DOWN trend starts - break zone sideway - XAU

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XAU / USD trend forecast December 6, 2024

Gold prices declined on Thursday as investors analyzed the latest US jobless claims data ahead of November's Nonfarm Payrolls release. Rising US Treasury bond yields pressured the yellow metal, which fell by 0.85% to trade near $2,626.

The XAU/USD weakened as higher bond yields reduced the appeal of the non-yielding asset, while traders scaled back expectations for a 25 basis point (bps) rate cut by the Federal Reserve (Fed) in December. However, mixed US employment data released earlier in the week maintained uncertainty about the Fed's upcoming monetary policy decision.

Gold price breaks sideway zone 2645 - moving in a downtrend. NF today will decide gold price below 2600

/// SELL XAU : zone 2627-2630

SL: 2635

TP: 50 - 150 - 300pips (2600)


Safe and profitable trading

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تم فتح الصفقة

NF has not been able to help gold prices break out of the sideway zone - continuing long-term accumulation

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أغلقت الصفقة: تم الوصول للهدف

The beginning of December showed that there was great competition between buyers and sellers. Price continues sideways