All-time high, GOLD prospects continue to increase
The market fluctuated wildly in the past week, 
XAUUSD skyrocketed from the week's low of 2,423USD to the weekend closing price of 2,508USD/oz and set a new all-time high. However, Iran could retaliate and attack Israel next week. Federal Reserve Chairman Powell's speech at the annual meeting in Jackson Hole is a market highlight that could once again cause volatility.
Next week, all eyes will be on the Federal Reserve symposium in Jackson Hole. The focus will be on Friday, when Powell gives a keynote speech on the economic outlook. First, they want confirmation that the Fed will cut interest rates in September. But as the Fed faces risks to both inflation and employment through recent macro data, the next move and the pace The next rate cut will become more complicated and of course this will bring even more intense fluctuations in the market in general and gold trading in particular.
The US economic calendar will not release any important data in the first half of next week.
Next Wednesday, the Federal Reserve will release the minutes of its July 30-31 meeting. At the post-meeting press conference, Fed Chairman Powell admitted there was “real discussion” about tapering interest rate at the July meeting.
Investors will pay attention to comments surrounding interest rate cut discussions. If the minutes show some policymakers favor a sudden rate cut in July, the USD could face fresh selling pressure and gold continues to be supported and pushed to renew levels. all time.
At the Jackson Hole meeting, even if Powell confirms a rate cut in September, it is unlikely to trigger a market reaction because such a decision is already fully priced in. In what could be a shock to markets, Powell will likely dismiss market expectations that the Fed could cut policy rates by 50 basis points at a future meeting, noting that they could will loosen policy at a steady pace. In this scenario, US Treasury bond yields could rise higher, putting gold prices under pressure to adjust in the short term.
Powell will likely use his speech in Jackson Hole to announce that the 'appropriate' time to cut interest rates is approaching.
With the support of the approaching interest rate cut environment and the increasingly complicated geopolitical developments and successive escalating moves, basically, the gold price is being absolutely supported by investors. increasing trend.
This has been mostly noticed by readers throughout the publications since the beginning of this year, all macro fundamentals will support gold to continue to increase in price, as it is a safe haven asset. leading in all cases of risk or monetary policy that does not support the USD.
![GOLD MARKET ANALYSIS AND COMMENTARY - [19 August - 23 August]](https://s3.tradingview.com/c/CI4BbkuT_mid.png)
Analysis of technical prospects forXAUUSD
With outstanding strength from all fundamental factors, gold's technical chart also has all the important conditions necessary for an upward price trend.
The main trend is highlighted by the price channel and support from EMA21, which was brought to your attention in recent publications. On the other hand, gold has rallied to break the plateau and stay above the $2,500 level after achieving last week's upside price target in the $2,500 - $2,505 area.
The fact that gold closed above the 0.786% Fibonacci extension allows gold to continue to increase in price towards $2,544 in the short term when the Relative Strength Index points up but has not yet reached the overbought level. shows that there is still wide room for price increases ahead.
However, in the current market context, traders must be ready for huge fluctuations, when gold can also face strong correction sessions with the nearest support being the The previous all-time peak was broken at 2,484 USD.
In the coming time, gold will continue to have the main trend of increasing prices with notable technical levels that will be listed as follows.
Support: 2,484 – 2,471USD
Resistance: 2,544USD
🪙SELL XAUUSD | 2541 - 2539
⚰️SL: 2545
⬆️TP1: 2534
⬆️TP2: 2529
🪙BUY XAUUSD | 2474 - 2476
⚰️SL: 2470
⬆️TP1: 2481
⬆️TP2: 2486
XAUUSD skyrocketed from the week's low of 2,423USD to the weekend closing price of 2,508USD/oz and set a new all-time high. However, Iran could retaliate and attack Israel next week. Federal Reserve Chairman Powell's speech at the annual meeting in Jackson Hole is a market highlight that could once again cause volatility.Next week, all eyes will be on the Federal Reserve symposium in Jackson Hole. The focus will be on Friday, when Powell gives a keynote speech on the economic outlook. First, they want confirmation that the Fed will cut interest rates in September. But as the Fed faces risks to both inflation and employment through recent macro data, the next move and the pace The next rate cut will become more complicated and of course this will bring even more intense fluctuations in the market in general and gold trading in particular.
The US economic calendar will not release any important data in the first half of next week.
Next Wednesday, the Federal Reserve will release the minutes of its July 30-31 meeting. At the post-meeting press conference, Fed Chairman Powell admitted there was “real discussion” about tapering interest rate at the July meeting.
