GOLD fell slightly, but the target is the all-time high
On the Asian market on Tuesday (August 13), gold was delivered immediately 
XAUUSD A slight decrease after a pressure increase close to the all-time peak is the price increase target sent to readers recently. Concerns about escalating tensions in the Middle East have fueled safe-haven buying, with gold now aiming for $2,500 an ounce once its all-time peak is surpassed.
Gold jumped amid growing speculation that the Federal Reserve is unlikely to delay any more interest rate cuts. The Federal Reserve is expected to cut interest rates for the first time at its upcoming September meeting, possibly by 50 basis points.
Gold started the new week positively in the context of slowing demand for the US Dollar. Meanwhile, concerns about escalating tensions in the Middle East are boosting gold demand. Western countries warn that Iran could launch an attack on Israel, which would reduce the possibility of a ceasefire.
The Wall Street Journal reported Monday that Israel placed its military on high alert Monday after learning of preparations by Iran and the militant group Hezbollah.
The Wall Street Journal said: "Israel put its military on high alert for the first time this month after witnessing Iran and Hezbollah preparing to launch attacks. Israel does not know whether an attack is imminent." happening or not but they are taking action".
Israeli military spokesman Hagari issued a statement Monday evening local time, saying that the Israeli military is “Closely monitoring developments in the region, especially the activities of Hezbollah and Iran in Lebanon, and prepare defenses to respond to attacks.”
Rising tensions in the Middle East have also created some safe-haven demand, and gold has always been a top choice for traditional haven demand. As we have sent to readers throughout recent publications, gold is receiving active support by the two most important fundamental factors:
- On the one hand, the USD has less attractive prospects when the Fed is very close to its first interest rate cut, and the market also has many speculations that the Fed will have more cuts this year. . The cutting cycle begins, the USD's correlation with gold weakens and this is an important driving force supporting gold prices.
- On the other hand, gold always reacts positively to market risks, especially geopolitical risks that always create surprises that cause gold prices to skyrocket.
Analysis of technical prospects forXAUUSD
For the time being, gold is limited by its all-time high and also the 0.618% trend-following Fibonacci extension.
However, the gold price has all the technical conditions for a bullish outlook with the main trend being noticed by the trend price channel, the main support is also noticed by the 21-day moving average (EMA21).
As long as gold remains above the EMA21 and within the price channel, the short to medium term technical outlook remains bullish, while the RSI crosses above 50 and remains bullish but has not yet reached the overbought, showing that there is still plenty of room for price increases ahead.
During the day, the technical outlook for gold prices is bullish with notable levels listed below.
Support: 2,450 – 2,448USD
Resistance: 2,477 – 2,484USD
🪙SELL XAUUSD | 2501 - 2499
⚰️SL: 2505
⬆️TP1: 2494
⬆️TP2: 2489
🪙BUY XAUUSD | 2424 - 2426
⚰️SL: 2420
⬆️TP1: 2431
⬆️TP2: 2436
XAUUSD A slight decrease after a pressure increase close to the all-time peak is the price increase target sent to readers recently. Concerns about escalating tensions in the Middle East have fueled safe-haven buying, with gold now aiming for $2,500 an ounce once its all-time peak is surpassed.Gold jumped amid growing speculation that the Federal Reserve is unlikely to delay any more interest rate cuts. The Federal Reserve is expected to cut interest rates for the first time at its upcoming September meeting, possibly by 50 basis points.
Gold started the new week positively in the context of slowing demand for the US Dollar. Meanwhile, concerns about escalating tensions in the Middle East are boosting gold demand. Western countries warn that Iran could launch an attack on Israel, which would reduce the possibility of a ceasefire.
The Wall Street Journal reported Monday that Israel placed its military on high alert Monday after learning of preparations by Iran and the militant group Hezbollah.
The Wall Street Journal said: "Israel put its military on high alert for the first time this month after witnessing Iran and Hezbollah preparing to launch attacks. Israel does not know whether an attack is imminent." happening or not but they are taking action".
Israeli military spokesman Hagari issued a statement Monday evening local time, saying that the Israeli military is “Closely monitoring developments in the region, especially the activities of Hezbollah and Iran in Lebanon, and prepare defenses to respond to attacks.”
Rising tensions in the Middle East have also created some safe-haven demand, and gold has always been a top choice for traditional haven demand. As we have sent to readers throughout recent publications, gold is receiving active support by the two most important fundamental factors:
- On the one hand, the USD has less attractive prospects when the Fed is very close to its first interest rate cut, and the market also has many speculations that the Fed will have more cuts this year. . The cutting cycle begins, the USD's correlation with gold weakens and this is an important driving force supporting gold prices.
- On the other hand, gold always reacts positively to market risks, especially geopolitical risks that always create surprises that cause gold prices to skyrocket.
Analysis of technical prospects for
XAUUSD For the time being, gold is limited by its all-time high and also the 0.618% trend-following Fibonacci extension.
However, the gold price has all the technical conditions for a bullish outlook with the main trend being noticed by the trend price channel, the main support is also noticed by the 21-day moving average (EMA21).
As long as gold remains above the EMA21 and within the price channel, the short to medium term technical outlook remains bullish, while the RSI crosses above 50 and remains bullish but has not yet reached the overbought, showing that there is still plenty of room for price increases ahead.
During the day, the technical outlook for gold prices is bullish with notable levels listed below.
Support: 2,450 – 2,448USD
Resistance: 2,477 – 2,484USD
🪙SELL XAUUSD | 2501 - 2499
⚰️SL: 2505
⬆️TP1: 2494
⬆️TP2: 2489
🪙BUY XAUUSD | 2424 - 2426
⚰️SL: 2420
⬆️TP1: 2431
⬆️TP2: 2436
Заметка
Заметка
The headline CPI slowed on an annual basis from July to an increase of just 2.9%, below expectations of 3%, and below the previous reading of 3%.
Заметка
Investors strongly sold precious metals after the July consumer price index (CPI) report from the US Department of Commerce. What investors are interested in right now is at what level the Fed will start reducing interest rates, 0.25 percentage points or 0.5 percentage points...Заметка
A FED MEMBER MAKES IMPORTANT COMMENTS ON INTEREST RATES
St. Louis Federal Reserve President Alberto Musallem said the time is near for the U.S. central bank to cut interest rates.
Заметка
Gold prices pared gains on Thursday (August 15), as the dollar and bond yields rose after stronger-than-expected U.S. economic data could affect the scope of interest rate cuts from the Federal Reserve.Заметка
🔻The dollar held near a two-week high against the yen on Friday after posting its biggest daily gain against major currencies in four weeks, as strong U.S. economic data eased fears the economy was entering a recession.Заметка
Ending last week (August 12 - August 17), world gold price closed at 2,507 USD/ounce, an increase of 2.8% after one week. Previously, there was a time when precious metals reached 2,508.9 USD/ounce, the highest ever. This is a new peak, surpassing the old record of 2,483 USD/ounce in the July 19 session.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.