Daily Price Outlook

The price of gold has consolidated above the level of $1945.20, indicating potential signs of a bullish rebound. The stochastic positivity observed on the four-hour timeframe suggests a bullish bias in the upcoming sessions, with the price potentially aiming to test the level of $1977.25.

As long as the price remains above $1955.00, the overall positive scenario remains valid, reinforcing the positive outlook. However, if the price breaks below $1945.20, the suggested bullish trend may come to a halt, leading to a potential decline in the price.

For today's trading, the expected range is between support at $1940.00 and resistance at $1975.00. The expected trend for today is bullish.

 GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Limit 1945

Take Profit – 1965

Stop Loss – 1935

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$2000/ -$1000

Profit & Loss Per Micro Lot = +$200/ -$100

Daily Price Outlook

The Gold price (XAU/USD) has experienced a gain of 0.19% and is now valued at $1950 after rebounding from its biggest daily loss since June 02. However, it is on track for its first weekly decline in four weeks. The rise in price reflects the market's cautious optimism amidst mixed concerns regarding the Federal Reserve's future actions and the ongoing tensions between the US and China, which are expected to be influenced by the release of top-tier US data. 

As stock futures show slight gains and yields rise, market sentiment has weakened. This situation is caused by a battle between strong US growth data and the central bank's inability to convince policy hawks. Moreover, fears of new US-China conflicts have emerged due to recent measures taken by Washington. 

These factors have prompted investors to seek the safety of gold, leading to a recovery in the XAU/USD. Expectations of a September rate hike by the Federal Reserve are also playing a role in shaping market sentiment towards gold. 

Looking ahead, the Core Personal Consumption Expenditure (PCE) Price Index for June will be a key factor to monitor. It is the Fed's preferred inflation gauge, and the expected figure of 4.2% year-on-year, compared to the previous 4.6%, will be closely watched for insights into inflation trends and potential implications for the central bank's future monetary policy decisions. 

This data will play a crucial role in guiding the market direction leading up to next week's employment data release. As investors assess these fundamental factors, they will continue to influence the movements of the XAU/USD price in the market.

GOLD(XAU/USD) - Technical Analysis

The price of gold has consolidated above the level of $1945.20, indicating potential signs of a bullish rebound. The stochastic positivity observed on the four-hour timeframe suggests a bullish bias in the upcoming sessions, with the price potentially aiming to test the level of $1977.25.

As long as the price remains above $1955.00, the overall positive scenario remains valid, reinforcing the positive outlook. However, if the price breaks below $1945.20, the suggested bullish trend may come to a halt, leading to a potential decline in the price.

For today's trading, the expected range is between support at $1940.00 and resistance at $1975.00. The expected trend for today is bullish.

Daily Price Outlook

Yesterday, gold prices rose by 0.55%, reaching $1980, the highest level in six days, thanks to three consecutive sessions of growth. Federal Reserve Chairman Jerome Powell acknowledged that inflation had somewhat decreased since last year, but still has a long way to go to reach the Fed's 2% goal.

Despite this, Powell suggested that the Fed may not change rates at its September meeting, instead waiting for incoming data before considering future rate hikes. This prospect of the Fed nearing the end of its rate-hike cycle is the reason behind today's increase in gold prices. Gold is particularly sensitive to rising interest rates, as they make it more costly to hold non-yielding bullion.

The European Central Bank is anticipated to increase interest rates by 25 basis points on Thursday to combat inflation and meet its targets. However, concerns about a slowdown in the Eurozone's economy may lead to a pause in rate hikes, despite the possibility of the ECB raising borrowing costs in July and September.

The market is waiting for ECB President Christine Lagarde's statements to gain insight into future monetary policy. A hawkish stance could limit gains in the gold price.

China, the largest gold consumer, has indicated additional support for its real estate sector and domestic consumption after COVID recovery. This could further increase the gold price. Therefore, gold traders are keeping an eye on China's additional stimulus plans.

Market participants are also closely watching the first readings of the US Gross Domestic Product (GDP) for Q2, the core Personal Consumption Expenditure (PCE) Price Index MoM, Durable Goods Orders, and Initial Jobless Claims data. These figures may impact USD price dynamics and could influence short-term trading opportunities in the gold market.

Gold (XAU/USD) Technical analysis

The gold price continues its upward momentum, approaching the critical level of $1977.25 and attempting to break through it. A successful breach of this level would indicate a potential end to the recent bearish correction and signal a return to the main bullish trend. Subsequently, the price may target gains starting at $2000.00 and potentially extending to $2016.90.

Given the current market dynamics, a bullish bias is suggested for today, supported by the EMA50 providing underlying support. However, it is crucial to closely monitor the price's consolidation above $1977.25, as a failure to do so might impede the expected rise and lead to a potential decline.

The anticipated trading range for today is expected to be between the support level of $1965.00 and the resistance level of $1995.00.

