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Latest Gold Price Update – Will the Downtrend Continue?Hello everyone, what do you think about OANDA:XAUUSD ? Will it go up or down? As per our strategy from yesterday , gold has dropped sharply, currently trading around 3,315 USD, and down more than 300 pips from the previous session. Gold continues to trade within a narrow range as traders await the next catalyst to drive price action, with the upcoming speech by Fed Chairman Jerome Powell being seen as a potential factor. Additionally, the recent recovery of the TVC:DXY index has also put some pressure on the strength of this precious metal. From a technical perspective, gold has lost the 3,330 USD support level and remains capped below the descending trendline. The price is moving downward following the Dow Theory wave pattern. If favorable, the first profit-taking target (at the 1.618 level) at the round 3,300 USD mark may be pushed lower by the bears. What do you think? How will gold move? Keep a close eye on the market to spot opportunities, and remember that trading with the trend is always a good strategy. Good luck!
OANDA:XAUUSDShort
by Kevinn_Nguyen
21
XAUUAD UPDATE 16- 6 +2025The chart you provided is a 45-minute time frame analysis for Gold CFDs (US$/OZ). Here's a breakdown of the key elements and what they suggest: --- Current Price $3,414.93, down -18.42 (-0.54%) --- Analysis Summary Price Action The price has recently rejected from a resistance zone (around $3,445–$3,450). It is currently pulling back, heading downward from this resistance. Support Zones Highlighted Multiple horizontal yellow zones mark previous support/resistance levels. The key immediate support level lies near $3,400–$3,405. A deeper support area is visible around $3,360–$3,365, and further below near $3,320. --- Forecast Indication (Based on Markings) A short-term pullback (blue arrow up) may retest the breakdown level (~$3,430). Then, a potential drop toward the next support at $3,360 is expected (blue arrow down). A bearish continuation scenario is emphasized with a red downward arrow, suggesting price may head further down to the $3,320 area if $3,360 fails to hold. --- Implications for Traders Bearish Bias: Suggested by the forecast arrows and recent resistance rejection. Potential Setup: Short on pullback near $3,430 (if price fails to reclaim this zone). Target: $3,360 and possibly $3,320. Stop-loss: Above $3,450 resistance. --- Would you like a trading plan or signal based on this analysis?
TVC:GOLDShort
by Mr_Zakrii
Gold 4 hour chart decide tomorrow go up or down Gold closed with a loss on Thursday, dropping for a third-straight session as the US dollar and bond yields are on the rise. Gold for December delivery closed down US$12.80 to settle at US$1,763.00 per ounce. The drop comes as the dollar continues to recover from a sell-off earlier this month after the US reported inflation rose less than expected in October, raising hopes the Federal Reserve could reconsider the pace of its interest-rate hikes, though an unexpectedly strong rise in retail sales last month reported on Wednesday showed the central bank may not have yet slowed the economy sufficiently to suppress demand. "The metal is currently dealing with mixed signals as elevated recession worries, highlighted by the most inverted yield curve in almost four decades, are being offset by the biggest increase in US retail sales in eight months, indicating Fed tightening has further to run to bring inflation under control," Saxo Bank noted. The ICE dollar index was last seen up 0.42 points to 106.69, making gold more expensive for international buyers. The yield on the US 10-year note was last seen up 8.9 basis points to 3.782%, bearish for gold since it offers no interest
FX:XAUUSD
by MER
gold 4 hour chart The dollar was supported by stronger-than-expected U.S. retail sales data on Wednesday as investors also looked for clues from Federal Reserve speakers on the path for interest rates. The euro EURUSD was last up 0.33% at $1.0388 but still below the four-and-a-half month peak of $1.0481 it touched Tuesday when U.S. producer price inflation data was below expectations. While it was well off its session high of the day, the euro more than erased Tuesday's losses against the yen EURJPY . It was last up 0.46% against the Japanese currency. Tuesday's U.S. data had suggested last week's cooler-than-expected consumer price inflation was not a one-off, fueling hopes that the U.S. Federal Reserve can slow aggressive rate hikes that had sent the dollar soaring against the pound, euro and yen this year. Meanwhile, two key policy doves argued on Wednesday that while the European Central Bank must continue to raise interest rates, there is a growing case for in policy tightening after a string of aggressive moves. "A lot of people are fixated on what we're going to see regarding what the Fed and the ECB will do," said Edward Moya senior market analyst at Oanda in New York. Also, Fed Governor Christopher Waller, an early and outspoken "hawk," said the Fed has a on rates and will still need increases into next year although he added that data made him "more comfortable" with the idea of slowing to a 50-basis point hike in December. "There's a lot of noise in the FX market. You could say Waller and Daley's comments today were somewhat hawkish," said Moya. "The retail sales figures showing there's more resilience in the economy could make the argument the Fed could be justified in maintaining its aggressive stance against inflation." After rising earlier, Sterling GBPUSD was last up 0.31% at $1.1906. Britain is set to announce a new budget on Thursday with expectations for tax hikes and spending cuts. The pound fell to a record low of $1.0327 in September after finance minister Jeremy Hunt's predecessor Kwasi Kwarteng announced a package of unfunded tax cuts. The dollar was up 0.07% against the Japanese yen USDJPY at 139.3950, compared with Tuesday's two-and-a-half-month low of 137.67. The dollar index DXY , which tracks the greenback against six main peers, was recently 0.06% lower at 106.342 after earlier hitting a low of 105.859.
FX:XAUUSD
by MER
$GOLD Safe Haven? or Pipe Dream?GOLD as valued as it is may not be the safe haven asset people would have you believe. While it has been a runner in the past due to economic downturn, There are rare market events that come around swiftly and without warning that drag all assets down. The wealth transfer/changing of the guard. One such even was the great depression. Considering the deepening economic crisis and the ongoing devaluation of the dollar, GOLD will likely collapse to lows it hasn't seen in many decades as America has one of the worst Deflationary periods in it's history. As people seek to possess gold and refuse to exchange it for worthless dollars, they will turn to physical commodities of all sorts for barter and trade such as coffee, weed, and other priceless goods.
TVC:GOLDShort
by Midgar-
Gold - 04 / Jan review. What happened today?Sadly for all of us Gold today never managed to break through 1800.80 support level or through the channel ever. So, no selling orders today… My fundamental analysis whisper to my ear that so aggressive drop in the price yesterday has been caused partially by Bank Holiday in the UK (London). Forex trades got affected badly as well ( almost all trades went to reversal direction ) Well, all trades start returning to the normal way today and in another day or two this all mess going to be cleared up.
FX:XAUUSD
by G-money2022
3
Gold sep ideaWith NFP numbers, gold found its breakout to upside with low job numbers and it literally exploded in few minutes before the numbers. But it reached to all-time resistance 1833 area and have significant resistance and need to have a clear breakout to confirm moving upside towards 1900. It might come back to the area of `1810 to take support with an extension to 1801 to find its support before moving up and can have a significant pullback. Anyways all in all final gold starts moving ..... DYOR and play safe
TVC:GOLDShort
by learntrading007