๐ Evening Update | Tuesday
๐ก Gold: A choppy day. Spot fell to a morning low of 4,111$ as oil climbed, then rebounded to around 4,143$ amid reports of an initial U.S.-Iran proposal. It has now returned to around $4,124. December futures are around $4,142.
๐ฆ The Fed has entered its blackout period ahead of the October 27โ28 meeting. According to FedWatch, thereโs about an 83% chance of rates holding steady this month, while the odds of a December hike are between 90% and 94%.
๐ The dollar index fell to around 101.7, the 10-year yield dropped to around 5.1%, and Brent topped 110$ before easing.
โฟ Bitcoin is up approximately 1.1% over the past 24 hours and is trading around $82,830 after rebounding from 81,200$ and being rejected at $83,439. Ethereum is around $2,450.
๐ Bitcoin ETFs saw $526.6 million in inflows, while Ethereum ETFs recorded their fourth consecutive day of outflows, with about $103 million withdrawn.
๐ Gold analysis โ Daily timeframe (COMEX)
๐ Trend: Bearish. Price is below the 20-day moving average (4,191), while the 50-day moving average is well above at 4,364.
๐ Daily range: 4,130โ4,175
๐ฅ Resistance: 4,175 / 4,191 / 4,211
๐ฉ Support: 4,130 / 4,095 / then the 4,000 area
๐ด A daily close below 4,130 opens the way to 4,095.
๐ข A daily close above 4,191 would ease the pressure and open the way to 4,211, then 4,242.
โณ Thereโs no clear spot trade right now; the price is midway between the dayโs low and the 20-day moving average. Weโll wait for the close and wonโt chase the price ๐
$PAXG $BTC $ETH
#Gold #XAUUSD #ุจูุชูููู
โ ๏ธ This is not financial advice. Please follow sound money management practices ๐ค
๐ก Gold: A choppy day. Spot fell to a morning low of 4,111$ as oil climbed, then rebounded to around 4,143$ amid reports of an initial U.S.-Iran proposal. It has now returned to around $4,124. December futures are around $4,142.
๐ฆ The Fed has entered its blackout period ahead of the October 27โ28 meeting. According to FedWatch, thereโs about an 83% chance of rates holding steady this month, while the odds of a December hike are between 90% and 94%.
๐ The dollar index fell to around 101.7, the 10-year yield dropped to around 5.1%, and Brent topped 110$ before easing.
โฟ Bitcoin is up approximately 1.1% over the past 24 hours and is trading around $82,830 after rebounding from 81,200$ and being rejected at $83,439. Ethereum is around $2,450.
๐ Bitcoin ETFs saw $526.6 million in inflows, while Ethereum ETFs recorded their fourth consecutive day of outflows, with about $103 million withdrawn.
๐ Gold analysis โ Daily timeframe (COMEX)
๐ Trend: Bearish. Price is below the 20-day moving average (4,191), while the 50-day moving average is well above at 4,364.
๐ Daily range: 4,130โ4,175
๐ฅ Resistance: 4,175 / 4,191 / 4,211
๐ฉ Support: 4,130 / 4,095 / then the 4,000 area
๐ด A daily close below 4,130 opens the way to 4,095.
๐ข A daily close above 4,191 would ease the pressure and open the way to 4,211, then 4,242.
โณ Thereโs no clear spot trade right now; the price is midway between the dayโs low and the 20-day moving average. Weโll wait for the close and wonโt chase the price ๐
$PAXG $BTC $ETH
#Gold #XAUUSD #ุจูุชูููู
โ ๏ธ This is not financial advice. Please follow sound money management practices ๐ค