📕 Comment on Gold on April 7, 2022:

  📕 Comment on Gold on April 7, 2022:

 - In yesterday's trading session, precious metal Gold fell from 1933 to 1915. Yesterday's closing session was around 1924. With Gold not having too many fluctuations in yesterday's session, our opinion  My personal preference remains the same as in recent days it is preferable to sell if Gold is in the 1930-1940 zone.

 - On the D1 chart we can see that although yesterday closed with a bullish candle, in fact this candle did not show an increase, but instead, the increasing force seems to be weaker compared to the previous days.  The proof is that last night the highest price Gold recovered was around the threshold of 1932. So in today's session, I think it is possible to sell down with Gold around 1926-1930 with a safe target of 1915-1920.  and my expectation Gold will go even deeper.

 

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 By contrast, speculative financial investors have withdrawn further from gold, according to the CFTC’s statistics: they slashed their net long positions by 9% to a six-week low in the week to 22 March.”
Want to talk with our CFA, CMT certified Analyst?
JOIN US NOW: MONEY LIFE RESEARCH

Comment on Gold on December 1, 2021:

 After a strong rally to 1877 at the beginning of the month, at the end of November, the precious metal Gold retreated quite strongly, closing the monthly candle with a long-haired bearish candle, almost covering up all previous upward pressure.  With this closing, in my opinion, Gold has returned to its cumulative price range and has not yet had a clear new trend.

 - On the daily chart time frame we can see in the last trading hours of November Gold has dropped to 1769, this is a strong support area for the precious metal Gold and I expect early in the session.  trading today Gold may recover after the strong drop last night.  The safe target to take profit is around 1785-1790, here we wait for the next signal.

 - As I have mentioned many times before, only when Gold closes above 1800-1805 will there be a possibility of regaining momentum and below that is the 1760-1765 support area, if Gold breaks further.  If we continue to continue this support price zone, we will be able to continue falling and then we will update the price channel again.

Gold signals: https://forms.gle/hpwZr5c85T55kPNG7