Precious Metals Market Analysis

Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone

Bullish scenario: Intraday buys above 2160.00 with TP: 2171 and TP2: 2177 // Bearish scenario: Sells below 2177 with TP1: 2150, TP2: 2142, and 2126

This article uses price action and volume profile techniques to address a fundamental and technical perspective based on the daily chart analysis of spot gold (XAUUSD).

On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...

Bearish Scenario: Selling below 22.65 with TP1: 22.34 (intraday) and TP2: 22.02 (swing). Bullish Scenario: Buying above 22.70 with TP1: 22.90.

Following the CPI data release on Tuesday, the price of Gold dropped from its recent high at $2,000 all the way through to the $1980 region where it is currently sitting. As we anticipate what could be next for the yellow metal ahead of the Retails sales data release from the US. In the meantime...

Gold prices, stable above $2,000 per ounce, commenced the week on an uptrend driven by a rallying US dollar and anticipation surrounding the upcoming Federal Reserve meeting. Analysts highlight that the market is keen on the Fed's signals for the coming months rather than immediate announcements.

Intraday Bullish Scenario: Consider buying above 2028.50 with TP1: 2033, TP2: 2036, and TP3: 3039 on extension. Intraday Bearish Scenario: Look for sales below 2024 with TP1: 2000, TP2: 2016, and upon breakout TP3: 2013.

Gold prices, currently near $2,030, saw a modest decrease of 1% over the past week and a 2% dip since the start of 2024. Meanwhile, silver surpassed $22 per ounce, experiencing a 4% drop in the week and a 6.5% decline in the year so far. Upcoming scrutiny of economic data, particularly the Q4 US GDP report

Main Scenario: Buys above 2030 with targets at 2035, 2039, and 2042 as extensions. Alternative Scenario: Sells below 2024 with targets at 2017, 2013, and 2008 as extensions.

The price of Gold (XAU/USD) has experienced a significant sell-off, dropping to around $2,040 after failing to surpass the weekly high of $2,062…

A wealth of scientific and independent research confirms the nature of gold as a safety asset and emphasizes its importance in investment and pension portfolios. This part of investment fund distribution is designed to increase profitability and combat the overall level of volatility. However, not everyone agrees with this statement.