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- jiddifx replied Mar 12, 2024
This is just my perspective, so please carefully monitor your charts and trust your own trading strategy. Remember, trade safely and at your own risk.
- jiddifx replied Mar 12, 2024
On the fundamental side, things are also looking up for gold. Fed Chair Jerome Powell has set a pretty achievable condition for rate cuts later this year, just needing to confirm that inflation is decreasing. The upcoming CPI report today, ...
- jiddifx replied Mar 12, 2024
Gold, it's been in overbought territory for quite some time according to the 4-hour RSI, and it seems poised for its next big move. The key resistance levels to watch are at $2,195, then $2,205 and $2,212. These are based on the Fibonacci 138.2% and ...
- jiddifx replied Mar 11, 2024
Given XAU/USD's recent highs, trend followers are now eyeing a correction and a potential buying opportunity, expecting further record highs. The Relative Strength Index (RSI) shows overbought conditions, suggesting the market might be due for a ...
- jiddifx replied Mar 11, 2024
It's just personal Openion
- jiddifx replied Mar 11, 2024
I think XAU/USD is pretty overbought right now. It's been on an upward streak for eight days straight. Given this, it might be wise to think about the possibility of some sideways movement or even a bit of a pullback in the market at this stage.
- jiddifx replied Mar 7, 2024
About tomorrows NFP… Nonfarm Payrolls for February, is anticipated to show a 200,000 increase. This report is significant as it could notably influence the price of gold. Historically, gold tends to react more to a jobs report that falls short of ...
- jiddifx replied Mar 7, 2024
It's quite possible that gold is currently overvalued. It's seen an almost 6% increase in just a week, so thinking about a potential correction might be wise.
- jiddifx replied Mar 7, 2024
Absolutely, the market is always full of surprises. Predicting it is tricky because anything could happen at any moment. The whole point of the market is to bring together buyers and sellers, and they're everywhere with their orders. We might notice ...
- jiddifx replied Mar 7, 2024
Powell's hinting at a possible rate cut later this year, but it's all hinging on how the economy's doing. Basically, if the economy starts picking up, they might ease up on the interest rates. But here's the thing: just because they're thinking of ...
- jiddifx replied Mar 6, 2024
Please comment on this…
- jiddifx replied Mar 6, 2024
They spoke well about the economy, spurring some risk appetite, but I believe at some point he will speak about monetary policy and there are plenty of reasons to sound hawkish.
- jiddifx replied Mar 6, 2024
this much I understand sir, still discussion is going on. thanks
- jiddifx replied Mar 6, 2024
But wait, there’s more. The report talks about how the stock market’s having its ups and downs and how there’s a bit of risk floating around. When things get shaky like this, people often run to gold as their safe space. It’s like the financial ...
- jiddifx replied Mar 6, 2024
On the other hand, the report’s giving us mixed signals. It’s like, yes, the government’s in deep debt, but hey, the economy’s picking up and local governments are doing alright financially. So, the big picture seems kind of stable.
- jiddifx replied Mar 6, 2024
the Fed’s cranking up the interest rates again. This means the cost to borrow money is going up, and that’s pushing up what the government pays for borrowing too, we know, the Treasury yields. Here’s the catch: when interest rates go up, usually the ...
- jiddifx replied Mar 6, 2024
as a gold trader, staying informed about the Federal Reserve’s policies and outlook can give us edge in understanding potential market movements and planning your trading strategies accordingly.
- jiddifx replied Mar 6, 2024
The Federal Reserve’s Semi-Annual Monetary Policy Report video
- jiddifx replied Mar 6, 2024
NEW HIGH