Gold price drops - stabilizes by the end of 2024

2024年11月7日

XAU / USD trend forecast November 7, 2024

Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest.

Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.”

Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months.

/// SELL XAU : zone 2682-2685

SL: 2690

TP: 50 - 150 - 300 pips (2655)


Safe and profitable trading

2024年11月7日

交易進行

+ 50 pips, profit signal plan day 2682-2685

2024年11月7日

取消訂單

2700 became a strong resistance area before the FOMC today - the bulls' effort