EUR/USD 1.14275
-0.074%
Gold 4150.23
-0.588%
Oil 69.108
0.563%
USD/JPY 162.074
0.443%
GBP/USD 1.33390
-0.100%
GBP/JPY 216.195
0.342%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian Air Force: Russia launched 68 missiles and 351 drones at Ukraine overnight.On July 6th, Jeff, senior macro strategist at BNY Mellon, pointed out that weaker U.S. labor market data and improved inflation data have reduced the urgency for further tightening by the Federal Reserve, but this does not address whether the slowdown in growth is under control or whether policy expectations have been over-adjusted. He stated, "The global narrative is becoming less unified." In the U.S., the question is whether the Fed can remain patient if inflation risks do not re-emerge; while in Europe, the focus is shifting from emergency inflation management to issues such as economic growth, fiscal credibility, and defense financing.Jefferies: Lowered its price target for Newmont Mining (NEM.N) from $158 to $146.On July 6th, according to Qichacha APP, Jiangxi Beiqi Changhe Automobile Co., Ltd. was recently established. The legal representative is Zhu Youfu, and the registered capital is 100 million yuan. Its business scope includes: automobile sales, sales of new energy vehicles, marketing planning, research and development of auto parts, and manufacturing of auto parts and accessories. Qichachas equity penetration analysis shows that the company is wholly owned by Beijing Automotive Group Co., Ltd.July 6 - Analog Devices (ADI), a major analog chip manufacturer, recently issued another notice to its customers, stating that rising demand has led to tight supply, with lead times for some products reaching up to six months. If customers fail to place orders six months in advance, they may face even longer delivery times in the future.

Gold Price Forecast – Gold Markets Give Up Early Gain Yet Again

Alice Wang

Feb 09, 2023 16:01

market technical  analysis for gold

Similar to Monday and Tuesday, Wednesday's trading session saw an early increase in gold prices. There has been a lot of selling pressure, similar to those two days, which suggests that gold may still be seeking for a reason to decrease. The possibility that we may go to the 200-Day EMA, which is located just below the 50-Day EMA, does make some sense if we can break down below the 50-Day EMA. Nearly $1800 is a huge, round sum with psychological meaning and a point where there has historically been a lot of controversy.


If we surpass the peaks of the previous three candles, the market may move swiftly in the direction of $1950. I think it would need a decline in the value of the US dollar, but I also think that over time, both the USD and gold would climb. As things are right now, it would be difficult to see an external stimulus for this market to become too optimistic; thus, I think that at best, we will likely consolidate.


Given that the two previous enormous candles were both red and that they often don't happen in a vacuum, we will need to keep a careful eye on the situation. However, if the sellers can simplify things, we may see a greater flush down. A break over these hammers would thus be a stunning display of power. I believe that we are getting ready for a bigger transition.

Suggestion