GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Critical Resistance: $2,711.09 is the next key resistance, with $2,726.95 as the extended target.
- Overbought Signals: RSI at 81 suggests potential short-term consolidation or correction.
- Dynamic Support: The 50-day EMA at $2,639.13 underpins the broader bullish trend.
Gold prices are trading at $2,695.58, marking a 0.97% increase as bullish momentum strengthens. The metal is nearing immediate resistance at $2,711.09, with further levels at $2,726.95 in focus.
On the downside, immediate support lies at $2,673.90, followed by $2,645.52 and $2,635.05, providing a safety net for price corrections. The pivot point at $2,691.73 is crucial for maintaining upward momentum. A sustained move above this level would bolster bullish sentiment and validate further gains.
The RSI stands at 81, signaling overbought conditions that could trigger a short-term pullback. Despite this, the 50-day EMA at $2,639.13 continues to act as strong dynamic support, reinforcing the broader uptrend. Price action remains aligned with a bullish channel, and the upward trajectory is expected to persist as long as prices hold above the pivot.
Traders are advised to consider buying above $2,684 with a take-profit target at $2,710 and a stop-loss at $2,666. A breakout above $2,711.09 could push prices toward $2,726.95, but caution is warranted due to overbought signals from the RSI.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Above 2684
Take Profit – 2710
Stop Loss – 2666
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$2600/ -$1800
Profit & Loss Per Mini Lot = +$260/ -$180
GOLD Price Analysis – Nov 22, 2024
Daily Price Outlook
Gold (XAU/USD) continues to shine, finally hitting the $2,700 mark, thanks to escalating tensions between Russia and Ukraine. Investors see gold as a safe bet, especially during uncertain times like these, and they’re confident it could climb even higher.
Many believe President-elect Donald Trump’s policies might push inflation up, which could weaken the dollar and make gold more appealing.
Interestingly, even though the US dollar has hit its strongest level since October 2023, gold prices are still on the rise. Higher inflation fears and the possibility that the Federal Reserve might hold back on cutting interest rates are fueling this rally.
US Dollar Strengthens Amid Rate Cut Uncertainty, But Gold Continues to Rise as a Safe Haven Amid Inflation Concerns
On the US side, the dollar has been on the rise, hitting its highest point since October 2023. This surge comes as investors are starting to think the Federal Reserve might not cut interest rates as quickly as they originally expected. A big reason for this is the worry that US President-elect Donald Trump's policies could push inflation higher, which might make the Fed hesitate on rate cuts.
Recently, some top Federal Reserve officials, including Chairman Jerome Powell, have raised concerns about the risks of inflation and warned against easing policies any further. As a result, traders are now betting on a 55% chance that the Fed will cut interest rates by 0.25% in December, according to the CME Group’s FedWatch Tool.
However, Chicago Fed President Austan Goolsbee recently pointed out that inflation is moving closer to the Fed’s 2% target and suggested it might be a good idea to slow down the rate cuts. Similarly, New York Fed President John Williams mentioned that the labor market is in a good place and isn't contributing to rising inflation.
On the economic front, US weekly jobless claims fell by 6,000 last week, dropping to 213,000, which is the lowest number in seven months. Existing home sales also bounced back in October, marking their first annual increase since mid-2021.
However, the Philly Fed Manufacturing Index revealed an unexpected decline in manufacturing activity in the Philadelphia area this November. Investors will be closely watching Friday’s flash PMIs for more clues about the global economy, as they could have an impact on gold prices.
Despite the rising US dollar and expectations of slower rate cuts, gold continues to rise strongly. This is driven by ongoing inflation concerns and the demand for gold as a safe haven, with investors seeking protection from economic uncertainties.
Escalating Russia-Ukraine Tensions Boost Gold Prices as Investors Seek Safe Haven Amid Market Uncertainty
On the other hand, the escalating tensions between Russia and Ukraine are driving more investors to gold as a safe haven. As a result, gold prices climbed for the fifth straight day on Friday, even with the US dollar remaining strong. Recently, Russian forces launched a new intermediate-range missile at Ukraine, retaliating against Ukraine’s use of US and UK-made missiles to target sites in Russia.
