Gold price is likely to rise due to the impact of Donald Trump’s high tariffs on the global market. When a country imposes tariffs on imports, it often leads to an increase in inflation, which can drive demand for gold as a store of value and hedge against rising prices. In addition, the uncertainty surrounding Trump’s trade policies can also fuel demand for gold as a safe-haven asset.
Today’s given signal : https://t.me/calendarsignal/16109
Today’s Bad USA Data of Home Sales & Consumer Confidence
Today’s release of poor economic data from the United States, specifically home sales and consumer confidence, may also contribute to a rise in gold price. Weak home sales indicate reduced demand for real estate, which can have ripple effects on the broader economy. Similarly, a decline in consumer confidence suggests that consumers are less optimistic about the future, which can also lead to increased gold demand.
Oversold Zone
Gold is currently in an oversold zone, which could also contribute to a potential upward movement in price. When the gold price has been declining for a while and reaches a point where it is considered to be oversold, it often leads to a period of consolidation or reversal. Traders and investors often take this opportunity to buy gold in anticipation of a potential rebound.
Higher Buyer Volume Accumulation on 26th November 2024
According to historical data, there has been a higher buyer volume accumulation on the 26th of November in the past. This indicates that there may be increased interest in gold on that day. Whether this historical pattern repeats itself or not, it suggests that there may be additional demand for gold on that day, which could potentially drive its price higher.
Previous released data results :
On last CB Consumer Confidence data (29-10-2024) we predict good data, & as per that we suggest to SELL XAUUSD & as a result, we made a profit of 30 points according to the signal we gave.
Check the previous blog : https://blog.forextrade1.co/impact-on-xauusd-pair-ahead-of-cb-consumer-confidence-jolsts-job-opening-data-today-29-10-2024/
Check last given signal : https://t.me/calendarsignal/15742
Performance : https://t.me/calendarsignal/15755
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