GOLD MARKET ANALYSIS AND COMMENTARY - [Sep 23 - Sep 27]

This week, after opening at 2,579 USD/oz, the international gold price dropped to 2,546 USD/oz, but then continuously increased sharply beyond the threshold of 2,600 USD/oz to 2,625 USD/oz and closed the week. at 2,622 USD/oz.

International gold prices increased sharply because the FED cut interest rates by up to 50 basis points and signaled that it would further cut interest rates by about 200 basis points in the next 2 years. FED Chairman Powell said the FED will not rush to sharply loosen monetary policy and noted that the FED is currently in the process of readjusting its monetary policy.

Mr. Powell's comments show that the FED will not be too hasty in cutting interest rates, but will adjust monetary policy according to a specific roadmap. This may somewhat cause confusion among investors, causing them to take profits from gold investments that have yielded large profits, causing gold prices to adjust and accumulate in the short term. However, with the FED's roadmap to cut interest rates, gold prices are expected to continue to increase sharply in the near future.

GOLD surpassed the 2,600 USD/oz mark


📌Technical analysis indicators, such as MACD, RSI... are showing that gold price is in the overbought zone in the short term. However, the upward momentum of gold prices is still there, with no signs of reversal. The attractive area for gold prices seems to be the round block of 3,000 USD/oz, corresponding to the Fibo level of 261.8 calculated according to the Weekly chart.
From a narrower perspective, looking at the H4 chart, in the immediate future, the gold price may continue to maintain its upward momentum to conquer the next resistance level around 2,690 - 2,700 USD/oz, before decreasing and adjusting again.

Notable technical levels are listed below.
Support: 2.595 – 2.600 – 2.610USD
Resistance: 2.645 – 2.624USD


SELL XAUUSD PRICE 2691 - 2689⚡️
↠↠ Stoploss 2695

BUY XAUUSD PRICE 2519 - 2521⚡️
↠↠ Stoploss 2515
Catatan
Today's world gold price is listed on Kitco at 2,619 USD/ounce, down 3 USD/ounce compared to early yesterday morning.

Gold prices decreased slightly but still remained above the highest level in history after the US Federal Reserve (Fed) lowered interest rates by 0.5%.
Catatan
GOLD is still looking for new peaks, PCE is the focus this week
Catatan
On the daily chart, gold prices appear ready for a correction, as the 14-day RSI is in overbought territory, currently near 72. The nearest resistance for gold lies at $2,650, breaking out to At this level XAU/USD could then aim for the $2,700 threshold for the first time in history.
Catatan
The DXY index has fallen about 0.4% from its session high, currently trading around 100.80 after Chicago Fed President Austan Goolsbee said the Fed may need to cut interest rates further next year. The DXY index has retraced most of its gain during the session.
Catatan
Gold prices rose to an all-time high on Monday (September 23), thanks to optimistic market sentiment after the US Federal Reserve (Fed) lowered interest rates last week combined with geopolitical tensions. value has boosted gold prices despite a stronger USD.
Catatan
The Fed's rate cut last week left many people wondering what this means for mortgage rates. Housing website Redfin notes that some potential homebuyers are unaware that mortgage rates have plummeted, while others are still waiting for the data to drop further.
Catatan
Gold prices rose 1% to a record high on Tuesday, continuing recent gains as tensions in the Middle East boosted the safe-haven appeal, while investors eyed the latest trends. New signals about interest rate cuts in the US.
Catatan
- XAUUSD hits another record high, continuing its upward momentum and approaching the psychological resistance of $2,700/ounce.
- If XAUUSD continues to rise, the price could test the next psychological resistance level at 2,700 USD/ounce.
Catatan
The dollar steadied during the European session on Wednesday after falling against most major Asian currencies, such as the Yuan (CNY) or Rupee (INR). The change comes after investors shifted from the United States to investing in Chinese stocks. The move was prompted by a major stimulus plan from the Chinese government rolled out on Tuesday.
Catatan
World gold prices showed a sluggish rise at the historic peak during the trading session on Wednesday (September 25), when some investors began to realize profits. However, the price of this precious metal continues to be supported by the possibility that the US Federal Reserve (Fed) will continue to sharply reduce interest rates in the next meeting.
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