The ongoing conflicts are adding more uncertainty to the market, making gold a more appealing choice for those wanting to shield their investments from risk.
GOLD (XAU/USD) – Technical Analysis
Gold prices are trading at $2,695.58, marking a 0.97% increase as bullish momentum strengthens. The metal is nearing immediate resistance at $2,711.09, with further levels at $2,726.95 in focus.
On the downside, immediate support lies at $2,673.90, followed by $2,645.52 and $2,635.05, providing a safety net for price corrections. The pivot point at $2,691.73 is crucial for maintaining upward momentum. A sustained move above this level would bolster bullish sentiment and validate further gains.
The RSI stands at 81, signaling overbought conditions that could trigger a short-term pullback. Despite this, the 50-day EMA at $2,639.13 continues to act as strong dynamic support, reinforcing the broader uptrend. Price action remains aligned with a bullish channel, and the upward trajectory is expected to persist as long as prices hold above the pivot.
Traders are advised to consider buying above $2,684 with a take-profit target at $2,710 and a stop-loss at $2,666. A breakout above $2,711.09 could push prices toward $2,726.95, but caution is warranted due to overbought signals from the RSI.
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GOLD Price Analysis – Nov 21, 2024
Daily Price Outlook
Gold (XAU/USD) has maintained its bullish trend for the fourth day and remained well-bid around the 2,662 level, However, the ongoing tensions in the Russia-Ukraine conflict have been a major driver behind this bullish trend, as investors seek the safety of gold amid growing geopolitical risks.
On top of that, a weaker US Dollar has also helped push gold prices higher. This combination of factors has supported gold’s steady rise throughout the week.
Investors are worried that President-elect Donald Trump's proposed tariffs could drive up inflation, making it harder for the Federal Reserve to lower interest rates.
There are also concerns that his tax cuts, funded by debt, could lead to larger budget deficits, keeping US Treasury bond yields high. This could boost the US Dollar and make traders less likely to bet heavily on gold, which doesn’t pay interest.
US Dollar Strength and Rising Bond Yields Weigh on Gold Prices
On the US front, the broad-based US Dollar managed to stay strong, supported by worries that President-elect Donald Trump’s policies could boost inflation and limit the Federal Reserve’s ability to cut interest rates.
Recently, several key Fed officials, including Lisa Cook and Michelle Bowman, warned that the central bank may have to slow or pause its rate cuts if inflation progress stalls.
This caution from the Fed has kept US Treasury bond yields high, helping to keep the Dollar near its year-to-date high. As a result, the possibility of further rate cuts seems uncertain, which is adding to the strength of the Greenback.
In addition, the yield on the 10-year US government bond rose sharply this week, which, combined with a positive market sentiment, is putting pressure on gold prices.
Investors will be closely watching upcoming US economic data, including jobless claims and home sales, as well as speeches from Fed officials for clues about the future of rate cuts.
These factors will likely influence the Dollar and impact gold’s performance, as gold, being a non-yielding asset, tends to struggle when bond yields and the Dollar rise.
Gold (XAU/USD) is trading at $2,660.89, up 0.39% for the day, supported by strong bullish sentiment on the 4-hour chart. Prices remain comfortably above the pivot point at $2,646, suggesting sustained momentum.
Immediate resistance lies at $2,675.25, followed by $2,691.73 and $2,711.09, as gold continues to push toward higher levels amid global uncertainty and robust safe-haven demand.
On the downside, immediate support is at $2,619.22, with additional levels at $2,592.86 and $2,571.02 providing safety nets for potential retracements. The RSI is currently at 73, indicating overbought conditions, though the strong trend suggests this may persist in the short term.
The 50-day EMA at $2,613.76 offers solid support, reinforcing the bullish case. Traders are advised to monitor the $2,646 pivot closely, as a break below this level could reverse the trend and open the door to sharper declines toward $2,619 or lower.
A potential entry point is identified at $2,646, with a suggested stop loss at $2,630 to manage downside risks. Profit targets are set at $2,674 and above, as technical indicators align with bullish market conditions.
