GOLD decreased slightly from 2,741 USD
Friday (October 25) in the Asian market, 
XAUUSD suddenly decreased rapidly in the short term. Gold price is close to 2,725 USD/ounce, down more than 9 USD during the day as of the time this article was completed.
The latest news is that the United States and Israel plan to restart ceasefire negotiations in Gaza, which has affected gold prices in the short term.
The US and Israel plan to resume ceasefire negotiations in Gaza
U.S. officials said Thursday that U.S. and Israeli negotiators will gather in Doha in the coming days to try to restart talks to reach an agreement on a ceasefire and the release of hostages in Gaza. , Reuters reported today (Friday.)
Qatar and Egypt acted as intermediaries in the months-long negotiations between Israel and Hamas. Previously, negotiations broke down in August this year, making it impossible for the two sides to reach an agreement to end the conflict. The conflict began when Hamas launched an attack on southern Israel on October 7, 2023.
Israeli Prime Minister Benjamin Netanyahu's office said David Barnea, the head of Israel's Mossad intelligence agency, would travel to Doha on Sunday, adding that CIA Commissioner William Burns would attend the talks.
US Secretary of State Antony Blinken traveled to the Middle East this week in hopes of restarting ceasefire talks in Gaza following the death of Hamas leader Yahya Sinwar. Washington sees Shinwar as the main obstacle to a deal.
“Going back to the ceasefire negotiations and the hostage issue, one of the things we're doing is looking at whether there are different options that would allow us to get to an outcome,” Blinken said. ”.
In terms of economic data
The number of people filing for first-time unemployment benefits in the United States unexpectedly fell last week, but the number of people receiving benefits increased in mid-October, raising the risk of a rise in the unemployment rate this month. .
Initial jobless claims for the week ended October 19 fell from 15,000 to a seasonally adjusted 227,000, the U.S. Department of Labor said on Thursday. The decline in unemployment claims due to Hurricane Helen offset the spike in unemployment claims due to Hurricane Milton.
The market had forecast 242,000 applications for unemployment benefits in the latest week. Helen and Milton make it more difficult to keep your finger on the pulse of the labor market.
Unemployment rate fell to 4.1% in September from 4.2% in August. Unemployment rate increased to 4.3% in July from 3.4% in April 2023, this is which led to the Federal Reserve's unusually large 50 basis point interest rate cut last month. This is seen as beneficial for the USD and not supportive of gold.
Analysis of technical prospects forXAUUSD
Gold was once again under pressure and fell slightly after reaching the initial target level noticed by readers in yesterday's edition at 2,741 USD, the Fibonacci price point extended by 1%.
Overall, gold needs some time to adjust as it has had a long period of continuous price increases, indicators are at overbought levels as shown by the Relative Strength Index pointing down from the 75 and still far from the nearest support level at 50.
In the short term, gold will likely test the area of 2,711 - 2,700 USD, which is considered the closest support area currently.
In the event that the $2,700 raw price level is broken below gold, there will be room for a bit more downside with subsequent targets around $2,688 – $2,672 Fibonacci price points of 0.618% and 0.50%.
Although reductions and corrections may still occur, in general the trend of gold is still up, in fact the uptrend is still being maintained with the price channel currently trending in the short term.
As long as gold remains above EMA21, within the channel, its main trend is still bullish even if downward corrections occur, and short-term price points will be noticed again as follows.
Support: 2,711 – 2,700USD
Resistance: 2,741 – 2,748 – 2,758USD
SELL XAUUSD PRICE 2766 - 2764⚡️
↠↠ Stoploss 2770
→Take Profit 1 2759
↨
→Take Profit 2 2754
BUY XAUUSD PRICE 2680 - 2682⚡️
↠↠ Stoploss 2676
→Take Profit 1 2687
↨
→Take Profit 2 2692
XAUUSD suddenly decreased rapidly in the short term. Gold price is close to 2,725 USD/ounce, down more than 9 USD during the day as of the time this article was completed.The latest news is that the United States and Israel plan to restart ceasefire negotiations in Gaza, which has affected gold prices in the short term.
