XAU - 13 December Gold price moves below 2723
تم تحديثه
XAU / USD trend forecast December 13, 2024
The Gold price (XAU/USD) regains some momentum, trading near $2,690 during Friday’s Asian session, after pulling back from a five-week high the day before. Market participants are now focusing on the upcoming US Federal Reserve (Fed) interest rate decision next week.
Support for gold may stem from central bank purchases, particularly by the People's Bank of China (PBoC). In November, the PBoC resumed gold acquisitions after a six-month pause, raising its reserves to 72.96 million fine troy ounces. This decision aligns with China's shift towards a more flexible monetary policy and a proactive fiscal strategy for 2024. Analysts at Goldman Sachs highlighted that the PBoC might further increase gold demand during periods of yuan weakness to bolster confidence in the local currency.
End of the week without any important news - gold price recovered positively, trading around the 2700 price zone
/// SELL XAU : zone 2703-2706
SL: 2711
TP: 50 - 150 - 300pips (2676)
Safe and profitable trading
The Gold price (XAU/USD) regains some momentum, trading near $2,690 during Friday’s Asian session, after pulling back from a five-week high the day before. Market participants are now focusing on the upcoming US Federal Reserve (Fed) interest rate decision next week.
Support for gold may stem from central bank purchases, particularly by the People's Bank of China (PBoC). In November, the PBoC resumed gold acquisitions after a six-month pause, raising its reserves to 72.96 million fine troy ounces. This decision aligns with China's shift towards a more flexible monetary policy and a proactive fiscal strategy for 2024. Analysts at Goldman Sachs highlighted that the PBoC might further increase gold demand during periods of yuan weakness to bolster confidence in the local currency.
End of the week without any important news - gold price recovered positively, trading around the 2700 price zone
/// SELL XAU : zone 2703-2706
SL: 2711
TP: 50 - 150 - 300pips (2676)
Safe and profitable trading
تم فتح الصفقة
Gold price correction continues to decrease at 2660أغلقت الصفقة: تم الوصول للهدف
The necessary correction XAU/USD. Gold price trades around 2660. Accumulating waiting for the results of interest rate cuts
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