Daily Price Outlook

The gold price continues its upward momentum, approaching the critical level of $1977.25 and attempting to break through it. A successful breach of this level would indicate a potential end to the recent bearish correction and signal a return to the main bullish trend. Subsequently, the price may target gains starting at $2000.00 and potentially extending to $2016.90.

Given the current market dynamics, a bullish bias is suggested for today, supported by the EMA50 providing underlying support. However, it is crucial to closely monitor the price's consolidation above $1977.25, as a failure to do so might impede the expected rise and lead to a potential decline.

The anticipated trading range for today is expected to be between the support level of $1965.00 and the resistance level of $1995.00.

Overall, the trend outlook for today is deemed bullish, considering the prevailing price action and technical indicators. Traders and investors should exercise diligence in evaluating market conditions and consider these factors while making trading decisions.

Gold (XAU/USD) Trade ideas

Entry Price – Buy Above 1970

Take Profit – 1995

Stop Loss – 1960

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$2500/ -$1000

Profit & Loss Per Micro Lot = +$250/ -$100

Daily Price Outlook

Gold price remained relatively stable yesterday, maintaining its position around $1,960.00, thereby sustaining the bearish trend scenario without any significant changes. The focus remains on the potential target at $1,945.20.

It is important to note that a breakthrough of the mentioned target level could lead to further losses, potentially driving gold price down to $1,913.15 in the short term.

On the other hand, a breach of $1,977.25 would be crucial in resuming the primary bullish trend and aiming for gains towards $2,000.00, followed by $2,016.90.

Today's projected trading range lies between the support level at $1,945.00 and the resistance level at $1,977.00.

Gold (XAU/USD) Trade ideas

Entry Price – Buy Above 1962

Take Profit – 1982

Stop Loss – 1946

Risk to Reward – 1: 1.25

Profit & Loss Per Standard Lot = +$2000/ -$1600

Profit & Loss Per Micro Lot = +$200/ -$160

Daily Price Outlook

On Wednesday, XAU/USD surged by +0.45%, reaching above $1972.36. US Treasury Yields remained steady before the Federal Reserve's (Fed) upcoming decision, with the 2-year yield falling by 1%, while the 10-year yield slightly climbed to 3.88%.

The Federal Housing Agency's Housing Price Index and S&P/Case-Shiller Home Price Indices (YoY) for May both exceeded expectations with readings of 0.7% and -1.7%, respectively. Additionally, the Richmond Fed Manufacturing Index for July showed a better-than-predicted reading of -9, compared to the expected -10.

The Federal Reserve is concluding its July monetary policy meeting on Wednesday afternoon. Wall Street anticipates the FOMC to begin a rate hike campaign, raising its benchmark rate by 25 basis points to a range of 5.25% to 5.50%, the widest range since 2001. As this move is widely anticipated, it is not expected to cause significant volatility. Traders and investors should focus on policy advice.

There won't be a summary of economic forecasts this time, but Jerome Powell will hold a press conference after the central bank's decision is revealed. Despite the weaker-than-expected June U.S. CPI report, Powell may adopt a more dovish stance to prevent excessive loosening of financial conditions and maintain flexibility in case inflation rises in the future.

If Powell suggests the need for further efforts to maintain price stability and hints at future rate increases, Treasury yields, especially at the short end of the curve, may rise. This could catch many traders off guard and lead to a short squeeze.

A significant dollar rally resulting from the short squeeze would be detrimental to precious metals. While there might be short-term losses for gold (XAU/USD) and silver (XAG/USD), a major market sell-off is unlikely. The normalization cycle is nearing completion, even with potential further interest rate increases.

However, traders should also consider the possibility of Powell adopting a more lenient stance. If he emphasizes a data-dependent approach and the markets anticipate an easing cycle, it could weaken the US dollar, benefiting silver and gold.

Gold (XAU/USD) Technical analysis

Gold price remained relatively stable yesterday, maintaining its position around $1,960.00, thereby sustaining the bearish trend scenario without any significant changes. The focus remains on the potential target at $1,945.20.

It is important to note that a breakthrough of the mentioned target level could lead to further losses, potentially driving gold price down to $1,913.15 in the short term.

On the other hand, a breach of $1,977.25 would be crucial in resuming the primary bullish trend and aiming for gains towards $2,000.00, followed by $2,016.90.

Today's projected trading range lies between the support level at $1,945.00 and the resistance level at $1,977.00.

Daily Price Outlook

The price of gold saw an increase during the Asian session on Tuesday, rebounding from a one-week low experienced the previous day. Currently trading near $1,964, it shows a 0.14% rise for the day. Several factors contribute to this rise in the safe-haven asset.

Investors are closely monitoring key central bank meetings this week due to concerns about a potential global economic downturn and escalating tensions between the US and China, the world's two largest economies. 

Poor reports on business activity in the US, UK, and Euro Zone in July have heightened worries about a worldwide economic slowdown, leading to a surge in demand for safe-haven assets, including precious metals.

