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  • #2,521
  • Jun 3, 2022 6:40am Jun 3, 2022 6:40am
Important Zones for Gold before NFP release...
1855-1856 - Support Expected
1845-1847 - Major Support
1835-1836 - Another Important Support
1831-1832 - Strong Support.
  • #2,522
  • Jun 3, 2022 6:50am Jun 3, 2022 6:50am
Quoting MrAndrew
Gold trading lower at $1865 ahead of London Open. An increased Bullish Liquidity from retailers may trigger it further down... However, Silver is still maintaining its Bullish Path. Looking forward to major economic releases US ISM PMI & NFP reports.
I predict choppy price action and then a push higher to 1885 or even 1900 this week or next. I then expect more chop until the CPI report next week, where it could dump if inflation is too high.

I also think that Gold will range between 1800 and 1900 during the next two weeks.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,523
  • Jun 3, 2022 7:32am Jun 3, 2022 7:32am
Quoting ForexGoose
{quote} I predict choppy price action and then a push higher to 1885 or even 1900 this week or next. I then expect more chop until the CPI report next week, where it could dump if inflation is too high. I also think that Gold will range between 1800 and 1900 during the next two weeks.
I see this consolidation same as the consolidation form 2009 April - May after the Global Financial Crisis.
Same occurred on 2013 January before extending its decline to 33 - 34 % in Dec 2015.
In both of the previous examples i.e. 2009 & 2015 FED was into Quantitative Easing...
BUT now as the FED is currently initiating a new round of rising Interest Rates to punch Inflation which have changed Gold the behavior of Gold Significantly.
So I think Gold can be SIDEWAYS atleast for the NEXT 5 or 6 Weeks....
BUT for the entire year I think it will be BULLISH.
  • #2,524
  • Jun 3, 2022 7:33am Jun 3, 2022 7:33am
This could make Gold bullish today. Wage inflation isn't that big on this report.

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Biden is also scheduled to speak today about the jobs report.

Inserted Video
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,525
  • Jun 3, 2022 7:38am Jun 3, 2022 7:38am
Quoting PatienceFx
i just got up one fine moprning and took this trade randomly now i realize i made one beautiful blunder, trying to trade gold below yesterday high 1870 lol {image}
how did it work out for you? good luck
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,526
  • Jun 3, 2022 7:41am Jun 3, 2022 7:41am
If life was a dream...
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,527
  • Jun 3, 2022 7:43am Jun 3, 2022 7:43am
Quoting ForexGoose
{quote} how did it work out for you? good luck
i got out immediately , blunders are best avoided

got my stuff from nfp
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  • #2,528
  • Jun 3, 2022 8:19am Jun 3, 2022 8:19am
sold from 1860, stop loss is 1864, target 1850 and below

the last CPI report produced a spike to the 1860 level
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,529
  • Jun 3, 2022 10:29am Jun 3, 2022 10:29am
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"Exchange of hands"
  • #2,530
  • Jun 3, 2022 11:12am Jun 3, 2022 11:12am
1841 could be the final target for today

next week could be a big bear week for Gold, if there is a daily close under 1841 (200 DMA)
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,531
  • Jun 3, 2022 1:38pm Jun 3, 2022 1:38pm
https://www.cnbc.com/2022/06/03/feds...re-needed.html

Quote
Cleveland Fed President Loretta Mester said Friday that she doesn’t see enough evidence that inflation has peaked and is on board with multiple interest rate increases in coming months.
She also doesn’t expect the central bank to pause after multiple 50 basis point increases this summer, though she said the magnitude of the moves could be reduced if inflation falls.

