Gold
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Gold: The Calm Before a Record Run
By Elliott Wave International The basis for analysis and forecasting at Elliott Wave International is fundamentally different from everyone else’s. Here’s a prime example in gold. This excerpt is from the March Elliott Wave Financial Forecast, when gold was trading below $2,050/oz. Gold’s three-month implied volatility has declined to its lowest level in over four years.…
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Gold at a Crossroads: Will XAU/USD Break Higher or Pull Back?
Current Situation Gold is testing a key resistance level at $2,484 per ounce. This level could determine the precious metal’s direction in the short term. Potential Bullish Scenario If gold breaks above $2,484, it could signal a continuation of the uptrend that began on October 6, 2023, at $1,810. Here’s what to watch for: What…
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Gold Price Analysis: Key Levels to Watch
On Wednesday, gold prices found support above 2378 and faced resistance below 2407. This indicates that, after a brief decline, gold may continue its upward trend. Key Levels to Watch Potential Scenarios Conclusion Gold is currently navigating between key support and resistance levels. Monitoring these levels—2374 and 2353 on the downside, and 2407 and 2425…
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Gold Price Analysis: Navigating Short-Term Fluctuations
Gold has shown price action recently, with support emerging at $2,369 during Monday’s dip and resistance encountered below $2,403 on the upside. This price behavior suggests that gold may maintain its upward trajectory despite short-term fluctuations. Current Market Dynamics The precious metal appears to be in a phase where it’s testing both support and resistance…
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Gold Price Analysis: Key Levels and Potential Movements
Recent movements in the gold market have caught the attention of traders and investors. Let’s break down the latest price action and explore potential scenarios for today’s trading. Recent Price Action Today’s Outlook If gold faces resistance below $2,433 today, we could see a downward movement targeting the $2,380 – $2,360 range. Key Levels to…
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Gold Prices in 2024: A Mid-Year Review and Future Outlook
The first half of 2024 has seen significant attention on precious metal prices, particularly gold. Let’s take a closer look at the current trends and what experts predict for the rest of the year. First Half Performance: These impressive gains have caught the eye of investors worldwide. As of June 28, 2024, gold prices stood…
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Gold (XAUUSD) Consolidates in Range, Uptrend Remains Intact
The precious metal Gold, represented by the XAU/USD pair, remains in an uptrend that commenced from the 1810 level. The recent pullback from the 2431 high is likely a consolidation phase within this broader uptrend. Over the next several weeks, the XAU/USD is expected to trade within a range, oscillating between the 2200 and 2431…