Overall, gold’s technical landscape remains favorable above $2,646, bolstered by geopolitical risks and investor appetite for safe-haven assets. Traders should watch resistance at $2,691.73 for confirmation of further upside momentum.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Resistance Levels: Immediate at $2,675.25; next targets at $2,691.73 and $2,711.09.
- Support Levels: Key support at $2,619.22; additional levels at $2,592.86 and $2,571.02.
- Technical Indicators: RSI at 73 signals overbought conditions, but bullish EMA crossover supports upward trend.
Gold (XAU/USD) is trading at $2,660.89, up 0.39% for the day, supported by strong bullish sentiment on the 4-hour chart. Prices remain comfortably above the pivot point at $2,646, suggesting sustained momentum.
Immediate resistance lies at $2,675.25, followed by $2,691.73 and $2,711.09, as gold continues to push toward higher levels amid global uncertainty and robust safe-haven demand.
On the downside, immediate support is at $2,619.22, with additional levels at $2,592.86 and $2,571.02 providing safety nets for potential retracements. The RSI is currently at 73, indicating overbought conditions, though the strong trend suggests this may persist in the short term.
The 50-day EMA at $2,613.76 offers solid support, reinforcing the bullish case. Traders are advised to monitor the $2,646 pivot closely, as a break below this level could reverse the trend and open the door to sharper declines toward $2,619 or lower.
A potential entry point is identified at $2,646, with a suggested stop loss at $2,630 to manage downside risks. Profit targets are set at $2,674 and above, as technical indicators align with bullish market conditions.
Overall, gold’s technical landscape remains favorable above $2,646, bolstered by geopolitical risks and investor appetite for safe-haven assets. Traders should watch resistance at $2,691.73 for confirmation of further upside momentum.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Above 2646
Take Profit – 2674
Stop Loss – 2630
Risk to Reward – 1: 1.7
Profit & Loss Per Standard Lot = +$2800/ -$1600
Profit & Loss Per Mini Lot = +$280/ -$160
GOLD Price Analysis – Nov 20, 2024
Daily Price Outlook
Gold prices (XAU/USD) continue to struggle, staying weak around the $2,624 mark on Wednesday. Despite this sluggish trend, the ongoing Russia-Ukraine tensions still support gold as a safe-haven asset.
However, easing concerns about a potential nuclear war and the strong performance of the US dollar are keeping gold's gains in check.
Investors are growing more optimistic that US President-elect Donald Trump's policies will drive economic growth and inflation, making it less likely for the Federal Reserve to cut interest rates.
This has led to higher US Treasury bond yields, boosting the US dollar and putting pressure on gold. As a result, traders are staying cautious, waiting for upcoming speeches from Federal Reserve officials to get a clearer picture of future monetary policy.
Stronger US Dollar and Rising Treasury Yields Weigh on Gold's Outlook
On the US front, the dollar has been gaining strength, fueled by market expectations of potential tariffs and tax cuts under the incoming Trump administration. These measures are expected to drive up inflation, making it less likely for the Federal Reserve to cut interest rates in the future. As a result, the stronger dollar has added pressure on gold, contributing to its recent losses.
According to the CME Group's FedWatch Tool, traders now see less than a 60% chance of a 25-basis-point rate cut in December. At the same time, US Treasury yields are climbing, keeping the dollar strong and limiting gold's (XAU/USD) potential for gains.
Investors are also keeping a close eye on speeches from key FOMC members today, hoping for insights into the Fed's rate plans, which could influence gold’s next move.
Therefore, the stronger US dollar and rising Treasury yields are pressuring gold prices, limiting its upside potential. Reduced rate cut expectations and investor focus on FOMC speeches further weigh on gold, as monetary policy clarity could impact its safe-haven appeal.
Geopolitical Tensions and the Russia-Ukraine Conflict Drive Increased Demand for Gold
On the other hand, rising geopolitical tensions, particularly the worsening Russia-Ukraine conflict, are increasing gold's appeal as a safe-haven investment. Investors are concerned about the situation escalating, leading more money into gold. Recently, Russian President Vladimir Putin updated the country's nuclear policy, outlining when Russia might consider using nuclear weapons.