Investors will pay attention to comments surrounding interest rate cut discussions. If the minutes show some policymakers favor a sudden rate cut in July, the USD could face fresh selling pressure and gold continues to be supported and pushed to renew levels. all time.
At the Jackson Hole meeting, even if Powell confirms a rate cut in September, it is unlikely to trigger a market reaction because such a decision is already fully priced in. In what could be a shock to markets, Powell will likely dismiss market expectations that the Fed could cut policy rates by 50 basis points at a future meeting, noting that they could will loosen policy at a steady pace. In this scenario, US Treasury bond yields could rise higher, putting gold prices under pressure to adjust in the short term.
Powell will likely use his speech in Jackson Hole to announce that the 'appropriate' time to cut interest rates is approaching.
With the support of the approaching interest rate cut environment and the increasingly complicated geopolitical developments and successive escalating moves, basically, the gold price is being absolutely supported by investors. increasing trend.
This has been mostly noticed by readers throughout the publications since the beginning of this year, all macro fundamentals will support gold to continue to increase in price, as it is a safe haven asset. leading in all cases of risk or monetary policy that does not support the USD.
Analysis of technical prospects for
XAUUSD With outstanding strength from all fundamental factors, gold's technical chart also has all the important conditions necessary for an upward price trend.
The main trend is highlighted by the price channel and support from EMA21, which was brought to your attention in recent publications. On the other hand, gold has rallied to break the plateau and stay above the $2,500 level after achieving last week's upside price target in the $2,500 - $2,505 area.
The fact that gold closed above the 0.786% Fibonacci extension allows gold to continue to increase in price towards $2,544 in the short term when the Relative Strength Index points up but has not yet reached the overbought level. shows that there is still wide room for price increases ahead.
However, in the current market context, traders must be ready for huge fluctuations, when gold can also face strong correction sessions with the nearest support being the The previous all-time peak was broken at 2,484 USD.
In the coming time, gold will continue to have the main trend of increasing prices with notable technical levels that will be listed as follows.
Support: 2,484 – 2,471USD
Resistance: 2,544USD
🪙SELL XAUUSD | 2541 - 2539
⚰️SL: 2545
⬆️TP1: 2534
⬆️TP2: 2529
🪙BUY XAUUSD | 2474 - 2476
⚰️SL: 2470
⬆️TP1: 2481
⬆️TP2: 2486
Catatan
World gold prices started the new trading week in a down state, after rising violently and surpassing the 2,500 USD/oz mark for the first time in history last Friday. Experts are optimistic about the prospect of higher gold prices, predicting that new records could be set this year and next.Catatan
Expectations of a big rate cut in September have begun to fade as recent economic downturns have shown that fears of a recession were just empty talk, but with the labor market now in the driver’s seat of monetary policy, the August jobs report has the potential to revive bets on a big rate cut in September.Catatan
- This week, market participants will focus on consumer inflation in the Eurozone, followed by S&P Global's US PMI releases, which could provide clear insights clearer to determine the trajectory of the ECB and US economic conditions.Catatan
World gold prices stabilized at the beginning of the week thanks to strong safe-haven demand and increasing expectations that the US Federal Reserve (Fed) would pivot its monetary policy.Catatan
Catatan
Traders in the interest rate futures market continue to set the possibility of a 100% rate cut by the Fed in the September test, which pegs a 0.25 percent rate cut at 65% and sets value for 0.5 point cent cent is 35%...Catatan
Today's economic calendar is quite exciting, opening in the European session with a series of preliminary PMI reports for August in Eurozone countries. Entering the US session, investors will focus their attention on weekly US PMI and unemployment data, after a sharp revision of employment statistics for the year to March this year from the BLS has been released. reinforcing expectations that the Fed will lower interest rates in September.Catatan
🟥FED MEMBER HARKER: INTEREST RATES MAY REACH THIS LEVEL BY THE END OF THE MONETARY EASING CYCLE!
Philadelphia Fed member Patrick Harker expressed his support for a gradual rate cut starting in September if economic data matches expectations during an interview with CNBC.
Catatan
World gold price this morning decreased by more than 27 USD, to the region of 2,486 USD/ounce. Precious metal prices fell sharply due to profit-taking pressure from investors. Domestic gold price stood still compared to yesterday.Catatan
Today's gold price on the international market is forecast to continue to increase as investors expect the FED to reduce interest rates and the USD will plummet.
At the end of the last trading week, the world gold price closed at 2,513 USD/ounce, an increase of 6 USD/ounce compared to last week. During the week, precious metals on the international exchange fluctuated very violently, reaching a new historic peak of over 2,530 USD/ounce, then plummeting to 2,470 USD/ounce under pressure from investors to take profits.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.