Gold will probably go to 1800 and below by the Fall.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,532
  • Jun 3, 2022 3:28pm Jun 3, 2022 3:28pm
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Love for all; Hatred for none.
  • #2,533
  • Jun 4, 2022 3:54am Jun 4, 2022 3:54am
Gold Weekly Update 04 June 2022

Even if the Gold has stayed above $1850 it is still struggling to find Bullish momentum ahead.
Fundamentally the Gold is stuck between the raising rates Interest from FED and the Inflation.
Thus, the Technical outlook for the Gold is Clear but the Fundamental prospective still remains questionable.
However, the increasing Interest in the yellow metal has caused the volatility to increase.

Few points affecting the Gold:

  1. FED Hikes cycles at the beginning causes more interest and can bring volatility in Gold.
  2. Geopolitical risks, Russia - Ukraine War, COVID-19 and the Inflation data can add Bullishness in Gold.
  3. Big Buyers still consider Gold as a Long Term holding asset.

Coming to the sentiment, the Average Institutional Sentiment still remains SIDEWAYS as usual for the previous week as compared to the Average Retail Sentiment which was highly Bullish.

Average Institutional Sentiment For Previous Week (30 May - 03 June 2022)**

  1. Longs : 54%
  2. Shorts : 46%

Average Retail Sentiment For Previous Week (30 May - 03 June 2022)**

  1. Longs : 72%
  2. Shorts : 28%


** The Sentimental Data provided is NOT 100% accurate. As Gold being a decentralized market the Sentimental Data provided here does not cover the entire market. Actual figures may vary.

  • #2,534
  • Jun 5, 2022 1:50am Jun 5, 2022 1:50am
top ranging in the correction likely continue , watching for 1836/ till 28 for up 1889/1901 and on the downside 1795 areas likely correct for further try bull towards 1950 in the medium term price likely fall to 1694 by around 4 months time , now ! first test 1836/ 28 to see what reaction. take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #2,535
  • Jun 5, 2022 11:50am Jun 5, 2022 11:50am
I going long for gold on tomorrow as the price fail to break the significant Support/Resistance and If price breakout at level 1850. My target is at 1862. This just my analysis. lets see what price will make tomorrow.
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  • #2,536
  • Jun 5, 2022 3:15pm Jun 5, 2022 3:15pm
Quoting MrAndrew
Gold Weekly Update 04 June 2022 Even if the Gold has stayed above $1850 it is still struggling to find Bullish momentum ahead. Fundamentally the Gold is stuck between the raising rates Interest from FED and the Inflation. Thus, the Technical outlook for the Gold is Clear but the Fundamental prospective still remains questionable. However, the increasing Interest in the yellow metal has caused the volatility to increase. Few points affecting the Gold: FED Hikes cycles at the beginning causes more interest and can bring volatility in Gold. Geopolitical...
it looks like the retail traders will be squeezed if they are mostly short Gold since the big players can manipulate the price
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,537
  • Jun 5, 2022 10:38pm Jun 5, 2022 10:38pm
Gold Up by 0.25% ahead of Tokyo Open.
But still Bullish momentum seems to be weak...
Risks still exists on Buyers and Sellers Both.
More clear picture can be seen after London Open.
  • #2,538
  • Jun 5, 2022 10:42pm Jun 5, 2022 10:42pm
Quoting ForexGoose
{quote} it looks like the retail traders will be squeezed if they are mostly short Gold since the big players can manipulate the price
Yes, Mondays mostly volatile and unpredicted as most of the Institutions give a head-start for the ongoing week.
Wish you make good profits today!
  • #2,539
  • Jun 6, 2022 5:52am Jun 6, 2022 5:52am
Ahead of London Open Gold is SIDEWAYS due to the Low Volatility and mixed sentiment from the Retail traders.
Risk still continues to exist on Buyers and Sellers both.

Central Bank Updates:
Czech National Bank plans to increase its Gold holdings from 11 Tonnes to 100 Tonnes or more gradually in the upcoming times.
With this plan the Bank's Gold Holdings will grow almost Ten Times.
  • #2,540
  • Jun 6, 2022 7:10am Jun 6, 2022 7:10am
sold from 1855, stop loss is above 1860, target is 1841 and below
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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