In response, Ukraine, with US support, launched ATACMS missiles at a Russian military site near Bryansk. Despite the escalating tensions, Russian Foreign Minister Sergei Lavrov reassured that Russia is focused on avoiding nuclear war, while the White House confirmed no changes to its own nuclear stance.
Therefore, the escalating Russia-Ukraine conflict and rising geopolitical tensions are boosting gold's appeal as a safe-haven investment. Investors, concerned about further escalation, are increasingly turning to gold, driving demand and supporting its value amid uncertainty.
GOLD (XAU/USD) – Technical Analysis
Gold prices (XAU/USD) are trading at $2,629.60, down 0.09% as bearish momentum emerges below the pivot point at $2,640.77. Immediate resistance is positioned at $2,663.57, with higher barriers at $2,684.85 and $2,707.65, forming a challenging upward path.
The 50-day EMA at $2,593.63 aligns with the immediate support level of $2,612.40, providing key downside protection. Additional support levels include $2,590.11 and $2,561.23.
The Relative Strength Index (RSI) at 59 suggests neutral momentum, leaving room for further selling pressure if prices fail to reclaim $2,640.77. A break below $2,612.40 would likely intensify the downward trajectory, targeting $2,590.11.
Conversely, a sustained push above $2,663.57 could signal renewed bullish interest, but near-term sentiment leans bearish.
Traders are advised to consider selling below $2,641, targeting $2,598 with a stop loss at $2,664. With the strong US dollar and rising Treasury yields weighing on gold, the path of least resistance appears downward.
Gold is bearish below $2,641, with selling opportunities targeting $2,598. A break below $2,612.40 could accelerate losses, while resistance at $2,663.57 holds the key to any bullish recovery.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Resistance Levels: Key resistances are at $2,663.57, $2,684.85, and $2,707.65, requiring a breakout to reverse bearish sentiment.
- Support Levels: Immediate support lies at $2,612.40, with deeper levels at $2,590.11 and $2,561.23.
- Technical Indicators: RSI at 59 indicates neutral momentum; 50-day EMA at $2,593.63 reinforces bearish pressure below the pivot.
Gold prices (XAU/USD) are trading at $2,629.60, down 0.09% as bearish momentum emerges below the pivot point at $2,640.77. Immediate resistance is positioned at $2,663.57, with higher barriers at $2,684.85 and $2,707.65, forming a challenging upward path.
The 50-day EMA at $2,593.63 aligns with the immediate support level of $2,612.40, providing key downside protection. Additional support levels include $2,590.11 and $2,561.23.
The Relative Strength Index (RSI) at 59 suggests neutral momentum, leaving room for further selling pressure if prices fail to reclaim $2,640.77. A break below $2,612.40 would likely intensify the downward trajectory, targeting $2,590.11.
Conversely, a sustained push above $2,663.57 could signal renewed bullish interest, but near-term sentiment leans bearish.
Traders are advised to consider selling below $2,641, targeting $2,598 with a stop loss at $2,664. With the strong US dollar and rising Treasury yields weighing on gold, the path of least resistance appears downward.
Gold is bearish below $2,641, with selling opportunities targeting $2,598. A break below $2,612.40 could accelerate losses, while resistance at $2,663.57 holds the key to any bullish recovery.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Below 2641
Take Profit – 2598
Stop Loss – 2664
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$4300/ -$2300
Profit & Loss Per Mini Lot = +$430/ -$230
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Pivot Level: Gold remains below $2,627.63, critical for near-term direction.
- Resistance Zones: Breakout above $2,627.63 could target $2,654.35 and $2,678.91.
- Support Levels: Immediate support is at $2,591.93, with the 50-day EMA reinforcing bullish bias.
Gold (XAU/USD) is trading at $2,620.82, up 0.34%, supported by strong bullish sentiment on the 4-hour chart. The metal remains below the pivot point at $2,627.63, which serves as a key decision level.
A break above this pivot could drive prices toward immediate resistance at $2,654.35, with further targets at $2,678.91 and $2,707.57, indicating the potential for a sustained rally.
