Fundamental Analysis
Gold prices rose on an overnight rebound from the psychological $2,500 mark and gained some positive momentum on Thursday. Growing acceptance that the Federal Reserve (Fed) will begin its policy easing cycle and lower borrowing costs next week turned out to be a major factor acting as a boost for the non-yielding yellow metal. That said, bearish bets on a larger Fed rate cut at the end of the September 17-18 policy meeting have pushed the US Dollar (USD) closer to its monthly peak and should limit gains for the commodity.
In addition, a generally positive tone around the equity markets is likely to undermine traditional safe-haven assets and deter traders from placing aggressive bullish bets around Gold prices. Furthermore, the recent range-bound price action and repeated failures to find acceptance above the $2,530-2,532 zone or the all-time high reached in August, make it prudent to wait for strong follow-through buying before positioning for further gains. Traders are now looking forward to the US Producer Price Index (PPI) for fresh impetus.
Technical Analysis
Gold prices pushed up to 2521 in the late Asian session and as the European session began, prices are being pushed back down. The area of interest is the 2512 zone as prices failed to break through until mid-European session, then BUYing back up to 2528 before the US. Breaking 2528 holds until the 2555.xx peak. In the opposite direction when the 2512 zone is broken, wait for retest to sell to 2500 and 2595. In case gold does not push to 12 but flies away, sell again in the 2528-2530 zone.
SELL 2543 - 2545 Stoploss 2549
BUY 2503 - 2501. Stoploss 2498
BUY 2496 - 2494. Stoploss 249
Gold prices rose on an overnight rebound from the psychological $2,500 mark and gained some positive momentum on Thursday. Growing acceptance that the Federal Reserve (Fed) will begin its policy easing cycle and lower borrowing costs next week turned out to be a major factor acting as a boost for the non-yielding yellow metal. That said, bearish bets on a larger Fed rate cut at the end of the September 17-18 policy meeting have pushed the US Dollar (USD) closer to its monthly peak and should limit gains for the commodity.
In addition, a generally positive tone around the equity markets is likely to undermine traditional safe-haven assets and deter traders from placing aggressive bullish bets around Gold prices. Furthermore, the recent range-bound price action and repeated failures to find acceptance above the $2,530-2,532 zone or the all-time high reached in August, make it prudent to wait for strong follow-through buying before positioning for further gains. Traders are now looking forward to the US Producer Price Index (PPI) for fresh impetus.
Technical Analysis
Gold prices pushed up to 2521 in the late Asian session and as the European session began, prices are being pushed back down. The area of interest is the 2512 zone as prices failed to break through until mid-European session, then BUYing back up to 2528 before the US. Breaking 2528 holds until the 2555.xx peak. In the opposite direction when the 2512 zone is broken, wait for retest to sell to 2500 and 2595. In case gold does not push to 12 but flies away, sell again in the 2528-2530 zone.
SELL 2543 - 2545 Stoploss 2549
BUY 2503 - 2501. Stoploss 2498
BUY 2496 - 2494. Stoploss 249
Note
Gold made a new ATH around 2535. Congratulations to everyone who followed the strategy.Note
BUY zone 2512 full TPNote
Sell 255x + 50 pips 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.