XAUUSD Chart – Gold Spot US Dollar Price — TradingView

Don’t give up!

I’m proud to say that I am finally consistent! And by consistent, I mean 6 months of good sleep with a steady growth of my account. This journey began back in March 2016 when my friend introduced me into forex. I’ve lost an average of 1k per year until the start of 2020.
For those feeling horrible because you been stopped out or in a sea of reds don’t be demoralised, think of it as you are paying your school fees. Forex can be a very expensive education...
Things that I have learnt since the start. (May vary person to person)
In my personal opinion! Demo is for new traders like me to learn the basics of forex and once i was familiar with the market, I went live with money that I was okay to lose. I only went back demo to test my strategy when I could trade without emotions. It was a ton of trial and error until this day 😆
If you are like me, a student... My greatest tip for you is to not trade during exams / project submissions...
Trade safe, trade well!
[Edit] I should probably give an idea why I would specifically point out the list of things.
submitted by TeePii97 to Forex [link] [comments]

XAU/USD forecast: Gold market will face a turmoil

XAU/USD forecast: Gold market will face a turmoil

Fundamental gold price forecast for today

Coronavirus vaccines will hold XAU/USD bulls back

Mass gold sell-offs in the mid-August discouraged the gold bulls. However, a quick rebound above $2000 per ounce allowed large banks to resume their recommendations to buy. According to Credit Suisse forecasts, gold prices will grow to $2500 in 2021. Standard Chartered Bank believes investors will use any price decline to open long positions amid the weak dollar, low bond rates, and substantial fiscal stimuli. There are enough bulls in the gold market, and this fact alone raises concerns in the extended rally of the XAU/USD. Can there be turmoil?
Many bullish factors have already been priced in the XAUUSD, and there are not so many growth drivers left. I mean the long-term dollar weakness and the Fed’s willingness to put up with the inflation above its 2% target for as long as it is necessary. The problem is whether consumer prices will grow. The inflation level, expected by the bond market, returned to the January level in five years; but it is still below the Fed’s target. Inflation-adjusted five-year options suggest a little chance that the indicator will be above 3%. It is more likely to slide below 1%. The story of 2009-2011 can repeat in the gold market. Then, the gold price, having reached its all-time high, crashed, as investors didn’t nay more believe that the fiscal stimulus could accelerate the PCE.
In my opinion, the bond market can give a clue on the future gold trends. Gold price correlates with the Treasury Inflation-Protected Securities (TIPS). The increase in the TIPS yields on August 11-12 triggered an XAU/USD correction.

Dynamics of gold and TIPS yields

Source: Wall Street Journal
The gold rally takes place ahead of auctions and amid talks about the Russian vaccine. The more is fiscal stimulus, the more money needs Treasury. The initial public offering makes investors sell securities in the secondary market, which pushes up the yields. Taking into account vast scales of the state funding, such a situation could repeat, which increases the risks of instability in the gold market.
Still, the most significant danger for the gold buyers could result from good news about the COVID-19 vaccine. The Treasury yields are quite responsive to the pandemic. Positive information about vaccines will support the economy, but, at the same time, it will weigh on gold. Purchasing managers think the glass is half-full, and the continuous rally of the US PMI must support the growth of the global bond market rates.

Dynamics of US PMI and Treasury yields

Source: Nordea Markets
Therefore, gold bulls still have two big advantages. They are the greenback weakness and the Fed’s willingness to put up with a high inflation rate. Nonetheless, unless the consumer price growth accelerates and the USD crashes, the XAU/USD will hardly continue to rally. On the contrary, an increase in the Treasury yields looks more likely, which suggests the relevance of the gold sales on the rise to $2050-2055 and $2130-2135.
For more information follow the link to the website of the LiteForex
submitted by Maxvelgus to Finance_analytics [link] [comments]

XAU/USD Reports today

XAU/USD Reports today
New to Forex Trading, I've been using a demo account for a couple of months. I'm trying to understand what these reports mean and how they can affect the price. Today there was 4 reports, if somebody can ELI5 on how these correlate with trading XAU/USD and where I can find more in depth research to help back my trades on this, it would be really appreciated!
Thank You!
submitted by SpareFox0 to Forex [link] [comments]

