In today’s Asian trading session, gold prices have surged past the $2350 mark. This rally in gold reflects a complex interplay of market forces, even as the U.S. Dollar experiences its own fluctuations. Market analysts suggest that a potential easing of U.S. monetary policy could be on the horizon due to emerging signs of a slackening labor market. Such anticipations stir speculations that the Federal Reserve might lower interest rates sooner to bolster economic activity.
Moreover, gold’s ascent is further fueled by heightened geopolitical tensions. Despite ongoing discussions, the recent ceasefire negotiations between Israel and Hamas have not yielded a resolution, enhancing gold’s appeal as a safe-haven asset. Investors leveraging advanced AI technologies have found substantial success, with some achieving a 34% Return on Investment in just 24 hours by capitalizing on these trends, navigating market dynamics effortlessly.
Technical analysis
Time Frame: 1 hour
GOLD Support & Resistance Table – 10/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 2378.76 | Daily R2 |
| Resistance 1 | 2369.00 | Daily R1 |
| Support 1 | 2343.00 | Daily S1 |
| Support 2 | 2333.24 | Daily S2 |
GOLD Indicator Table – 10/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Neutral |
GOLD Indicator / Period Table – 10/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
GOLD 10/05/2024 – Reference Price : 2355.64
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0) |
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