GOLD MARKET ANALYSIS AND COMMENTARY - [12 August - 16 August]
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This week, 
XAUUSD continued to fall sharply on Monday due to the Nikkei index falling 12%, leading to a sharp decline in global stock markets, forcing investors to sell gold to supplement their deposits. stock investment. At one point, the international gold price dropped to 2,364 USD/oz. However, immediately after that, gold prices continuously recovered because investors expected the FED to cut interest rates by up to 50 basis points in September. Accordingly, gold price climbed to 2,436 USD/oz and closed at 2,430 USD/oz. This may be a stepping stone for gold price increases next week.
In the coming week, there are quite a few important economic data that can strongly impact gold prices, such as the US Producer Price Index (PPI) released on Tuesday, followed by the Consumer Price Index (CPI). ) announced on Wednesday, followed by retail sales, a preliminary survey of consumer sentiment by the University of Michigan for August... In which, PPI, CPI are forecast to continue to decrease slightly, creating favorable Conditions for the FED to cut interest rates next September may support gold prices next week.
In addition, many FED officials, such as Mr. Bostic, Musalem, Harker, and Goolsbee, will give speeches on monetary policy. However, according to many experts, most of these officials support the FED in cutting interest rates. This is also considered one of the driving forces for gold prices next week.
Technically, from a long-term perspective, gold prices still show an upward trend across time frames when prices are still above the moving average lines (EMA34, 89). However, a divergence signal has appeared on the D1 frame, while on the Weekly frame, the price of gold is quite far away from the EMA lines (the price can adjust to or move sideways with a wide range waiting to intersect with the average lines). The above 2 signals recommend that we should not join the buying side at this time. If we are buying, we should wait for price corrections.
Notable technical levels are listed below.
Support: 2.408 – 2.400USD
Resistance: 2.437 – 2.453 – 2.484USD
SELL XAUUSD PRICE 2501 - 2499⚡️
↠↠ Stoploss 2505
BUY XAUUSD PRICE 2374 - 2376⚡️
↠↠ Stoploss 2370
XAUUSD continued to fall sharply on Monday due to the Nikkei index falling 12%, leading to a sharp decline in global stock markets, forcing investors to sell gold to supplement their deposits. stock investment. At one point, the international gold price dropped to 2,364 USD/oz. However, immediately after that, gold prices continuously recovered because investors expected the FED to cut interest rates by up to 50 basis points in September. Accordingly, gold price climbed to 2,436 USD/oz and closed at 2,430 USD/oz. This may be a stepping stone for gold price increases next week.In the coming week, there are quite a few important economic data that can strongly impact gold prices, such as the US Producer Price Index (PPI) released on Tuesday, followed by the Consumer Price Index (CPI). ) announced on Wednesday, followed by retail sales, a preliminary survey of consumer sentiment by the University of Michigan for August... In which, PPI, CPI are forecast to continue to decrease slightly, creating favorable Conditions for the FED to cut interest rates next September may support gold prices next week.
In addition, many FED officials, such as Mr. Bostic, Musalem, Harker, and Goolsbee, will give speeches on monetary policy. However, according to many experts, most of these officials support the FED in cutting interest rates. This is also considered one of the driving forces for gold prices next week.
Technically, from a long-term perspective, gold prices still show an upward trend across time frames when prices are still above the moving average lines (EMA34, 89). However, a divergence signal has appeared on the D1 frame, while on the Weekly frame, the price of gold is quite far away from the EMA lines (the price can adjust to or move sideways with a wide range waiting to intersect with the average lines). The above 2 signals recommend that we should not join the buying side at this time. If we are buying, we should wait for price corrections.
Notable technical levels are listed below.
Support: 2.408 – 2.400USD
Resistance: 2.437 – 2.453 – 2.484USD
SELL XAUUSD PRICE 2501 - 2499⚡️
↠↠ Stoploss 2505
BUY XAUUSD PRICE 2374 - 2376⚡️
↠↠ Stoploss 2370
Nota
Nota
GOLD STEADY AS US INFLATION DATA AWAITED
Gold prices rose on Monday as investors await US inflation data due on Wednesday to determine the size of a potential rate cut by the Federal Reserve in September.
Nota
XAU/USD struggled to maintain the upward momentum of the past two days and fluctuated in a narrow range during the Asian session on Monday. The overall positive sentiment in the equity market is seen as the main factor hindering the safe-haven precious metal. The risk of escalating geopolitical tensions in the Middle East could temper optimism in the market. Furthermore, it is expected that the US Federal Reserve (Fed) will take a loosening stance to keep the USD on the defensive and may support precious metals - non-yielding assets.Nota
🟢Gold rises over 1%
Gold prices rose by more than 1% on Monday to hit the highest since Aug. 2, driven by safe-haven inflows as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve's interest rate cut path.
Nota
⭕️Iranian source "Yesna": "Responding to Israel is not linked to the Gaza agreement".Nota
The headline CPI slowed on an annual basis from July to an increase of just 2.9%, below expectations of 3%, and below the previous reading of 3%.
Nota
Investors strongly sold precious metals after the July consumer price index (CPI) report from the US Department of Commerce. What investors are interested in right now is at what level the Fed will start reducing interest rates, 0.25 percentage points or 0.5 percentage points...Nota
A FED MEMBER MAKES IMPORTANT COMMENTS ON INTEREST RATES
St. Louis Federal Reserve President Alberto Musallem said the time is near for the U.S. central bank to cut interest rates.
Nota
Gold prices pared gains on Thursday (August 15), as the dollar and bond yields rose after stronger-than-expected U.S. economic data could affect the scope of interest rate cuts from the Federal Reserve.Nota
🔻The dollar held near a two-week high against the yen on Friday after posting its biggest daily gain against major currencies in four weeks, as strong U.S. economic data eased fears the economy was entering a recession.Dagangan ditutup: sasaran tercapai
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