14 Aug 2024, 13:21 · Views 536

Product: XAU/USD Prediction: Decrease Fundamental Analysis: U.S. Producer Price Index rose 0.1%, indicating slower inflation. With key U.S. inflation data due, XAU/USD prices fell after reaching a monthly high. A positive stock market and repositioning ahead of data added pressure on gold. Technical Analysis: Gold is near the $2483 resistance level. Bears may drive the price down to $2360 support. The price is currently range-bound between $2360 and $2483, with potential for further declines if resistance holds.

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Gurdip Singh

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

XAU/USD Snapshot Prediction: Decrease Market Insight: Gold prices saw turbulence following Fed Chair Powell's remarks and U.S. job data. Starting near $2337, they dipped to $2320, then rebounded to around $2330. Powell's cautious speech at an ECB event impacted sentiment, despite robust U.S. bond yields. Technical Outlook: Currently trading between $2320 and $2350, gold shows a bearish trend with neutral momentum (RSI near 50). Sellers eye breaking below $2300 towards $2277 support, while buyers look for breakthroughs at $2387 and $2400 above $2350.

Gurdip Singh

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Gurdip Singh

Gold (XAU/USD) Price Prediction: Uptrend Ahead Fundamental Analysis: Gold surged nearly 2% on Thursday, breaking a four-day losing streak as expectations for larger Federal Reserve rate cuts grew. Rising tensions in the Middle East also boosted gold’s appeal as a safe haven. Despite some USD strength, gold’s momentum remains strong. Technical Analysis: Gold bounced off the 50-day SMA, signaling a bullish trend. With positive momentum indicators, gold is likely to rise towards the $2,448-$2,450 range and could challenge the $2,483-$2,484 all-time high. A breakout above $2,500 could signal further gains. Don’t miss out! Two slots left for our cash reward challenge. Click the link below. https://shorturl.at/GVEql

Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: Central Banks: Reducing U.S. dollar investments, increasing gold reserves due to geopolitical tensions and economic uncertainty. Upcoming Data: U.S. CPI and retail sales data expected to impact gold prices. Middle East Situation: Tensions between Iran and Israel could influence gold demand. Market Trends: Geopolitical tensions typically boost gold, but recent market behavior shows other factors affecting gold's performance. Technical Analysis: RSI Movement: After falling below 50, the RSI rose to 60, indicating seller hesitation. Resistance Levels: $2470-$2480 (first resistance) $2500 (key psychological level) $2580 (upper trend channel limit if $2500 holds) Support Levels: $2410-$2400 (short-term support) $2370 (50-day moving average) $2350 (100-day moving average)

Gurdip Singh

Product: XAU/USD (Gold) Prediction: Bullish Key Points: - Gold showed resilience despite a slight dip in Friday's Asian session, following a 0.5% gain on Thursday fueled by expectations of Federal Reserve interest rate cuts. - Fed Chair Jerome Powell's comments hinted at proactive economic support, buoying market sentiment. - Temporary dollar strength from higher Treasury yields impacted prices briefly, but ongoing central bank gold purchases and optimistic forecasts support a bullish outlook. - Analysts project potential highs of $2,600 by late 2024 and $2,475 in Q1 2025, highlighting confidence in gold's long-term prospects. This concise summary captures the essence of the bullish sentiment in the XAU/USD market, blending fundamental insights and market dynamics for clarity and engagement.

Gurdip Singh