[wfakhoury Amman]

Gold is in a buy mood to reach 2161.70, as confirmed.
2154.80 is the consolidation level; buy below it, sell above it, and tp at it.

[SF Monedge]

My overall sense is a bit like this – US tech stocks suffered the largest outflow on record in the week ending March 8 2024.  Virtual confirmation that the Fed will drop govt lending rates in June, which speaks of a moderately slowing economy and inflation cooling due to demand slowing up.  Demand for labor is slowing as well.  Portfolio flows are reducing risk appetite and re-allocating into money market funds, gold, and other assets, including crypto and foreign exchange, so the areas where risk appetite is strong is adjusting gradually…economy should cool a bit in spots coming up.

[SF Monedge]

There is not point in trading Yen today if you missed the sell.  Gold is strong and so intently focused on Aud.  With the weight of data today, although the spreads are wide, preference for the day is GbpChf and UsdChf.  If intent on trading Eur (soviet pair) suggest using buy and/or sell stops and lock in fast.

[GVI Forex 2]

WFakhoury

I am curious how one trades your signals

Let’s say in Gold

All 1 hour candles with the 2124 example

It closes at 2125 and you buy

it goes to 2225.80 and then reversed to close the hour at 2123.80

Do you stop and reverse?

[wfakhoury Amman]

Gold reached 2142 and returned to 2124 as per my signal

[SF Monedge]

Gold just hit a record.  Risk aversion is present.

[GVI Forex 2]

BTC MOnthly Chart

BTC (Bitcoin) relentless rise is now within spitting distance of its 68861 record high

THE SHARP MOVES UP IN GOLD AND BTC WHILE THE FOREX MARKET IS ON THE SIDELINES IS NOT A VOTE FOR FIAT CURRENCIES.

With that said, it is hard to suggest trading BTC from here as there should be no interest in standing in front of the BulletTrain but now dependent on the record high being taken out to move even higher.

[GVI Forex 2]

Thanks for this post by SF Monege. I just saw it on cable news so it is getting attention.

The U.S. national debt is rising by $1 trillion every 100 days,” Michael Hartnett, chief strategist of Bank of America, wrote in a note to clients seen by CNBC, adding it’s “little wonder ‘debt debasement’ trades closing in on all-time highs, i.e. gold [at] $2077/oz.

[SF Monedge]

“The U.S. national debt is rising by $1 trillion every 100 days,” Michael Hartnett, chief strategist of Bank of America, wrote in a note to clients seen by CNBC, adding it’s “little wonder ‘debt debasement’ trades closing in on all-time highs, i.e. gold [at] $2077/oz.

[Mtl JP]

SF / Tyler has what I think is a good question: will The Fed start QE Reverse-Twist… and hike rates to tamp down a resurgent inflation thanks to animal spirits 2.0 prompted by their prior pivot?

[SF Monedge]

Gold is targeting 2030 and Aud/Usd is moving in tandem.  We like testing the buy side of Aud from the 6530/35 area if seen just for today.

[Belgrade Bobby]

NVIDIA – Whole planet talks about it….it is Viral…it is Hysterical

Even my wife asking about it ( and she couldn’t give a **** about it ) …my younger daughter asks about it ( at least she is just worried if the price for her next generation graphic card will go up )

Till yesterday it was Gold – half a planet bought it on the top….

Now the other half will buy NVIDIA stocks …on the top

Me….I don’t give a flying ****….EUR goes up, EUR goes down…that makes my day…

[Belgrade Bobby]

Gold

Resistance at 2050.00 and 2070.00

Supports at 1990.00 and 1900.00

There is a chance that 1990.00 might hold for another attempt for Highs, but overall pattern suggests that Gold is destined to go in a correction phase.

It is more likely that we’ll first see 1900.00 then new high.

For those that trade CFD’s this might be an opportunity to go Short.

 

[Mtl JP]

according to
Reuters
Marketmind: Markets wait on Nvidia, Fed minutes

according to
Bloomberg
Hedge Funds Cut Magnificent Seven in Last Quarter, Goldman Says

[SF Monedge]

Aud/Usd and Gold moving in tandem again as in prior sessions, this time it is a pivot breakout and so it has legs

[Mtl JP]

Rafe … Everyone’s trying to make it in the world
some are just better at it:
–
Goldman Sachs CEO Solomon gets 24% pay bump to $31 million
(Reuters) -Goldman Sachs CEO David Solomon was awarded $31 million in compensation for 2023, up 24% from $25 million in 2022, the company said

[SF Monedge]

Gold and Aud are both calm.  The market has no concern about the Houthis beating the US in a fist fight

[SF Monedge]

Our friends at Gtwo3 continue to notice a lack of new sellers in both Euro and Japanese Yen futures; therefore in their view the nearby contracts remain bullish.

They also note that the Gold futures dip under 2000 last week lacked new sellers, which likely kept the market bullish for now.

[Belgrade Bobby]

Gold

Looking as ready to fly again – Support at 1985.00 held its ground , and all eyes are targeting Resistance at 2018.00, followed by 2055.00, break of would lead the way to previous high at 2145.00.

Watch your 6 , as there is an abyss  bellow 1985.00 …

And for those that know:

Gold
Always believe in your soul
You’ve got the power to know
You’re indestructible
Always believe in, because you are
Gold
Glad that you’re bound to return
There’s something I could have learned
You’re indestructible, always believe in

Who doesn’t get it…don’t even ask….

 

[GVI Forex 2]

Gold: Is it still hot or not?

XAUUSD 1-hour chart

The CHart shows the former support at $2012 as initial resistance but…

The break of $2000 leaves this as the obvious bias setter going forward.