Gold Price Forecast: XAU/USD under pressure amid surging bond yields 

Gold price is weaker as the new week gets underway. Surging US Treasury bond yields and the dollar on the front foot are dragging down the yellow metal, economists at Comemrzbank report.

Rising interest rate expectations weight on gold

“Gold fell sharply to start the week. We attribute this on the one hand to the US dollar, which is continuing to appreciate. And on the other hand, bond yields are climbing further.” 

“We believe the rise in yields and thus the increase in real interest rates are due to the higher interest rate expectations of market participants. The Fed Fund Futures are meanwhile pricing in rate hikes of 90 basis points at the next two meetings of the US Federal Reserve. In our view the gold price is holding its own impressively well against this backdrop.”

“ETF investors have also not allowed themselves to be deterred as yet: the gold ETFs tracked by Bloomberg registered inflows of 43 tons last week – already their tenth weekly inflow in succession. By contrast, speculative financial investors have withdrawn further from gold, according to the CFTC’s statistics: they slashed their net long positions by 9% to a six-week low in the week to 22 March.”
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📕 Comment on Gold on October 8, 2021

In yesterday's trading session, precious metal Gold had a day going as the selling strategy suggested when it dropped from 1766 to 1751 and closed the day with a bearish candle around 1755. What if we  Looking at the chart of the last 4 trading sessions, precious metal Gold has days of ups and downs, but is still in an accumulation range and hasn't seen much change in price.  So in my personal opinion, in the beginning of today's session we are still trading in this sideways range.

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Comment on Gold on 07/10/2021

 In the trading session yesterday precious metal had 1 day gained from 1746 to 1765, ending the day with a gaining candle around 1762. With many candles withdrawing foot on the day chart for the past 3 days - Currently on the H4 time frame we can see the golden precious metal is plagued around 1765, this is also MA20 on the day's chart and according to my ability to have a small adjustment here. 

The gold price area can be adjusted to be around 1755-1758. Here we can establish a status of buying with gold precious metal with safety goals 1765 and expect 1775.

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Comment on Gold on October 6, 2021

In yesterday's session, precious metal Gold dropped from 1769 to 1748 ($ 19) and closed the day session with a bearish candle around 1759. Although closing with a bearish candle, the force was strong.  The decline in my opinion was not too strong and there was a sign of withdrawal, so at the beginning of today's session, I still prioritized the option to buy this precious metal.

Switching to a shorter time frame than H4, after Gold fell to 1748, the upward pressure appeared quite strong and pushed the price to 1762, and the 2 H4 candles now in my opinion are showing a correction to continued increase.  So around the current price of 1756, we can establish a long position with precious metal Gold with a target of 1765.

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Market News On Gold

 Gold

MARKET VIEW

Weekly changes: XAUUSD -1.59

After slow-burn over the past two weeks, gold found support at the level of 1,700. The precious metal has its worst first quarter in almost four decades.

The decline comes as higher yields dent the appeal of gold, which offers no interest. The strong dollar sank gold prices to a nine-month low as investors sold the precious metal to reduce the opportunity cost of holding the non-yielding asset.

KEY POINTS

The optimism that the rollout of Covid-19 vaccines will drive a global recovery has pushed investors to switch from the traditional haven gold to other assets.

Federal Reserve Chair Jerome Powell stopped short of forcefully pushing back against the recent surge in long-term borrowing costs, sending U.S. Treasury yields soaring.

The adoption by the Senate of President Joseph Biden's 1.9 trillion USD coronavirus relief bill, which should hand the U.S. a larger budget deficit and higher debt-to-GDP ratio — both is good for gold.

Today's Gold Market Update

📝 Comment on Gold on August 13, 2020:

   ‼ ️About news:

 - The US economic data continue to show positive signs of a recovery when the CPI in the US rose to 0.6% compared to the forecast of 0.3%, meaning that US consumers have returned to spending.  And it will boost the economic recovery, plus the expectation of Russian vaccine for treatment, prevention of COVID-19 is still the factor driving Gold prices down.

 - In addition, the negotiation on the new US stimulus package is at a standstill and there is no sign that the parties are willing to give in to return to the negotiating table, so it is likely that Gold will not return to momentum.  increase today.

 ‼ ️ About technical and personal opinion:

 - As I mentioned yesterday from morning till night to keep selling down on the GOLD when the price stood below 1980. And in the beginning of the session this morning I kept the same view that the resistance pushed the price.  down to establish a sell position around 1949-1965.  Targets will be on support levels at 1920-1907-188x. 

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11 August Gold Market Analysis For you

 📝 Comment on Gold on August 11, 2020:

 ‼ ️ Candlesticks on Thursday and Friday of last week form a short-term reversal candlestick so yesterday our strategy was to wait to sell down at 2050 and succeeded with that strategy.  As I mentioned that GOLD is making an adjustment trend that will be even lower than last Friday's "bottom" in 2015.

 - So in my personal opinion, I will still wait to sell GOLD when the price returns to 2029-2035.  This is also the closest resistance to push the price down on the day and the target will sell to around 2000.

 - The nearest gold lower support is 2000 and beyond is 198x.

Gold Market Short Term Quick Analysis

 📝 Comment on Gold on August 7, 2020:

   ‼ ️About news:

 The Trump administration has sent a top-level delegation to visit Taiwan over the past four decades.  China has voiced dissatisfaction and said it would certainly take countermeasures in response, as it still sees Taiwan as an inseparable entity.  => This is a move that escalates tensions between the two big men.

 - Besides that, investors are waiting for the negotiation on the new stimulus package to be approved.  It is likely that there will be a deal and the above 2 factors will continue to support the price of Gold going up today.

 - The market will wait for new information tonight on the non-farm payroll and the Unemployment Rate will be announced.

