gold price decline today

[thefinancialtrader]

Gold Price Decline: An Opportunity to Invest?​

Today, November 25, 2024, the price of gold is experiencing a significant decline, despite its solid long-term fundamentals. The nomination of Scott Bessent as U.S. Secretary of the Treasury and signs of improvement in geopolitical conflicts have reduced gold's appeal as a safe-haven asset.

But is this the right time to buy gold?
Many experts believe that the recent dip presents a chance to enter the market at a favorable price. With more balanced economic policies on the horizon and geopolitical uncertainties that could resurface, gold remains a strategic asset for those seeking long-term protection against inflation and market volatility.

What do you think?
Would you buy gold during this dip, or would you prefer to wait for further developments?

Join the discussion in the comments!
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#Investments #Gold #FinancialMarkets #Investing #InflationHedge #Trading

 

[Simon54]

I see the current dip in gold as a potential buying opportunity. Gold’s long-term value as a hedge against inflation and uncertainty still holds, and if prices drop further, it could be a great chance to enter. I'm keeping an eye on the market, ready to make a move if conditions align.

 

[thefinancialtrader]

I see the current dip in gold as a potential buying opportunity. Gold’s long-term value as a hedge against inflation and uncertainty still holds, and if prices drop further, it could be a great chance to enter. I'm keeping an eye on the market, ready to make a move if conditions align.

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[ChelseaR]

I see the current dip in gold as a potential buying opportunity. Gold’s long-term value as a hedge against inflation and uncertainty still holds, and if prices drop further, it could be a great chance to enter. I'm keeping an eye on the market, ready to make a move if conditions align.

Gold prices are increasing slowly and have reached $2627. Even I am monitoring the market but I will get the surety after Federal Reserve’s statement on the interest rates. I think I would not enter right now and wait for a few more days and see where the price reaches at that time.

 

[Simon54]

Gold prices are increasing slowly and have reached $2627. Even I am monitoring the market but I will get the surety after Federal Reserve’s statement on the interest rates. I think I would not enter right now and wait for a few more days and see where the price reaches at that time.

For sure! The Fed’s latest statement is important as it will decide whether it will dip or surge based on the cut on interest rates.

 

[da-net]

Everything depends upon your own personal view and time span. Something you need to think about very clearly. All central banks are net buyers of Gold. China has been buying gold off the market, even though it produces gold itself. China is NOT selling their own mined gold, they are keeping it. China as the 2nd largest economy plans things decades in the future. They don't care about next quarter or next year. What does China see or have planned that we don't know about? This is what should concern you most about the price of gold currently. The second most important thing is whether you're buying Eagles, Britannia or other country coins they have a stated face value and WHEN the next 1934 confiscation happens, what are you going to receive for your gold?.

 

[Simon54]

Everything depends upon your own personal view and time span. Something you need to think about very clearly. All central banks are net buyers of Gold. China has been buying gold off the market, even though it produces gold itself. China is NOT selling their own mined gold, they are keeping it. China as the 2nd largest economy plans things decades in the future. They don't care about next quarter or next year. What does China see or have planned that we don't know about? This is what should concern you most about the price of gold currently. The second most important thing is whether you're buying Eagles, Britannia or other country coins they have a stated face value and WHEN the next 1934 confiscation happens, what are you going to receive for your gold?.

I think the steady gold prices are also tied to the trend of dedollarization. More countries are turning to gold as a safe haven asset, it is not just China. It seems like a lot of nations are looking to protect their assets by diversifying away from the dollar. Definitely something to watch!

 

[ChelseaR]

Resistance - $2700
Support - $2653
What do you guys think?

 

[Simon54]

Resistance - $2700
Support - $2653
What do you guys think?

Where'd you see it heading next?

 

[Simon54]

Not declining anymore. Gold is traded as an safe heaven in between US - China Trade war.

 

[gka]

I attach the Volatility Response Model predictions (VRMFX) for spot gold for the next week. The green curves are the top, middle and bottom of the long term trend channel LTTC predicted by the VRMFX. The H, L and S levels are the high, sentiment and low levels predicted from 1 to 8 weeks out into the future.

The XAU-USD now has 5 weekly resistance levels above Friday's close. Not looking good for XAU-USD. If XAU-USD falls through the top of the LTTC this week at 2795.13 then the next major support level to look for would be the middle of the LTTC at 2656.86 for this next week. If XAU-USD falls through the middle of the LTTC then the market turns long term bearish.

VRMFX and XAU-USD predictions are described in more detail in a gold thread in the forex forum.

gka