İsveç Frangı (CHF) + Japon Yeni (JPY) + Altın güvenli liman talebi ile yükselişte

Doların küresel piyasalarda değer kaybettiği güvenli liman varlıkların değer kazandığı işlem gününde altındaki atak da hızlandı. Ons altın bugün 1,768$ ile 18 Mayıs’taki zirveyi de aşarak 8 yılın en yükseğine çıktı. Onstaki yükselişin etkisiyle gram fiyatı da 389,600 TL’ye çıkarak 18 Mayıs sonrası zirveyi gördü.
Güvenli varlıkların değer kazandığı bugün frank ve yen de dolar karşısında yükselişte. Dün 107,0 seviyesine çıkan USD/JPY bugün 107,22’yi görmesinin ardından 106,20’ye gerileyerek 8 Mayıs sonrası en düşük seviyeye indi. USD/CHF 0,9530 seviyesinden dün itibariyle düşüşe geçti ve bugün de 0,9430’a indi.
Not: Türkiye'deki bütün özel bankalar İsveç Frangı ve Japon Yeni satıyor. Tıpkı Dolar veya Euro alır gibi bu para birimlerini de kolayca alabilirsiniz.
submitted by barisba to Yatirim [link] [comments]

Forecast for XAU/USD: Gold churns out records

Forecast for XAU/USD: Gold churns out records

Fundamental forecast for gold for today

Precious metal climbed too high

It’s done! What gold bugs had been dreaming about for decades happened: the price has reached a level of $2,000 per ounce. The weakness of the US dollar, the fall of the 10-year U.S. Bond yield to unbelievable minus 1%, and unstoppable growth of ETF reserves did their work. Meanwhile, gold bugs grew much older: according to JP Morgan’s research, the precious metal is usually bought by aged investors, while young traders prefer Bitcoin or high-tech stocks.
Many may find it surprising that gold is growing amidst the rally of US stock indexes. That often happens during recessions, though: enormous volumes of central banks’ cheap liquidity allow investors to build up long positions in risky and reliable assets. What’s more, the market prefers precious metals when it’s unsure about GDP’s recovery.

S&P 500’s and gold’s evolutions

Source: Trading Economics
Even if gold climbed high, there are still a lot of bullish forecasts: Goldman Sachs believes that the prices may go up to $2300 per ounce because investors are looking for a new reserve currency; RBC Capital Markets projects a level of $3,000.
XAU/USD bulls may have succeeded because the recession didn’t follow the 2007-2009 scenario. Then, the Fed’s monetary stimuli were enough for getting the economy back to the trend; now, it’s unclear. Then, the USD was growing as the US GDP’s recovery rate was faster than its global peers’ one; now, it’s falling amidst the economic divergence of growth. Then, the idea that inflation would speed up amidst increased money supply failed; now, it’s still alive. The difference between then and now allows us to say that gold hasn’t stop rallying yet.
The best scenario for gold would be a W-shape recovery of the US economy. It implies extending monetary and fiscal stimuli, further weakening the USD, and a drop in real US bond yields. However, a V-shape recovery of GDP will allow XAU/USD quotes to grow too. A long-term downtrend of the USD index is doubtless. At the same time, the Fed makes it clear that it’s ready to tolerate high inflation, which will raise the bond market rates.

Gold and expected inflation dynamics

Source: Wall Street Journal
The second coronavirus wave in Europe is the main factor in the development of the bullish scenario for gold. Under this scenario, the euro will fall, the USD index will grow and will probably continue growing as the divergence of economic growth will benefit the USA. That scenario is unlikely to happen. So, hold your long positions formed at $1820-1825 per ounce and build them up during retracements. XAU/USD may correct on the Congress’s approval of a new fiscal relief package and strong stats on the US labor market.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/forecast-for-xauusd-gold-churns-out-records/ ?uid=285861726&cid=79634
submitted by Maxvelgus to Finance_analytics [link] [comments]

Bitcoin-based trading platform, PrimeXBT, adds forex, commodities, and stock indices = no need to do KYC

