been priced in, meaning the focus will be on the Summary of Economic Projections (SEP), or Dotplot chart, in which policymakers detail their expectations on inflation, growth, interest rates and employment. These will have a significant impact on the US Dollar.
CME's "Fed Tracker" shows traders see a 95.4% chance the Fed will cut interest rates by 25 basis points on Wednesday.
Today (Tuesday), the US Census Bureau will release retail sales data for November, which is expected to trigger market volatility during this trading day.
Surveys show U.S. retail sales are expected to rise 0.5% monthly in November, after rising 0.4% in October.
US retail sales data typically has a greater impact on financial markets, potentially influencing the trend of assets such as the US dollar and gold.
If US retail sales data is stronger than expected, the US Dollar could strengthen, thus pushing gold prices back down; On the other hand, a weaker-than-expected retail sales report will stimulate a recovery in gold prices.
In addition, on the same day, the NAHB home price index in the US will be announced for December, which is expected to increase slightly to 47 from the previous value of 46.

In terms of technical structure, not much has changed so readers can review the previous weekly publication linked below.

In the coming time, the technical chart of gold prices will be noticed by some notable patterns as follows.
Support: 2,644 – 2,634USD
Resistance: 2,663 – 2,676 – 2,693USD

SELL XAUUSD PRICE 2680 - 2678⚡️
↠↠ Stoploss 2684

→Take Profit 1 2673
↨
→Take Profit 2 2668

BUY XAUUSD PRICE 2621 - 2623⚡️
↠↠ Stoploss 2617

→Take Profit 1 2628
↨
→Take Profit 2 2633

3 дня назад

Заметка

🔴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.

позавчера

Заметка

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.

20 часов назад

Заметка

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.