Micro Gold Futures (Aug 2024) Forum & Chats (COMEX_MINI:MGCQ2024)

3 hours ago

TGT1 and TGT2 today also in gold and silver....

11lakh per 10lot todays sell call profit....

wait 94000 or book profit and again life high 100000 gold....this week......

iryamukurup

9 hours ago

Gold futures are bullish and expected to hit 3500 by the end of this week.

Caramel0

9 hours ago

We got a consolidation printing Higher highs and higher lows. If this consolidation is not done, I expect price to hit that 1h FVG before reversing down towards another FVG. The other theory is based on the impulse not being over yet and the target is a new ATH. Fed's decision today will dictate the move. Lower rates = pump on S&P + dump on gold, and vice-versa.

Aadinathtaya

10 hours ago

its a sharp drop all sellers in mid levels

preciousforextips

17 hours ago

Gold Set for -10.00% Sharp Drop This Week

Gold prices have continued their upward trend over the past three sessions. On May 1st, spot gold (XAU/USD) reached the 3202.09 range. Gold prices surged nearly 3% today and 7% in last four sessions, climbing from $3202 to $3434.96 per ounce as of today.

This rally has been fueled by strong post-holiday buying from China and growing concerns about potential U.S. tariffs on pharmaceutical imports. The market also responded to an announcement from the administration calling for a 100% tariff on all foreign-produced movies in the U.S., while investors remain focused on the upcoming Federal Reserve policy decision.

Gold prices continued to rise today during the morning US session.

This follows a recent 5% drop in precious metals, particularly gold, over the past 1 weeks—driven by central bank buying and differences in the gold-to-silver price ratio.

Gold has also shown more volatility than silver in last few sessions.

Looking before to the US market close, I believe it's an ideal time to sell as much gold and silver as possible at current levels.

In my view, we can expect a downward move of more than 10% in Gold spot XAUUSD either later today or within the next two sessions.

Based on my trading strategy for Spot Gold (XAUUSD):
Don’t miss the chance to capitalize on a potential downside move of over -10% in gold—possibly occurring today or by the end of the week.

Before the US market closing today, spot gold (XAUUSD) touched around $3434.96 per ounce, while June Gold Futures traded near the $3444.47 mark.

This price zone could represent a strong selling opportunity, consistent with typical profit-taking behavior.

At these elevated levels, many traders may choose to secure profits, which could lead to a pullback in the market.

If spot gold begins to decline, it may drop toward the intraday low around $3323.50 per ounce. A continued downturn could push prices further to approximately $3287.00—nearly $150 below the recent high. Additional weakness might offer further selling chances, potentially driving prices down to yesterday’s or the weekly low near $3237.81 per ounce. Continued declines could offer new selling opportunities, potentially pushing prices to the 10th April low of $3071.03 range per ounce.