GOLD MARKET ANALYSIS AND COMMENTARY - [Feb 17 - Feb 21]

6 天前

XAUUSD have leveled off after a series of record increases, ending the week below 2,900 USD/oz due to strong profit-taking activities. The main reason is that geopolitical tensions in Eastern Europe have eased, reducing the need for safe havens. President Donald Trump had a phone call with Russian President Vladimir Putin about ending hostilities in Ukraine and suspending tariffs until a review is completed in April 2025.

Gold prices may continue to adjust in the short term, but in the long term, safe haven demand due to economic instability and trade war will push prices up. In addition, central banks stepped up gold purchases, with more than 1,000 tons in 2024 - much higher than the average level in the 2010-2021 period, contributing to supporting the rise of gold.

China launched a pilot project allowing 10 insurance companies to invest up to 1% of assets in gold. It is forecast that these companies can buy up to 28 billion USD of gold (about 300 tons), accounting for 6.5% of annual physical gold demand, contributing to boosting the market.

SOME DATA THAT MAY AFFECT GOLD PRICES NEXT WEEK:
Tuesday: Empire State Manufacturing Index (economic index measuring business conditions of the manufacturing industry in New York state, USA. This index is announced monthly by the US Federal Reserve (FED) New York branch, based on a survey of manufacturers in the region).
Wednesday: US housing data (New homes and construction permits), FED meeting minutes.
Thursday: US Weekly Jobless Claims, Philadelphia Fed Manufacturing Survey.
Friday: S&P Flash PMI, US Existing Home Sales

📌Technically, on chart D1, after surpassing the peak at 2790, the gold price increased another 150 and tends to adjust again.
Currently, the support level to pay attention to is around the dynamic resistance level as well as the hard resistance level at 2790, while the resistance level is set around 2942. Next week, if the gold price maintains the trading level above the 2800 threshold, it is expected that the momentum will increase to set a new record high price. In case the price declines and adjusts too deeply, there is a risk that the gold price will be subject to downward selling pressure.

Notable technical levels are listed below.
Support: 2,881 – 2,857USD
Resistance: 2,900 – 2,942USD

SELL XAUUSD PRICE 2951 - 2949⚡️
↠↠ Stoploss 2955

BUY XAUUSD PRICE 2789 - 2791⚡️
↠↠ Stoploss 2785

6 天前

註釋

Spot gold prices reached $2,900 an ounce, up 0.60% on the day.

5 天前

註釋

After plummeting 1.6% last Friday, gold recovered to $2,900 an ounce on Monday on concerns about trade tensions under President Trump.

5 天前

註釋

5 天前

註釋

Gold recovered positively towards $2,910

4 天前

註釋

Currently, the US Treasury Department's gold is still priced at 42.22 USD/ounce, much lower than the market price. If revalued, the value of gold mortgages could increase from $11 billion to about $750 billion.

4 天前

註釋

Spot gold prices were above $2,940 an ounce, up 0.17% on the day.

3 天前

註釋

🔴Spot gold price is above $2,940 an ounce, up 0.24% on the day.

3 天前

交易進行

Weekly Plan SELL +40pips🔽🔽🔽

3 天前

註釋

🔴Spot gold prices continue to decline, down $10 in the short term and currently trading at $2,937 an ounce.

前天

註釋

⚫Historical data shows that after price peaks, gold often declines in the next 5-10 years. This happened after the 2012 peak, when gold prices halved in three years.

前天

註釋

🔴 Gold prices are rising rapidly and are currently trading at $2,938 after US PMI economic data fell sharply short of expectations.