On the downside, immediate support lies at $2,591.93, with additional levels at $2,561.74 and $2,537.16 offering key protection zones for bulls. The 50-day EMA at $2,583.72 reinforces upward momentum, aligning with the broader bullish trend.
However, the RSI at 67 signals the approach of overbought territory, which could trigger a pullback if resistance near the pivot holds.
For traders, maintaining a cautious approach is advisable. A failure to clear $2,627.63 may prompt selling pressure, with prices likely testing $2,591.93 in the short term.
Conversely, a confirmed breakout above $2,627.63 could pave the way for a challenge of the $2,654.35 level. Setting tight stop losses and monitoring volume near key levels will be critical to managing risk effectively.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Limit 2627
Take Profit – 2592
Stop Loss – 2653
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$3500/ -$2600
Profit & Loss Per Mini Lot = +$350/ -$260
GOLD Price Analysis – Nov 19, 2024
Daily Price Outlook
Gold prices rose for a second consecutive session on Tuesday, reaching a one-week high as the U.S. dollar retreated from its recent rally. The dollar's pullback, driven by profit-taking after reaching a one-year high last week, made gold more affordable for international buyers.
Ole Hansen, head of commodity strategy at Saxo Bank, noted, "The selling has run out of steam, and that's attracting cautious buyers waiting for stability to re-enter the market."
Gold, often seen as a hedge in times of currency weakness, benefited from this shift as traders speculated on potential interest rate cuts.
Fed Rate Policy and Key Data in Focus
Market participants are closely monitoring Federal Reserve officials' comments this week for clues on monetary policy. Currently, traders see a 58.9% probability of a 25-basis-point rate cut in December, compared to a 41.1% chance of rates staying steady. Interest rate reductions generally favor gold, which thrives in low-rate environments due to its non-yielding nature.
U.S. economic releases, including Building Permits (forecast at 1.44M, previous 1.43M) and Housing Starts (forecast at 1.34M, previous 1.35M), may also influence investor sentiment as they shed light on economic resilience.
Geopolitical Tensions Add to Bullish Case
Rising geopolitical risks further supported gold. Russia's largest airstrike on Ukraine in nearly three months heightened safe-haven demand for the metal. Historically, gold performs well during periods of geopolitical uncertainty, offering a haven for investors seeking stability.
Meanwhile, palladium struggled with a bearish outlook. UBS analysts pointed out, "Palladium is projected to be oversupplied due to declining demand from the autocatalyst sector," further shifting investor focus toward gold.
GOLD (XAU/USD) – Technical Analysis
Gold (XAU/USD) is trading at $2,620.82, up 0.34%, supported by strong bullish sentiment on the 4-hour chart. The metal remains below the pivot point at $2,627.63, which serves as a key decision level.
A break above this pivot could drive prices toward immediate resistance at $2,654.35, with further targets at $2,678.91 and $2,707.57, indicating the potential for a sustained rally.
On the downside, immediate support lies at $2,591.93, with additional levels at $2,561.74 and $2,537.16 offering key protection zones for bulls. The 50-day EMA at $2,583.72 reinforces upward momentum, aligning with the broader bullish trend.
However, the RSI at 67 signals the approach of overbought territory, which could trigger a pullback if resistance near the pivot holds.
For traders, maintaining a cautious approach is advisable. A failure to clear $2,627.63 may prompt selling pressure, with prices likely testing $2,591.93 in the short term.
Conversely, a confirmed breakout above $2,627.63 could pave the way for a challenge of the $2,654.35 level. Setting tight stop losses and monitoring volume near key levels will be critical to managing risk effectively.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Pivot Point at $2,597.39: A critical level for determining short-term price momentum.
- 50 EMA at $2,581.13: Offers strong support but sits just below current prices.
- Resistance at $2,618.54: Breakout above this level could trigger bullish acceleration.
Gold (XAU/USD) is trading at $2,583.78, up 0.80% on the day, as it hovers just above key support levels. The metal's immediate pivot point sits at $2,597.39, a critical level that traders will watch closely as it determines near-term direction.
A break above this pivot could signal a move toward immediate resistance at $2,618.54, with additional bullish targets at $2,644.07. On the downside, immediate support lies at $2,580.92, while further declines could expose gold to $2,537.16 and $2,516.86.
