🕐 Midday Update | Wednesday
🟡 Gold is down for the fourth consecutive session, with spot around 4,122$ (-0.55%) after touching the 4,100$ area this morning. December futures are around $4,142.
📌 The pressure is coming from the 10-year U.S. Treasury yield rising to around 5.13%, a recovering dollar, and Brent near 110$ amid tensions around Hormuz.
🏦 Fed: According to FedWatch, there’s about an 84% chance of a hold at the October 27–28 meeting, while the chance of a hike in December is around 90%. All eyes are on the decision and next week’s PCE data.
₿ Bitcoin is up about 2.5% over the past 24 hours and is trading around $83,470, after reaching a high of $83,714. Ethereum is around 2,460$ (+3.3%).
📊 Gold Analysis – Daily Timeframe (COMEX)
📉 Trend: Bearish; price is below the 20-day moving average (4,182), while the 50-day moving average is well above at 4,358
📍 Daily range: 4,124–4,150
🟥 Resistance: 4,175 / 4,182 / 4,211
🟩 Support: 4,124 / 4,095 / then the 4,000 area
🔴 A break below 4,095 on a daily close opens the way to the 4,000 area
🟢 A daily close above 4,182 would ease the pressure and open the way to 4,211, then 4,242
⏳ There’s no clear spot trade right now; price is pressing against support and is below the moving average. We’ll wait for the close and won’t chase 👌
$PAXG $BTC $ETH
#Gold #XAUUSD #بيتكوين
⚠️ This is not financial advice. Please follow sound capital management practices 🤝
🟡 Gold is down for the fourth consecutive session, with spot around 4,122$ (-0.55%) after touching the 4,100$ area this morning. December futures are around $4,142.
📌 The pressure is coming from the 10-year U.S. Treasury yield rising to around 5.13%, a recovering dollar, and Brent near 110$ amid tensions around Hormuz.
🏦 Fed: According to FedWatch, there’s about an 84% chance of a hold at the October 27–28 meeting, while the chance of a hike in December is around 90%. All eyes are on the decision and next week’s PCE data.
₿ Bitcoin is up about 2.5% over the past 24 hours and is trading around $83,470, after reaching a high of $83,714. Ethereum is around 2,460$ (+3.3%).
📊 Gold Analysis – Daily Timeframe (COMEX)
📉 Trend: Bearish; price is below the 20-day moving average (4,182), while the 50-day moving average is well above at 4,358
📍 Daily range: 4,124–4,150
🟥 Resistance: 4,175 / 4,182 / 4,211
🟩 Support: 4,124 / 4,095 / then the 4,000 area
🔴 A break below 4,095 on a daily close opens the way to the 4,000 area
🟢 A daily close above 4,182 would ease the pressure and open the way to 4,211, then 4,242
⏳ There’s no clear spot trade right now; price is pressing against support and is below the moving average. We’ll wait for the close and won’t chase 👌
$PAXG $BTC $ETH
#Gold #XAUUSD #بيتكوين
⚠️ This is not financial advice. Please follow sound capital management practices 🤝