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XAUUSD : Gold is recovering after PPI and CPI dataGold continues to be under pressure from strong economic data Gold had a volatile week after a series of US economic data rose above estimates Gold had a volatile week with a sharp drop from $2,031 to $1,990 on Tuesday as the US CPI report beat estimates. Precious metals recovered but then sold off slightly on Friday when US PPI data also increased more than expected, showing that the US economy is still very resilient under the pressure of high interest rates. With current economic data along with the ongoing geopolitical situation, gold prices are expected to continue to experience many fluctuations. Currently, gold is recovering to $2,017. Next week, the market will receive the FOMC meeting minutes and S&P Global PMI index on Thursday. These data will give the market a clearer view of the economy and the Fed's interest rate outlook, which could create volatility for gold.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : How will gold fluctuate in 2024 ?Gold has had wild swings in 2023, rising about 15% from the beginning of the year to May, then falling 13% in October before rising nearly 19% to create a record high in early December. Currently, there are many factors that may affect and cause gold prices to continue to increase in Q1, 2024. Weakness of the USD Gold has an inverse relationship with US government bond yields as well as the US dollar. Therefore, when interest rates fall and the dollar weakens, precious metals often increase in price as the opportunity cost of holding gold decreases. Although the Fed has not yet ruled out another rate hike, the market has already decided that interest rates will fall next year. This is shown by the sharp decrease in government bond yields and the USD. Therefore, even in the absence of fresh bullish momentum, the USD downtrend should still keep XAU/USD supported. From a technical perspective, the outlook for gold's price increase is still quite complicated after gold increased sharply at the end of the year, making the current Risk-Reward ratio not too impressive. Therefore, gold is likely to correct slightly before continuing its current bullish structure, with the first level of support located around the $2,010 area, beyond that at the $1,956 threshold. On the upside, current resistance levels lie at $2,075 and if bullish momentum increases gold prices could return to the record high of $2,146.79.
CITYINDEX:XAUUSDShort
by SantaTradeGold
NIO If you haven`t sold NIO at this crazy valuation: or after the BMW comparision: or reentered before the breakout: Then analyzing the options chain and the chart patterns of NIO prior to the earnings report this week, I would consider purchasing the 7usd strike price at the money Calls with an expiration date of 2023-12-15, for a premium of approximately $0.47. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:NIOLong
by TopgOptions
BIDU Baidu Options Ahead of EarningsIf you haven`t sold BIDU`s top: nor the previous ER: Then analyzing the options chain and the chart patterns of BIDU Baidu prior to the earnings report this week, I would consider purchasing the 105usd strike price in the in the money Calls with an expiration date of 2024-6-21, for a premium of approximately $16.90. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:BIDULong
by TopgOptions