XAUUSD - Trading strategy according to the news on August 29
World gold price this morning increased slightly with spot gold up 4.3 USD, up 1,919.8 USD/ounce. December gold futures last traded at $1,948 an ounce, up $1.20 from a bright level.
Gold can be modestly strengthened in the evening session on August 28 (Vietnam time) thanks to the weakening of the USD. This morning, the US Dollar Index, which measures the volatility of the greenback, fell 104 points, increasing the attractiveness of gold for buyers holding other currencies.
The new report here shows that households are stepping up the liquidation of their gold-priced accounts and increasing short positions as the US Federal Reserve (Fed) is expected to maintain maintain the "hawk" trend and raise interest rates at high levels in the near future.
The report for the weekend ending on August 22 showed that total long positions on the basis of Comex gold futures contract increased by VND 8,061 to 105,085. Meanwhile, the number of selling positions increased by 12,366 dong to 95,976.
Although the initial base gain has dropped to the medium settings, the price has managed to maintain key support levels. According to some analysts, this resilience shows the strength of gold and that is a good sign.
Gold can be modestly strengthened in the evening session on August 28 (Vietnam time) thanks to the weakening of the USD. This morning, the US Dollar Index, which measures the volatility of the greenback, fell 104 points, increasing the attractiveness of gold for buyers holding other currencies.
The new report here shows that households are stepping up the liquidation of their gold-priced accounts and increasing short positions as the US Federal Reserve (Fed) is expected to maintain maintain the "hawk" trend and raise interest rates at high levels in the near future.
The report for the weekend ending on August 22 showed that total long positions on the basis of Comex gold futures contract increased by VND 8,061 to 105,085. Meanwhile, the number of selling positions increased by 12,366 dong to 95,976.
Although the initial base gain has dropped to the medium settings, the price has managed to maintain key support levels. According to some analysts, this resilience shows the strength of gold and that is a good sign.
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about XAUUSD
✔️ TP1: 1921
✔️ TP2: 1926
🚫 SL: 1905