The popular crypto trading platform, PrimeXBT, just added 30+ new financial instruments to its platform, including forex pairs, stock indexes, and commodities, complementing existing access to crypto-asset margin trading.
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submitted by rostercamp to Trading [link] [comments]

Steady gain in the gold market on last Friday upon the weakness of U.S dollar

There has been a massive fluctuation in the price of the gold market in the last Friday.as the investors were in doubt about the recent strength of the US dollar the price of gold sharply move in both the direction in the forex market during the trading session. However, at the end, the bulls were the winners and took the control of the market before the market closed. The gold price was settled at 1179.20 gaining a 9.8 percent in that day. In the month of February, the price of gold delivery was at one point at $ 1177.70 but this gain was erased as the price dropped to 1168.40.There has been also a sharp drop in the U.S unemployment rate for near about 4, 6% which is the highest drop within the last decade. However, the non-firm payroll data was positive and the payroll rose by 178k in the market. However, the leading economist was expecting 180k which means 90 millions of U.S workers are yet to find their job. The recent strength of the U.S dollar was boosted by the U.S presidential election as Mr. Trump came up with very optimistic solutions for their economy. However, over the course of time, his statement lost the power in the global economy and the strength of the dollar is again slipping down. The FED is most likely to hike their interest rate in the month of December since the ongoing performance of the U.S economy is pretty stable and such an increase in the interest rate will significantly impact the gold price since it is priced in dollars. According to FED rate hike, monitor tool there 91.3% chance that FED will hike their interest rate in the upcoming FOMC meeting minutes but leading economist are doubted since the FED might need another rate hike for the longevity of their dollar strength in the global economy.
In last Friday the price of gold had a strong rally in the market as the U.S dollar lose its strength in the market on the release of the weak Non-farm payroll data. To be precise if the dollar starts to retreat at this moment than this might cause a shift in the commodities price including the precious metal gold. On the contrary, the average hourly income of the U.S citizen has grown significantly in the last few months and investors are considering this fact as a strong sign for the new bulls in the market. The consumer sentiment of the U.S economy is also very positive at the current moment since they have been eased with lots of promising statement by the newly elected president Donald Trump. The leading economic researchers are still in doubt about the real strength of the dollar since most of the strength I s based on an optimistic statement by the leading leaders of the U.S economy.
The investors are in fear since they have no clue about the recent performance of the U.S dollar. In the eyes of trained professional, the upcoming FOMC meeting minute is going to play a major role in the gold and commodities market. They are cautiously waiting for the FED decision to extract a clear information about the recent economic performance and a future plan of the U.S government. If the FED come up with the hawkish statement in the month of December then it will be a very hard time for the precious metals investors since deeper decline will rule the market. In the next week, the US Prelim UoM Consumer Sentiment data will be released and this data will also help the traders to understand the current market sentiment. The US dollar Index is currently trading below the critical daily support line at 100.75.This means clearly creates a doubt into the mind of investors about the sustained strength of the U.S dollar. If the S dollar index fails to find enough bullish momentum at the current level then we will see a sharp decline in the U.S index towards its next critical support level at 100.55.This level is going to play a significant role in the global economy since with a closing of the price near that level will indicate a closing near its weekly lows. On the contrary, the price of gold is trading well above the resistance level. Currently, the resistance level is $1175.95 and this level has turned into a strong support level. If the price of gold extends above $1180.56 level then we will see a nice bullish run in the price of gold for a prolonged period of time.
The intraday support for the gold is currently at $1167.22 and 1162.67.This clearly demonstrates that the gold as plenty of support below and there is strong chance that the breakout will be in the upward direction. However, the recent pending interest rate decision has become one of the major issues for the gold investors since interest rate change can significantly change the price of gold in the financial market. Considering all the facts trading the gold at the current price level is extremely risky. Experts have no clue about the recent strength of the US dollar and where the strength will go in the next FOMC meeting minutes.TO be precise the FED are now in the driving seats and all the investors are cautiously waiting on the sideline for the better trading opportunity. In the opinion of expert investors, it’s better to enter the market after the dust settles down since they will have a clear overview of the fundamental factors of the market.
submitted by dwaynebuzzell to tradingfx [link] [comments]

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Forex Live Trading November 10 DAY Session EUR/USD XAU/USD ...

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