GOLD recovered strongly by India

24. Juli

XAUUSD Strong recovery, Gold price reached 2,418 USD/ounce during the Asian trading session on July 24.
Spot gold ended a four-session losing streak as India's move to cut import taxes on gold and silver is expected to boost global gold demand.

India plans to significantly reduce import duties on gold and silver
The Indian government on Tuesday announced plans to reduce import tax on gold and silver from 15% to 6%. The move could boost retail demand and help curb smuggling in India.

“To increase the domestic value addition of gold and precious metal jewellery, I propose to reduce customs duty on gold and precious metals,” Finance Minister Nirmala Sitharaman said in her budget speech on Tuesday. silver down 6%.”
Increased gold demand in India could push up global gold prices because India is the world's second largest gold consumer.

In addition to news from India, falling US bond interest rates is also a positive signal for gold.
Gold prices recovered, due to falling US Treasury bond yields. The US 10-year Treasury yield fell 1.5 basis points to 4.24%, which is a positive signal for gold.
Traders are awaiting key US economic data, including June inflation and Q2 GDP, to gauge the Fed's next move.

According to CME Group's "FedWatch" tool, the market expects a 96.1% chance that the Fed will cut interest rates in September.
Since gold does not earn interest, cutting interest rates could reduce the opportunity cost of holding gold, thereby making gold more attractive to investors.

Pay attention to important US data
The focus this week will be on US second-quarter GDP data on Thursday and the latest personal consumption expenditures (PCE) price index on Friday, as this is the Fed's preferred measure of inflation.
A weaker PCE is expected to be positive for gold, mainly because the market will be more confident that the Federal Reserve will begin cutting interest rates in September.

Analysis of technical prospects for XAUUSD
On the daily chart, up to now, gold is having its second day of recovery since profit-taking pressure caused gold prices to adjust to the important support area around 2,390 - 2,400 USD. Attention readers before.

Gold prices also achieved the initial target recovery level at the $2,416 area noted in yesterday's publication and with the current momentum, the next target level will be around $2,430.
If gold breaks the 2,430 USD level, the bullish outlook will continue to open up with a new cycle and the subsequent target level of about 2,465 USD, the price point of the 0.328% Fibonacci extension.

As long as gold remains above EMA21 and within the trend price channel the main trend remains bullish and the bullish structure is not affected, pullbacks do not take gold price below EMA21 then it should only be considered as short-term adjustments.

During the day, the uptrend of gold prices will be noticed by the following technical levels.
Support: 2,400 – 2,390USD
Resistance: 2,420 – 2,430USD

🪙SELL XAUUSD | 2434 - 2432

⚰️SL: 2438

⬆️TP1: 2427
⬆️TP2: 2422

🪙BUY XAUUSD | 2372 - 2374

⚰️SL: 2368

⬆️TP1: 2379
⬆️TP2: 2384

24. Juli

Anmerkung

🔴Gold rises before important data, and breaking this resistance will push it to a new level

Gold prices rose on Wednesday, as investors awaited US economic data that may affect the schedule for interest rate cuts by the US Federal Reserve.

Investors are anticipating key US data this week, including the second-quarter GDP reading on Thursday and the June Personal Consumption Expenditures price index figure on Friday, to provide further signals on the timeline for interest rate cuts.

24. Juli

Trade geschlossen: Ziel wurde erreicht

Plan SELL Hit Full TP2 + 100pips🤕🤕🤕. Congratulations everyone

25. Juli

Trade ist aktiv

Plan BUY HIT TP1 +85pips. Heading to TP2 😵😵😵

25. Juli

Anmerkung

27. Juli

Anmerkung

Gold prices increased 1% on Friday (July 26), as US Government bond yields fell due to optimism that the US Federal Reserve (Fed) will lower interest rates in September, after data showed that inflation in the US increased slightly in June.

28. Juli

Anmerkung

World gold prices increased sharply in the trading session on Friday (July 26), as the latest inflation report increased expectations that the US Federal Reserve (Fed) would start cutting interest rates in September, pulled US Treasury bond yields and the USD exchange rate down. Analysts predict a lack of consensus on the outlook for gold prices next week, when the Fed has its regular monetary policy meeting.

29. Juli

Anmerkung

The issue of USD policy resurfaced after Trump's interview with Bloomberg, as part of his presidential re-election campaign. "We have a currency problem, as you know. It's the currency." he said during a discussion about policy priorities for a second term.

30. Juli

Anmerkung

Gold prices fell in the trading session on Monday (July 29), as the USD strengthened before the US Federal Reserve (Fed) began its two-day monetary policy meeting. Although gold prices are struggling at prices below 2,400 USD/oz, some analysts believe that gold prices are still capable of setting a new record this year.