The 50-day Exponential Moving Average (EMA) at $2,581.13 offers a strong short-term support zone, aligning closely with current price action. Gold’s Relative Strength Index (RSI) is at 54, indicating a neutral stance with neither overbought nor oversold conditions. This balanced momentum highlights the potential for volatility, as any breach of key levels could trigger significant price movement.
On the 4-hour chart, the price action is consolidating between the pivot point and $2,580.92, forming a narrow trading range. The broader trend remains cautious, as gold’s upside potential faces resistance from higher Treasury yields and a firm U.S. dollar.
However, if gold successfully breaks above $2,597.39, bullish momentum may accelerate, potentially reaching $2,618.54.
Traders considering a buy-limit order at $2,580 could aim for a take-profit target of $2,616, with a stop-loss set at $2,550 to manage risk. Gold's trajectory remains tethered to macroeconomic factors, with U.S. economic data and Federal Reserve signals likely to provide further clarity on price direction.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Limit 2580
Take Profit – 2616
Stop Loss – 2550
Risk to Reward – 1: 1.2
Profit & Loss Per Standard Lot = +$3600/ -$3000
Profit & Loss Per Mini Lot = +$360/ -$300
GOLD Price Analysis – Nov 18, 2024
Daily Price Outlook
Gold prices gained on Monday, recovering from six consecutive sessions of losses, as the U.S. dollar held steady after last week’s sharp rally. The dollar index, which surged 1.6% last week to touch a one-year high, remained flat on Monday, providing some relief for bullion.
Dollar Softens, Supporting Gold Demand
A softer dollar typically bolsters gold by making it less expensive for foreign buyers holding other currencies. "The recent correction in gold prices is closely tied to dollar strength," noted Ross Norman, an independent market analyst. "While we may not have found a solid physical floor yet, opportunistic buying has started to support the market."
The dollar’s performance remains a key variable as investors await further signals from the Federal Reserve. This week, at least seven Fed officials are scheduled to speak, potentially offering more clarity on the central bank's interest rate trajectory.
Fed Signals and Interest Rate Impact
Recent U.S. economic data, including stronger-than-expected retail sales and sticky inflation, have tempered expectations for a December rate cut. Elevated interest rates diminish gold’s appeal, as the metal offers no yield.
"As we approach year-end, we can expect volatility in gold prices driven by profit-taking and portfolio adjustments, regardless of the Fed's actions," Norman added.
Michael Langford, chief investment officer at Scorpion Minerals, noted that near-term risks for gold are tied to further dollar strength. "While the strengthening USD is negative for gold in the short term, the long-term impact of inflationary policies will eventually support higher prices," Langford explained.
GOLD (XAU/USD) – Technical Analysis
Gold (XAU/USD) is trading at $2,583.78, up 0.80% on the day, as it hovers just above key support levels. The metal's immediate pivot point sits at $2,597.39, a critical level that traders will watch closely as it determines near-term direction.
A break above this pivot could signal a move toward immediate resistance at $2,618.54, with additional bullish targets at $2,644.07. On the downside, immediate support lies at $2,580.92, while further declines could expose gold to $2,537.16 and $2,516.86.
The 50-day Exponential Moving Average (EMA) at $2,581.13 offers a strong short-term support zone, aligning closely with current price action. Gold’s Relative Strength Index (RSI) is at 54, indicating a neutral stance with neither overbought nor oversold conditions. This balanced momentum highlights the potential for volatility, as any breach of key levels could trigger significant price movement.
On the 4-hour chart, the price action is consolidating between the pivot point and $2,580.92, forming a narrow trading range. The broader trend remains cautious, as gold’s upside potential faces resistance from higher Treasury yields and a firm U.S. dollar.
However, if gold successfully breaks above $2,597.39, bullish momentum may accelerate, potentially reaching $2,618.54.
Traders considering a buy-limit order at $2,580 could aim for a take-profit target of $2,616, with a stop-loss set at $2,550 to manage risk. Gold's trajectory remains tethered to macroeconomic factors, with U.S. economic data and Federal Reserve signals likely to provide further clarity on price direction.
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