05 Aug 2024, 12:59 · Views 577

Product: XAU/USD Prediction: Increase Key Points: Fundamental Analysis: - US NFP Report: July's hiring fell short of expectations at 117K (expected: 175K). Softer wage growth (3.7% annual) lessens inflation fears, boosting XAU/USD. - Safe-Haven Demand: Escalating tensions between Iran and Israel increase gold's appeal as a safe haven. Technical Analysis: - Price Channel: Gold is trading within a slightly rising channel. The 50-day EMA at $2,370 supports bulls. - RSI Indicator: The 14-day RSI is nearing 60.00; a rise above this level could indicate further upward momentum. - Resistance and Support: A break above $2,483.75 (all-time high) may lead to new highs. Key support is at $2,225, from the upward-sloping trendline. Gold's outlook remains positive with potential for significant gains if current trends continue. 🚀 Cash Reward Challenge Alert! 🚀 💰 Last Chance! Only 5 slots left for the exclusive KVB Cash Reward Challenge! 💰 Click the link below to join for cash reward challenge https://shorturl.at/Jpck8

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Gurdip Singh

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Business Development Manager At KVB Can find me at WhatsApp : +601131429510

Product: XAU/USD (Gold) Outlook: Bullish Key Points: Gold fluctuated on Tuesday, briefly dipping to $2,349.31 before rebounding above $2,360 amid cautious trading. Federal Reserve Chair Jerome Powell's hawkish remarks on inflation supported the US Dollar, emphasizing ongoing economic uncertainties. Technical analysis shows potential for a short-term reversal near $2,388, with support at $2,342 and resistance at $2,393. Despite current sideways trends, the long-term uptrend in Gold remains favorable, offering strategic opportunities for traders. This concise summary highlights the current trends and potential movements in the XAU/USD market, appealing to both seasoned traders and those new to market analysis.

Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: * Recently, the glitter of spot gold dimmed as it slipped below $2,400, despite briefly touching highs above $2,430. Initially fueled by a weaker dollar and hopes of a Fed rate cut, the precious metal lost its shine due to profit-taking and a surge in U.S. Treasury yields, closing down 0.51% at $2,396.86. * A notable rise in the U.S. 10-year Treasury yield to 4.274% added pressure, traditionally unfavorable for gold. The focus now shifts to upcoming U.S. economic data—Thursday’s Q2 GDP and Friday’s PCE price index—to gauge inflation, crucial for the Fed's policy stance. Technical Analysis: * On the technical front, the Relative Strength Index (RSI) remains bullish but is showing signs of flattening, indicating uncertainty among traders. * Key support levels are identified: A drop below $2,384 could trigger a deeper correction towards the 50-day Simple Moving Average (SMA) at $2,359, with further downside potential to the 100-day SMA around $2,315. * Conversely, breaking above Wednesday's high of $2,430 would pave the way for resistance levels at $2,450, the all-time high of $2,483 per ounce, and potentially targeting the psychological barrier of $2,500. In summary, while challenges persist with rising yields and profit-taking, the technical setup suggests potential upward momentum if key resistance levels are breached, making the journey to $2,500 an enticing prospect for gold bulls.

Gurdip Singh

Product: XAU/USD (Gold against the US Dollar) Prediction: Decrease Fundamental Analysis: - Gold prices fell by 0.9% on Wednesday after U.S. inflation data showed a decrease in inflation for July. - Despite this drop, gold is still close to its record high from last month and has risen by 19% this year due to expectations of easier monetary policies and increased central bank gold purchases. - The U.S. dollar strengthened against other currencies after the data, making gold more expensive for non-U.S. dollar holders. - The yield on the 10-year U.S. Treasury bond also rose significantly. Technical Analysis: - The daily chart shows XAU/USD trading within its usual range but forming a lower high and lower low, a bearish sign. - Technical indicators have slightly declined but remain positive, so a significant drop is less likely. - Gold prices are above all key moving averages, with the 20-day SMA flat and above the 100 and 200-day SMAs. Overall, a sharp decline seems unlikely.

Gurdip Singh

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Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: The price of gold has recently encountered a three-day decline, settling around $2,410 per ounce. This dip can be attributed to several influencing factors: A slight weakening of the US dollar. Speculation surrounding the upcoming US presidential election, particularly the potential resurgence of a "Trump trade" scenario favoring the US dollar and Treasury bond yields. Anticipation of a Federal Reserve interest rate hike in September, reducing the allure of non-yielding assets like gold. Despite these pressures, the outlook remains dynamic, shaped by ongoing market developments. Technical Analysis: Technically, gold has seen a recent downturn, touching approximately $2,410 during Friday's European trading session. This drop followed an inability to sustain above the critical $2,450 threshold. However, the short to long-term exponential moving averages continue to trend upward, underscoring a positive near-term outlook. Moreover, a significant support level is anticipated near the rising trendline from the February low of $1,984.30, reinforcing bullish sentiment. Although the 14-day Relative Strength Index (RSI) has declined to 58, signaling reduced upward momentum, the overall bias towards gold remains favorable. 📊 Key Takeaways: Fundamentals: Watch for US dollar strength and election-related speculations. Technicals: Support levels near the $2,410 mark and upward trending moving averages suggest resilience. 🔍 Stay informed as market dynamics unfold, and seize opportunities wisely! For more insights and updates: 🌐 Explore our official website: www.kvbplus.com 🔗 Register your account now: https://shorturl.at/kuscX #KVB #KVBOfficial #KVBGlobal #GoldAnalysis #MarketInsights #TradingTips #EconomicOutlook

Gurdip Singh