Hello guys, discussion on XAUUSD

[Castrade]

Anyone here actively trade XAUUSD?
I want to discuss on this, maybe you guys can correct me if im wrong.
From what we can see is that the XAUUSD have reached its all time high after so long and currently at the peak at its Resistance. I'm actually a swing trader and i hold my position for a period amount of time. is it safe to say that i can sell my position?

 

[Fin_Trader]

As it turned out, this was far from the peak for gold and the price went even higher, since in a period of geopolitical instability and various military conflicts on the planet, gold is the most liquid asset in which most large global investors invest, so the price did not take long to go higher.

 

[ah10a22]

Yes, I actively trade XAUUSD. It's a volatile pair, and reaching an all-time high and in my opinion it will reach 2500.

 

[Fin_Trader]

Yes, I actively trade XAUUSD. It's a volatile pair, and reaching an all-time high and in my opinion it will reach 2500.

Judging by the trend of this pair and the constant updating of historical maximums, I think that in the near future it will be able to reach the mark of 3000.

 

[Fxzombie]

XAUUSD price volatility is high, in my view gold is still an option as a safe-haven asset amidst concerns about inflation due to the possibility of a trade war due to Trump's tariff policy in the long term.

 

[Fxzombie]

After several days of consolidation and gold drawing a new all time high of 2956, gold failed to extend gains and plunged yesterday to a low of 2888 and closed at 2914.

 

[Fxzombie]

Yesterday, gold received a positive sentiment due to the weakening USD; the dollar index fell to a low of 105,526, and gold reached a high of 2927. Today, there is important news from the ADP report that may influence the market.

 

[Fxzombie]

Yesterday's ADP report was much lower than expected, and the US dollar weakened against other major currencies, but this did not cause much of a spike in demand for gold. Now the price of gold is around 2916, still above the 2900 range.

 

[Fxzombie]

Today, we are waiting for the release of CPI data that may affect gold in the short term. The price is now at 2915, the increase is somewhat fading, as seen from the hourly chart. RSI is at level 58 with a curved channel to the downside.

 

[Fxzombie]

Yesterday's US inflation data showed the US Bureau of Labor Statistics reported that the headline Consumer Price Index slowed sharply to 2.8% year-over-year from an estimated 2.9% from a previously revised 3.0%. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in February, after rising 0.5 percent in January. The index for all goods except food and energy increased 0.2 percent in February, following a 0.4 percent increase in January. This inflation data has given hope to the Fed that it may cut interest rates in May. Gold is now trading at 2940 with potential for further upside awaiting today's PPI data.

 

[Fxzombie]

Gold prices surged yesterday after successfully breaking 2930. Gold prices again set a new all-time high record at 2989, which may look like a target 3000. Trump's tariffs, which brought fear of uncertainty seemed to provide a boost to demand for safe-haven assets such as Gold, Silver, Japanese yen, and Swiss Franc.

 

[Fxzombie]

Ahead of the FED meeting, gold prices are currently hovering around $3,001, waiting for momentum. The Fed is not expected to cut rates at its meeting tomorrow.

 

[Fxzombie]

Gold prices are soaring again, recording a new all-time high of 3038, the increase in gold prices indicates an increase in demand for safe-haven assets amid fears of a US recession due to Trump's policy on import tariffs on some countries that are suspected of causing inflation. In addition, the geopolitical risk of the Israel-Hamas war has not ended after the failure of the ceasefire. On the other hand, the US attacking the Houthis also adds to the long list of wars that may take place.

 

[Fxzombie]

The gold bull run continues, today gold again recorded a new all-time high at 3055 even though the RSI has indicated that the price is overbought at 74, but it seems that the demand for gold has not stopped. Yesterday the Fed kept interest rates unchanged, but the gold price rate was not much affected, perhaps due to geopolitical risks and trade wars that triggered economic uncertainty that encouraged investors to choose gold as a safe-haven asset.

 

[Fxzombie]

Yesterday, gold price again recorded a new all-time high at 3057 from the previous 3052. However, the price closed lower at 3044, and It drew a Bearish candle with a small body and rather long shadows on the top and bottom of the candle. Geopolitical risks and global economic uncertainty due to Trump's policies seem to still be the reason for the demand for safe-haven assets such as gold.