Short

Gold outlook for week 36

Mis à jour

⚡️Gold prices neared a one month high Friday before consolidating to end the week up just over 1% after a mixed U.S. jobs report for August, where payrolls came in higher than forecast but unemployment also rose, touching 18-month highs.

⚡️The US economy added 187,000 nonfarm payrolls last month against a forecast 170,000 while the jobless rate perked to 3.8% from a previous 3.5%, the Labor Department said. The mixed reading conveyed the messaging that the Federal Reserve might not immediately resort to more rate hikes to bring inflation to its long-standing target of 2% per annum from the about 3% it hovered at now.

⚡️The Fed has said it will not cut interest rates as long as inflation remains above 2%, leaving the central bank facing what could be a protracted battle to achieve its target.

⚡️August's jobs numbers suggest the Fed will have to think harder about how to proceed with interest rate adjustments as it aims to bring inflation back to the 2% annual rate or below before the COVID-19 outbreak. 19 in March 2020.

⚡️Share your ideas with Krado, I'm looking forward to it⚡️

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⚡️The Fed has three more opportunities to raise interest rates this year, with the policymaking Federal Open Market Committee set to make rate decisions on September 20, November 1 and December 13 .

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⚡️With jobs still growing more than expected each month, the central bank could opt for one or two more hikes this year.
⚡️Yet, any growth in unemployment as well, as evidenced in August, will complicate the Fed’s decision-making process on this. Aside from keeping inflation at or below 2%, the central bank is mandated by the US Congress to provide maximum employment to Americans — a target identified by a jobless rate of 4% or below. Last month’s unemployment rate of 3.8% was the highest since February 2021.

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⚡️At the end of the week, spot gold XAU/USD erased daily gains, retreating to the $1,939 area. After an initial retreat, US bond yields recovered during the US session, but the yellow metal is still set for a week of gains of more than 1%.

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Gold 01.09 waiting for the Non-Farm Employment Change

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⚡️The Fed is widely expected to pause another rate hike next month, but Chairman Jerome Powell said late last week that central bank officials remained open to further rate hikes as required depending on economic data.

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⚡️Gold prices neared a one-month high Friday before consolidating to end the week up just over 1% after a mixed U.S. jobs report for August, where payrolls came in higher than forecast but unemployment also rose, touching 18-month highs

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⚡️Gold Price (XAU/USD) remains mildly bid while picking up bids to reverse the previous day’s pullback from a one-month high amid early Monday

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⚡️Gold prices rose slightly on Monday, extending gains from the prior session as mixed U.S. labor data cemented expectations that the Federal Reserve will keep interest rates on hold.

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⚡️This notion weighed on the dollar and Treasury yields, allowing the yellow metal to appreciate on the prospect of fewer increases in its opportunity cost.

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⚡️Gold price trades with a negative bias for the second straight day on Tuesday, albeit lacks follow-through and remains well within a familiar range held over the past week or so. The XAU/USD is currently placed just below the $1,940 level, down less than 0.10% for the day, and is pressured by a combination of factors

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⚡️Markets are now focused squarely on a slew of Fed speakers this week, who are expected to offer more cues on monetary policy before an interest rate decision later this month.

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⚡️XAU/USD bears have a tough time keeping control unless breaking $1,930 and $1,915 key support confluences

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⚡️Gold Price seesaws within key trading range despite the previous day’s heavy loss

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⚡️Gold trades slowly waiting for PMI

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⚡️The actual PIM news is greater than the forecast, which is not a good outlook for gold

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⚡️My plan was right

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⚡️Bets for more Fed rate hikes to act as a tailwind for the buck and cap the upside.

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⚡️The Fed is widely expected to keep rates on hold in September. But the central bank is also set to keep rates higher for longer.

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⚡️After Unemployment Claims news, reality was smaller than forecast, good for USD, bad outlook for gold

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⚡️Trading still follows the trend line

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XAUUSD at the end of the day, trading in a narrow range,

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⚡️The USD continues to increase in price, the longest upward trend since 2014. According to

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⚡️Short plan

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⚡️Gold price attracts some buyers for the second successive day and draws support from a combination of factors.

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⚡️DXY's recovery pushed gold down the past few days

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⚡️The market becomes more active when the American session begins

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⚡️ Gold fell below 1920

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⚡️US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US.

Transaction en cours

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⚡️The US is facing the risk of second round inflation, leaving the Fed open to raising interest rates, putting further pressure on the exchange rate

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⚡️The three-session decline after Monday's U.S. Labor Day holiday meant a negative week for Comex gold, causing prices to end the five-day period net down 1.2%, nearly taking returning to last week's increase of 1.3%.

Transaction en cours

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⚡️Do you think after the "shark" SPDR Gold Trust released more than 3 tons of gold, the gold market will be more exciting?

Transaction en cours

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⚡️China’s disinflationary pressures influenced the yellow metal.

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⚡️XAU/USD failed to break above long-term trendline resistance and is currently hovering around the 1925.06 reversal bottom. The RSI indicator shows hesitation among traders without showing any specific trend. Upcoming data releases could fuel the trend with any move to support the USD likely causing gold prices to test resistance once again

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⚡️In this morning's trading session, the yellow metal has had a significant increase, can gold break the 1930 barrier?

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⚡️Everything is going according to plan

Krado_KO

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