 ‼ ️ About technical and personal opinion:

 - The information plus risk sentiment has led to a continuous increase in gold price in recent days, and there have not been many signals to slow this uptrend.  As I have mentioned many days now, the buy trend will be dominant and only wait to buy.

 - Looking on the smaller timeframes M30, H1, we can see that the price recovered slightly compared to the uptrend and clung to the MA20 to go to the next highs.  In my opinion the price of gold in early trading today will still be supported so that the upside could be higher than this morning's peak when the market opened at "2075" heading up the 208x.

 - Maybe the amplitude of Gold before the news tonight will not be too strong because the market is waiting for the news to be announced, so we should pay attention to set the TP levels accordingly.  Price support pushed the price of gold up around the 2060 zone and resistance pushed the price down during the day around 208x.

Today's Quick & Short Term Analysis for Gold

📝 Commenting on Gold on August 3, 2020:

  ‼ ️ About news:

 - GOLD this morning had GAP from 1975 up to 1988 but then dropped again and is in 1972.

 - The driving factor for the increase in gold price is still being supported by the worry of a sharp outbreak again when the US is currently the country most heavily affected by the Covid-19 epidemic with over 4.7 million cases.  , of which more than 154,000 people died. US CDC projections show that the number of people killed by Covid-19 in the country could rise to more than 173,000 on August 22.

 - Over the weekend, Trump said that he plans to ban China's MXH Tiktok platform from operating in the US, which could create further tension between China and the US.

 - In addition, the US is negotiating through a new stimulus package worth 1,000B USD and if approved, the money will be pumped out, causing investment funds and financial institutions to buy gold to defend.  .

 - Today, PMI Manufacturing data from the United States is published, currently forecasts well for the USD.  And this week, the market will receive important US economic data such as non-farm payrolls, etc.

 ‼ ️ About techniques and personal views:

 - GOLD from last Tuesday (first time reached 1981) had 2 times on Wednesday and 6 to retest this "temporary peak" and this morning Gold continued to inch up to 1987.9 with the trend of higher peak.  the previous peak and the lower bottom are higher than the previous bottom, together with the negative news about GOLD as summarized above the view that I find it is difficult to have a deep correction in the first sessions of the week.

 - And today we wait for the low corrective prices of Gold to establish a buy status.  The support zone pushed the price up for the day in 1967-1963 and the resistance area pushed the price around the 1983 threshold.

Today's Gold Market Quick Analysis

📝 Commenting on July 31, 2020:

  ‼ ️

 - US GDP decreased by 32.9% compared to the previous quarter, expected to be 34.5%, this is the figure that CNBC commented that the Great Depression did not see such two-digit decline.

 - The number of applications for new unemployment benefits in the US continued to increase for the second week in a row, plus the number of deaths in Florida and Arizona set a record last night, causing the US to continue dropping points to create a falling rhythm.  Continued, the lowest in the last 2 years this has made the XXX / USD pairs to benefit from continued gains including precious metals.

 ‼ ️ About techniques and personal views:

 - Yesterday, the price of gold fluctuated from 1970 to 1939-1943.  Yesterday mentioned that gold will move sideways and in my personal view gold will continue to move sideways today before the US session.

 - The resistance zone pushed the price of gold down in 1967-1970 and helped push the price around 1945 and further to around 1933.

 - Tonight outside of the weekend will be the last trading session of the month so it is not ruled out that there will be strong profit taking sessions to close the month candles so we should be careful with buy orders at the price in the middle of the 2  the above resistance and support areas.

Daily Gold Market News & Analysis

📝 Commenting on Gold July 13, 2020:

‼ ️ About news:

- Speaking to Fox Business Network Mr. Trump said: "I fully support the mask". Mr. Trump added that he "likes" his appearance when wearing a mask, which looks like the Lone Ranger. This has been unprecedented since the outbreak of the disease and at least Trump has changed and will positively impact his previous supporters.

- In addition, from my subjective point of view, we are entering the days of being considered the peak of an epidemic. And if further vaccine progression will bring positive signs in disease control.

- This week there will be US economic data will also be published such as CPI, industrial output, retail sales, unemployment benefits ... if this index continues to show In the extreme, DXY will be supported and GOLD will have corrections this week.

‼ ️ About techniques and personal views:

- I still keep my opinion as Friday morning analyzed as last week, Today Gold can retest the 1803 -1806 price zone to reduce points again and the target is also the Gold support zone on 1788 - 1781. .

Specific strategies have been updated.

(Show the gold price when analyzing at 1803.5)

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Todays GOLD Market News & Analysis

📝 Comments about GOLD on July 8, 2020:

‼ ️ About news:

 - New cases continue to rise, leading the United States to 

surpass 3 million people and reach 12 million globally, putting enormous pressure on hospitals, accompanied by the closure.  Interim State Headquarters in Sacramento to conduct disinfection process.  Besides, the rise of cases will put pressure and hurt the economy more seriously and there will probably be more stimulus measures to support the economy to overcome difficulties.  This has caused the dollar to fall back, gold rose yesterday.

 ‼ ️ About techniques and personal views:

 - Yesterday, Gold continued to break down the zone of 1787,1789 to move up to 1797 as analyzed yesterday.  This is also a sign that the Gold price will continue to increase to the higher area of ​​1820 as shown.  Today the mainstream will be the buy watch for Gold when Gold makes a correction this Asian session,

 - In this Asian session, we can sell short-term down to GOLD from the current price of 1794 until 1785. When gold reaches this price range, we will wait to establish a buy status for Gold.  The ideal regional expectation to establish a buy position is 1779-1783.

 - The daily support zone of the gold is 1779-1783.  The target for today is 1804 and beyond is 1820.

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