The value of gold plays with $2,300 mark on declining secure-haven desire with lower US Fed rate drop forecasts.
Gold (XAUUSD) Highlights
The value of gold falls to $2309.35, down 0.63% of the as global tensions ease and the US dollar strengthens.
The interest rates in the US stay elevated, diminishing the attraction of zero-yielding commodities such as gold.
Economic information released today may affect US Fed rate choices, which could impact the value of gold trend.
The market Snapshot
The prices for gold fell during Today, following its downward movement initiated the day before. Gold fell 0.63 percent, reaching $2309.35 / Oz. This dip represents a huge drop from the April peaks of over $2,430 / Oz, showing a major reduction in market stress.
Gold Fundamental Review
During the first hour of the European trade on Tue, the price of gold maintained their offering pitch. At lowest point in a span of 2-weeks. But managed to keep its head over its median number of $2,300/ Oz. Following the recent strike on US troops in the Middle East. The chances that an Iran & Israel confrontation would not escalate added to a broadly bullish risky mood. Aside from this, rising consensus the US Fed would maintain rates elevated for a while due to persistent price increases. With a strong economy reduces desire for yellow gold.
Technical Analysis
Presently gold fell 0.63 percent to $2309.35 mark. The gold price fell under its crucial mark of $2324.86. Which is now trading beneath the 50 D-(EMA) at $2355.13 mark. Signifying a downward trend. Should price persists beneath this point, it could reaffirm the sell-off pattern. Which is illustrated by the latest negative crossover formed by the 50 D- EMA.
Important levels of resistance include $2359.41, $2403.97, & $2431.99. That may hinder any possible higher momentum. Supporting appear around $2264.52, $2210.31, then $2156.07 mark, showing potential stabilization regions if falls persist.
In summary, Gold’s analytical prognosis stays negative under the pivotal value of $2324.85 mark. A rise over this barrier may shift investor attitudes towards a more positive slant.
Technical Indicators & Signals
| Name | Value | Action |
| RSI(14) | 29.483 | Sell |
| STOCH(9,6) | 29.619 | Sell |
| STOCHRSI(14) | 67.188 | Buy |
| MACD(12,26) | -15.870 | Sell |
| ADX(14) | 30.273 | Sell |
| Williams %R | -85.064 | Oversold* Caution |
| CCI(14) | -101.8594 | Sell |
| ATR(14) | 9.8250 | High Volatility |
| Highs/Lows(14) | -11.6180 | Sell |
| Ultimate Oscillator | 39.276 | Sell*Caution (Oversold) |
| ROC | -1.366 | Sell |
| Bull/Bear Power(13) | -27.6180 | Sell |
Daily Key Pivots
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 2305.70 | 2310.55 | 2313.50 | 2318.35 | 2321.30 | 2326.15 | 2329.10 |
| Fibonacci | 2310.55 | 2313.53 | 2315.37 | 2318.35 | 2321.33 | 2323.17 | 2326.15 |
| Camarilla | 2314.30 | 2315.02 | 2315.73 | 2318.35 | 2317.16 | 2317.88 | 2318.59 |
| Woodie’s | 2304.74 | 2310.07 | 2312.54 | 2317.87 | 2320.34 | 2325.67 | 2328.14 |
| DeMark’s | – | – | 2312.03 | 2317.61 | 2319.83 | – |
