End of 2024! Gold is still in a downtrend
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) remain steady on Monday after two days of losses, with trading volumes thin. The precious metal is poised to close the year with an impressive 27% gain, marking its best annual performance since 2010. This surge has been fueled by central bank purchases, escalating geopolitical tensions, and monetary easing measures by major central banks.
Gold held its ground as markets absorbed signals of a hawkish Federal Reserve (Fed). Strong labor market data and stubborn inflation have led the Fed to project fewer rate cuts for 2025. This expectation contributed to a modest decline in Gold prices during the fourth quarter.
⭐️Personal comments NOVA:
Gold moves around the 2600 price zone, ending the year here and the downtrend is dominant
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2617 - $2619 SL $2624
TP1: $2610
TP2: $2600
TP3: $2590
🔥BUY GOLD zone: $2584 - $2586 SL $2579
TP1: $2590
TP2: $2600
TP3: $2608
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
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