Confirming you are not from the U.S. or the Philippines

Dengan memberikan pernyataan ini, saya mengaku dan mengesahkan bahawa:
  • Saya bukan seorang warganegara atau pemastautin A.S.
  • Saya bukan warga Filipina
  • Saya tidak memiliki secara langsung atau tidak langsung lebih daripada 10% saham/hak mengundi/faedah pemastautin A.S. dan/atau di bawah kawalan warganegara atau pemastautin A.S. yang dilaksanakan dengan cara lain
  • Saya tidak berada di bawah pemilikan langsung atau tidak langsung lebih daripada 10% saham/hak mengundi/faedah dan/atau di bawah kawalan warganegara atau pemastautin A.S. yang dilaksanakan dengan cara lain
  • Saya tidak berafiliasi dengan warganegara atau pemastautin A.S. dalam terma Bahagian 1504(a) FATCA
  • Saya menyedari akan liabiliti saya kerana membuat pengakuan palsu.
Untuk tujuan pernyataan ini, semua negara dan wilayah bergantung A.S. adalah sama dengan wilayah utama A.S. Saya memberi komitmen untuk mempertahan dan tidak mempertanggungjawabkan Octa Markets Incorporates, pengarah dan pegawainya terhadap sebarang sebarang tuntutan yang timbul dari atau berkaitan dengan sebarang pelanggaran pernyataan saya ini.
Kami berdedikasi terhadap privasi anda dan keselamatan maklumat peribadi anda. Kami hanya mengumpul e-mel untuk memberi tawaran istimewa dan maklumat penting tentang produk dan perkhidmatan kami. Dengan memberikan alamat e-mel anda, anda bersetuju untuk menerima surat sedemikian daripada kami. Jika anda ingin berhenti melanggan atau ada sebarang soalan atau masalah, tulis kepada Sokongan Pelanggan kami.
Octa trading broker
Buka akaun dagangan
Back

Gold Price Forecast: XAU/USD leaps high amid dovish Fed bets, US yields hit multi-month lows

  • The XAU/USD trades closely to the $2,070 level, registering strong gains.
  • Markets project as many as six Fed rate hikes in 2024,  which shook down the US Treasury yields.
  • US Jobless Claims on Thursday may fuel volatility in the bond market.

In Wednesday's session, the XAU/USD Gold Spot price jumped towards $2,070, marking a 0.50% gain. This essentially was in response to growing speculation of dovish bets towards the Federal Reserve (Fed), coupled with yields seemingly stuck in multi-month lows, which favored the yellow's metal advance.

With the US Personal Consumption Expenditures (PCE) price index seeing a sizeable drop in November, optimism is growing for potential initial rate cuts from the Federal Reserve at the beginning of next year. This also comes after consecutive decelerating Consumer Price Index (CPI) readings alongside the Fed officials forecasting 75 bps of easing in 2024, which applied pressure to the US Dollar and the US bond yields. According to the CME FedWatch Tool, markets place bets on 15% odds of a cut in January and are pricing in 50 bps of easing between March and May.

In line with that, US bond yields are declining and reached multi-month lows. The 2-year rate is 4.23% (low since May), while the 5 and 10-year yields are trading at 3.78% each, their lowest since June and July, respectively. This downturn positively affects the price of non-yielding metals, as bond yields are often viewed as the opportunity cost of holding them.

On Thursday, the US will report weekly Jobless Claims figures, which may fuel volatility in the USD and bond market price dynamics.

XAU/USD levels to watch

The daily chart hints that the metal is exhibiting a bullish inclination. The Relative Strength Index (RSI) is approaching overbought territory which typically signifies a strong buying momentum, but also caution as it may also indicate potential short-term- trend reversal if the index crosses into the overbought region.

Further evidence of bullish sentiment is shown in the Moving Average Convergence Divergence (MACD) indicator. The presence of rising green bars signifies increased buyer enthusiasm, potentially paving the way for a continuation of the uptrend.

Providing a broader picture, the metal's position above the 20, 100, and 200-day Simple Moving Averages (SMAs) confirms the dominance of the buyers in the overall trend. Being above these SMA levels typically suggests a bullish market environment.


Support Levels: $2,060, $2,050, $2,030 (20-day SMA).
Resistance Levels: $2,081, $2,100, $2,115.


XAU/USD daily chart

 

 

GBP/USD pinned near 1.2800 as markets head into 2024

The GBP/USD climbed higher on Wednesday as broad-market risk appetite pushed the US Dollar (USD) into the floorboards, bolstering the Pound Sterling (GBP).
Baca lagi Previous

United States API Weekly Crude Oil Stock climbed from previous 0.939M to 1.837M in December 22

United States API Weekly Crude Oil Stock climbed from previous 0.939M to 1.837M in December 22
Baca lagi Next