GOLD accumulates with an overall upward trend

30 août

XAUUSD decreased again, after yesterday's recovery and the market in general is still accumulating with an upward trend both fundamentally and technically.
At the Asian session on August 30, as of the time this article was completed, gold was trading at about 2,513USD/oz, a decrease equivalent to more than 7 dollars on the day and about 0.31%.

Investors are awaiting data on US PCE inflation, the Fed's preferred inflation measure.
At 19:30 Hanoi time today (Friday), US personal consumption expenditure (PCE) price data for July will be published, which may provide further assessment of the pace of rate cuts in September, including the pace of the upcoming rate cut cycle.

Surveys show the US PCE price index is expected to rise 0.2% monthly in July, after rising 0.1% in June.
The US PCE price index is expected to increase at an annual rate of 2.6% in July, following a 2.5% increase in June.
In terms of core data, the survey shows that the US core PCE price index in July is expected to increase 0.2% month-on-month, after increasing 0.2% in June; increased at an annual rate of 2.7%, compared with a 2.6% increase the previous month.
As the Fed's preferred measure of inflation, year-over-year changes in the core PCE price index have a larger impact on policymakers.

From a technical perspective, the technical structure has not changed throughout the past week and readers can review this week's most recent publications below.

The target for the week remains unchanged for gold to surpass its all-time high of $2,531 and refresh its new all-time target of $2,544.

During the day, the technical prospect of gold price increase will be noticed again by the following price levels.
Support: 2,503 – 2,500 – 2,484USD
Resistance: 2,531 – 2,544USD

SELL XAUUSD PRICE 2551 - 2549⚡️
↠↠ Stoploss 2555

→Take Profit 1 2544
↨
→Take Profit 2 2539

BUY XAUUSD PRICE 2482 - 2484⚡️
↠↠ Stoploss 2478

→Take Profit 1 2489
↨
→Take Profit 2 2494

2 sept.

Note

Gold prices dipped on Monday as the dollar strengthened, while investors awaited key U.S. jobs data to firm their bets on the size of the Federal Reserve’s interest rate cut expected this month.

2 sept.

Note

2 sept.

Note

The situation becomes even more complicated when considering recent moves by the BoE. Although the BoE has pioneered interest rate cuts, ahead of the Fed, this does not seem to have had the expected effect. Since the interest rate cut on August 1, UK long-term government bond yields have tended to increase, reflecting market skepticism about the effectiveness of current monetary policy.

4 sept.

Note

Gold prices fell to their lowest level in more than a week in the early trading session of September 3, under pressure from a stronger USD, while investors waited for US employment data to determine the scale of interest rate cuts. potential yields at the Fed's September policy meeting.

4 sept.

Note

Gold prices held steady on Wednesday as investors braced for a monthly U.S. payrolls report that could influence how swiftly and deeply the Federal Reserve cuts interest rates this year.

4 sept.

Note

Since the labor market is no longer overheating and both actual and expected inflation are cooling, we expect the FOMC to lower interest rates by 25 bps in each meeting from September to June 2025, this will be followed by two 25 bps cuts in the second half of 2025. This will eventually put interest rates in the range of 3.00-3.25% (previously 3.75-4.00%) by the end of 2025.

5 sept.

Note

Gold prices fell to their lowest level in nearly 2 weeks on Wednesday (September 4), extending the decline for the fourth consecutive session, as the market forecast that the US Federal Reserve (Fed) would lower interest rates. slightly at this month's policy meeting.

5 sept.

Note

Gold prices traded back above $2,500 on Thursday after recovering from the previous day's low of $2,471, following the release of lower-than-expected July job openings data from the US, sparking New concerns about the possibility of a "hard landing". Gold prices recovered after the release of weaker-than-expected US employment data.

8 sept.

Note

World gold prices fell sharply in the trading session on Friday (September 6), slipping from the 2,500 USD/oz mark, after the US Department of Labor released the August employment report. Although these statistics are worse Expectations, the market increased bets on the possibility of the Fed choosing a smaller interest rate cut in the upcoming meeting, leading to devaluation pressure on gold.