Gold technicals brewing for a major breakout! Bulls target these key resistances. FXStreet analyst gold price technical analysis
#Gold Technical Analysis# 24K99 News On Monday (December 9th), in the Asian session, spot gold maintained a strong upward trend, with the current price trading near $2643 per ounce, up more than $10 during the day.
Gold Prices Rebound, Bulls Retain Upper Hand
Gold prices soared to over $2,650! Bloomberg: The reason for the sudden surge in gold prices is here.
During the Asian trade session on Monday, spot gold rose significantly, with prices reaching a high of $2650.62 per ounce in the Asian market. Currently, gold is trading at $2643 per ounce, an increase of $10 for the day. Bloomberg pointed out that the central bank of china increased its gold reserves for the first time in seven months, and the rapid collapse of the Syrian government further destabilized the Middle East, both of which contributed to the rise in gold prices on Monday.
The performance of the golden industrial concept has been active, and the People's Bank of China has restarted gold purchases after a six-month interval; what does this signal?
Diversification of reserves.
Gold market surged! The price of gold plummeted by $20 from the daily high. Looking at the technical prospects of gold with two pictures. How can investors profit and settle?
On Monday morning in the Asian market, spot gold suddenly plummeted, dropping $20 from an earlier daily high, now around $2,628 per ounce. Analyst Nicholas Kitonyi from the renowned financial website FXDailyReport stated that from a technical perspective, according to the 60-minute chart, the price of gold is trading within a downward channel.
What does the central bank's purchase of gold again mean? How to carry out global asset allocation next year? Multiple public fund professionals share their views.
① The fund manager compares bitcoin to "fake gold," but it has no physical delivery and is highly volatile, making it unsuitable for allocation by households or institutions; ② U.S. stock valuations are high, but there are no obvious systemic risks, so continued allocation is advised; ③ It is expected that the A-share market will continue to exhibit volatility in the short term, and the semiconductor sector can be held for the long term with swing trading.
Gold Advances as China's Central Bank Resumes Buying After Pause
Breaking news! The central bank has increased its gold shareholding again.
On December 7, the latest data from China's central bank shows that as of the end of November 2024, China's gold reserves were 72.96 million ounces, compared to 72.8 million ounces at the end of October. This marks the first shareholding in gold by the central bank in six months.
After six consecutive months of inaction, the central bank of China once again increased its gold holdings in November, what impact will this have?
The latest data from the central bank of china shows that at the end of November, gold reserves reported at 72.96 million ounces. This figure has increased by 0.16 million ounces compared to the end of October (previous value was 70.8 million ounces). On December 5, the latest data from the World Gold Council shows that the net gold purchases by central banks in October were 60 tons, marking the peak for a single month in 2024.
Gold Should Rise but Upside Capped by Potential for Higher Inflation, Analyst Says
GLD ETF Closes Flat
SPDR Gold ETF Options Spot-On: On December 6th, 117.23K Contracts Were Traded, With 2.83 Million Open Interest
On December 6th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 117.23K options for the day, of which put options accounted for 50.95% of the total transactions,
Commodities Slip a Bit Into December, but Silver Outshines Gold
Gold Trades Higher as Dollar and Yields Drop After the U.S. Added More Jobs Than Expected in November
Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday Ahead of Eagerly Awaited Employment Situation Report
Commodity Roundup: Gold ETFs See Net Loss for First Time in Six Months; ING Ups Brent Forecast
2024 Mystery: Who drove the rise in gold prices?
China's "gold rush" is driving the gold market in 2024. Starting in 2023, the People's Bank of China initiated an 18-month gold purchasing program.
A major gold market movement is imminent! How to trade gold with the non-farm payroll report coming up? FXStreet analyst's technical analysis on gold prices.
#Technical Analysis of gold# 24K99 News On Friday (December 6), in the early European session, spot gold maintained an intraday rebound trend, with the current price around $2640 per ounce.
Dr. Rubin, the doomsday doctor: Trump will lead the usa into stagflation.
Roubini believes that at least two policies will increase long-term inflation risks: one is to strictly limit immigration or even to carry out large-scale deportations of immigrants, and the second is tax reduction policies that lead to a vicious expansion of fiscal deficits, further disrupting and weakening the position of the dollar.
Tonight's non-farm payroll report is crucial for the Federal Reserve! Has the gold bearish sentiment taken the lead?
Although it is important, tonight's non-farm report may still be difficult to interpret, and Wall Street cannot really figure out what the "best data" looks like.