The US Dollar is also experiencing a decline of -0.11% today, providing additional support to the XAU/USD pair. However, its potential for further gains is limited ahead of the Federal Open Market Committee (FOMC) policy meeting set to begin on Tuesday. 

The Fed is widely expected to raise interest rates by 25 basis points during this meeting. Investors will closely scrutinize the statements from Fed Chair Jerome Powell after the meeting for any hints regarding future rate hikes, which will significantly impact the value of the USD and consequently influence the price of gold.

In addition to the FOMC decision, significant US macroeconomic data, such as the Advance Q2 GDP report and the Core PCE Price Index, are scheduled for release this week. Furthermore, the European Central Bank meeting on Thursday and the Bank of Japan's monetary policy statement on Friday will also have a notable influence on the short-term trajectory of gold prices.

Gold (XAU/USD) Technical analysis

Gold prices experienced a downtrend and attempted to surpass the EMA50, but eventually settled around it. The current stochastic positivity influenced the fluctuations, while investors await negative momentum to push the price back into the bearish bias, with the primary target at $1,945.20.

We maintain a bearish view for the short term unless the price manages to rally and breach the level of $1,977.25, sustaining a position above it. Such a breakthrough could lead the price back to the main bullish trajectory. However, if the price breaks the support at $1,945.20, it could lead to further losses, reaching $1,913.15.

The expected trading range for today is between the support level of $1,945.00 and the resistance level of $1,977.00.

Daily Price Outlook

Gold prices experienced a downtrend and attempted to surpass the EMA50, but eventually settled around it. The current stochastic positivity influenced the fluctuations, while investors await negative momentum to push the price back into the bearish bias, with the primary target at $1,945.20.

We maintain a bearish view for the short term unless the price manages to rally and breach the level of $1,977.25, sustaining a position above it. Such a breakthrough could lead the price back to the main bullish trajectory. However, if the price breaks the support at $1,945.20, it could lead to further losses, reaching $1,913.15.

The expected trading range for today is between the support level of $1,945.00 and the resistance level of $1,977.00.

Gold (XAU/USD) Trade ideas

 Entry Price – Sell Limit 1965

 Take Profit – 1950

Stop Loss – 1970

Risk to Reward – 1: 3

Profit & Loss Per Standard Lot = +$1500/ -$500

Profit & Loss Per Micro Lot = +$150/ -$50

Daily Price Outlook

On Monday, the price of gold finds it difficult to acquire momentum. The yellow metal is currently trading 0.24% lower than $1,961 for the day. Market participants are anticipating the Federal Open Market Committee (FOMC) meeting and the press conference by Fed Chairman Jerome Powell, as stated by Goldman Sachs. The price of gold in US dollars could be considerably impacted by these occurrences.

On Wednesday, the Federal Reserve (Fed) will disclose the results of its monetary policy meeting, and market participants anticipate a 25 basis point (bps) increase in interest rates. According to the CME FedWatch Tool, the likelihood of another Fed rate hike following the July meeting jumped to 28% from 15.9% last month.

This signals the potential end of the current rate-hiking cycle. This has contributed to the US Dollar's recovery and acted as a headwind for the Gold price. The focus will be on the monetary policy statement and comments from Fed Chair Jerome Powell after the meeting.

Following this, the European Central Bank (ECB) is also anticipated to raise borrowing costs by 25 basis points in their meeting to control high inflation. The prospects of further tightening from both central banks are limiting the rise of Gold prices.

However, concerns over China's economic growth, US-China trade relations, and geopolitical risks are preventing a significant decline in the Gold price.

 Gold (XAU/USD) Technical analysis

Gold prices have confirmed a break below the support line of the intraday bullish channel, indicating an upcoming decline towards the $1945.20 level. This suggests a bearish bias for today, and further confirmation of the bearish trend will occur if the price breaks below $1960.00.

However, it's important to note that this expected decline is temporary, and the bullish track is expected to resume later on. If the price breaks below the targeted level, it may face additional negative pressure, with the next target at $1913.15.

On the other hand, breaching the $1977.25 level will be a positive factor that could halt the current negative pressure and lead to a rise in the price.

Expected trading range for today: $1945.00 (support) to $1977.00 (resistance).

Daily Price Outlook

Gold prices have confirmed a break below the support line of the intraday bullish channel, indicating an upcoming decline towards the $1945.20 level. This suggests a bearish bias for today, and further confirmation of the bearish trend will occur if the price breaks below $1960.00.

However, it's important to note that this expected decline is temporary, and the bullish track is expected to resume later on. If the price breaks below the targeted level, it may face additional negative pressure, with the next target at $1913.15.

On the other hand, breaching the $1977.25 level will be a positive factor that could halt the current negative pressure and lead to a rise in the price.

Expected trading range for today: $1945.00 (support) to $1977.00 (resistance).

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Stop 1956

Take Profit – 1934

Stop Loss – 1967

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$2200/ -$1100

Profit & Loss Per Micro Lot= +$220/ -$110