#xauusd #gold
🟡 Gold is approaching the $1800 resistance.
☝️Gold is supported by the weakness of the dollar, as well as a decrease in the yield of 10-year US government bonds - gold's main competitor in terms of protective properties.
📊Interest from institutional investors is also growing. According to the report of the US Commodity Futures Trading Commission (CFTC), last week the number of net speculative positions in gold reached 124.3 thousand, adding 31.6 thousand at once, which is the most significant weekly increase since November 2021. If this trend continues this week, then it will be possible to state a change in trend.
📈Analysts recommend buying gold with a target of $1850.🚀
🟡 Gold is approaching the $1800 resistance.
☝️Gold is supported by the weakness of the dollar, as well as a decrease in the yield of 10-year US government bonds - gold's main competitor in terms of protective properties.
📊Interest from institutional investors is also growing. According to the report of the US Commodity Futures Trading Commission (CFTC), last week the number of net speculative positions in gold reached 124.3 thousand, adding 31.6 thousand at once, which is the most significant weekly increase since November 2021. If this trend continues this week, then it will be possible to state a change in trend.
📈Analysts recommend buying gold with a target of $1850.🚀
Forwarded from Serg Udutov
#xauusd #gold
🟡Gold has been trading lower for the 7th trading session in a row and holds positions around $1735 per ounce.
1️⃣ The pressure on the XAU/USD pair is still exerted by the prospect of further tightening of monetary policy in the United States. Market participants admit that in September the Fed may raise interest rates by 75 basis points, which will be a tailwind for the dollar, which is already renewing multi-year highs.
2️⃣ A negative factor for gold also remains the growth in the yield of US government bonds: at the beginning of the week, the yield on 10-year bonds exceeded 3%, which corresponds to a maximum in several years.
📉 With that said, the XAU/USD pair maintains downside potential to $1720.
🟡Gold has been trading lower for the 7th trading session in a row and holds positions around $1735 per ounce.
1️⃣ The pressure on the XAU/USD pair is still exerted by the prospect of further tightening of monetary policy in the United States. Market participants admit that in September the Fed may raise interest rates by 75 basis points, which will be a tailwind for the dollar, which is already renewing multi-year highs.
2️⃣ A negative factor for gold also remains the growth in the yield of US government bonds: at the beginning of the week, the yield on 10-year bonds exceeded 3%, which corresponds to a maximum in several years.
📉 With that said, the XAU/USD pair maintains downside potential to $1720.
Forwarded from Serg Udutov
#xauusd #gold
🟡 Gold is holding positions near multi-month lows at $1715 an ounce.
1️⃣ According to the report of the American Mint, August was the weakest month of this year in terms of sales of the precious metal. In particular, a total of 46,000 ounces of gold in the form of an American Eagle coin were sold, which is 28% lower than in July and 66% lower than in August 2021.
2️⃣ Another negative factor for the asset is the outflow of investors from ETF funds. So, over the past week, the stocks of metal at SPDR Gold Shares (GLD) decreased by 11 tons, demonstrating negative dynamics for the tenth consecutive week, while net capital outflow in August exceeded $450 million.
📉A drop in demand may cause a correction of the XAU/USD pair to $1650.
Trade using mobile app or the web version
🟡 Gold is holding positions near multi-month lows at $1715 an ounce.
1️⃣ According to the report of the American Mint, August was the weakest month of this year in terms of sales of the precious metal. In particular, a total of 46,000 ounces of gold in the form of an American Eagle coin were sold, which is 28% lower than in July and 66% lower than in August 2021.
2️⃣ Another negative factor for the asset is the outflow of investors from ETF funds. So, over the past week, the stocks of metal at SPDR Gold Shares (GLD) decreased by 11 tons, demonstrating negative dynamics for the tenth consecutive week, while net capital outflow in August exceeded $450 million.
📉A drop in demand may cause a correction of the XAU/USD pair to $1650.
Trade using mobile app or the web version