$Gold - Dec 2024(GC2412)$ π Gold Futures Outlook (28 Oct - 1 Nov 2024) π The Gold Futures market is set for a potentially eventful week, with key economic data and Federal Reserve decisions on the horizon. Hereβs what to watch: π Key Resistance at $2772.6 Gold closed last week near resistance at $2772.6. If we see a breakout above this level, it could spark fresh buying interest and push prices higher, potentially targeting the $2800 mark. However, failure to break this level might lead to consolidation, with the market testing support around $2740-$2750. π Fed Policy Meeting Impact The upcoming Federal Reserve policy meeting is expected to be a big market mover. If the Fed signals a pause or even a dovish outlook, it could support Gold
$Gold - Dec 2024(GC2412)$ My Futures Gold Weekly Review. When Will 'I Gold You 3,000' Eventually Happen? What happened? During the week of October 7β11, 2024, Gold Futures experienced a mix of cautious trading and significant price movements, ultimately closing the week on a bullish note. β’ Monday saw range-bound trading as the market awaited key U.S. data, with prices moving between $2,657 and $2,679. β’ Tuesday brought a 1.15% drop due to strong U.S. economic data, pushing prices down to $2,623, offering quick profit opportunities for short sellers. β’ Wednesday featured modest recovery, with prices stabilizing around $2,626, though traders faced choppy conditions. β’ Thursday saw bullish momentum build, as prices climbed 0.51% t
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$Gold - Dec 2024(GC2412)$ π Gold Futures Market Recap (21-25 Oct 2024) π The Gold Futures market saw some interesting moves this past week, keeping traders on their toes! Hereβs a quick breakdown of what happened: π Bullish Momentum Yet Facing Resistance The week started with a bullish push as prices climbed above both the 9-day and 20-day Exponential Moving Averages (EMA9 at 2748.1 and EMA20 at 2745.0), signaling strong buying interest. However, the market struggled to break above the resistance level around 2772.6, as investors took profits, keeping a lid on further gains. π₯ Increased Volatility With an ATR (Average True Range) of 12.31, volatility was notably high. The market experienced sharp swings within a narrow range, refle