The US and Israel plan to resume ceasefire negotiations in Gaza
U.S. officials said Thursday that U.S. and Israeli negotiators will gather in Doha in the coming days to try to restart talks to reach an agreement on a ceasefire and the release of hostages in Gaza. , Reuters reported today (Friday.)
Qatar and Egypt acted as intermediaries in the months-long negotiations between Israel and Hamas. Previously, negotiations broke down in August this year, making it impossible for the two sides to reach an agreement to end the conflict. The conflict began when Hamas launched an attack on southern Israel on October 7, 2023.
Israeli Prime Minister Benjamin Netanyahu's office said David Barnea, the head of Israel's Mossad intelligence agency, would travel to Doha on Sunday, adding that CIA Commissioner William Burns would attend the talks.
US Secretary of State Antony Blinken traveled to the Middle East this week in hopes of restarting ceasefire talks in Gaza following the death of Hamas leader Yahya Sinwar. Washington sees Shinwar as the main obstacle to a deal.
“Going back to the ceasefire negotiations and the hostage issue, one of the things we're doing is looking at whether there are different options that would allow us to get to an outcome,” Blinken said. ”.
In terms of economic data
The number of people filing for first-time unemployment benefits in the United States unexpectedly fell last week, but the number of people receiving benefits increased in mid-October, raising the risk of a rise in the unemployment rate this month. .
Initial jobless claims for the week ended October 19 fell from 15,000 to a seasonally adjusted 227,000, the U.S. Department of Labor said on Thursday. The decline in unemployment claims due to Hurricane Helen offset the spike in unemployment claims due to Hurricane Milton.
The market had forecast 242,000 applications for unemployment benefits in the latest week. Helen and Milton make it more difficult to keep your finger on the pulse of the labor market.
Unemployment rate fell to 4.1% in September from 4.2% in August. Unemployment rate increased to 4.3% in July from 3.4% in April 2023, this is which led to the Federal Reserve's unusually large 50 basis point interest rate cut last month. This is seen as beneficial for the USD and not supportive of gold.
Analysis of technical prospects for
XAUUSD Gold was once again under pressure and fell slightly after reaching the initial target level noticed by readers in yesterday's edition at 2,741 USD, the Fibonacci price point extended by 1%.
Overall, gold needs some time to adjust as it has had a long period of continuous price increases, indicators are at overbought levels as shown by the Relative Strength Index pointing down from the 75 and still far from the nearest support level at 50.
In the short term, gold will likely test the area of 2,711 - 2,700 USD, which is considered the closest support area currently.
In the event that the $2,700 raw price level is broken below gold, there will be room for a bit more downside with subsequent targets around $2,688 – $2,672 Fibonacci price points of 0.618% and 0.50%.
Although reductions and corrections may still occur, in general the trend of gold is still up, in fact the uptrend is still being maintained with the price channel currently trending in the short term.
As long as gold remains above EMA21, within the channel, its main trend is still bullish even if downward corrections occur, and short-term price points will be noticed again as follows.
Support: 2,711 – 2,700USD
Resistance: 2,741 – 2,748 – 2,758USD
SELL XAUUSD PRICE 2766 - 2764⚡️
↠↠ Stoploss 2770
→Take Profit 1 2759
↨
→Take Profit 2 2754
BUY XAUUSD PRICE 2680 - 2682⚡️
↠↠ Stoploss 2676
→Take Profit 1 2687
↨
→Take Profit 2 2692
Nota
The precious metal came under pressure early Friday, as sellers returned after gold prices failed to break out of the $2,740 resistance zone. The market is turning its attention to new US economic data and statements from Fed officials in search of fresh impetus for XAU/USD.Nota
Gold prices increased to above 2740 USD/oz after bottoming around 2717 during the session as concerns about escalating tensions in the Middle East have subsided somewhat. However, traders are still wary of the risk of Israel "retaliating" against Iran.Nota
![GOLD MARKET ANALYSIS AND COMMENTARY - [October 28 - November 01]](https://s3.tradingview.com/n/nIWXR8UL_mid.png)
Nota
🔴Spot gold fell to 2,725 USD/ounce, down 0.62% on the day.Nota
XAU/USD recovered during the session and climbed above the $2,740/oz mark entering Monday's European session.Nota
Gold prices recovered to approach the session's peakNota
World gold prices have continued to expand their upward momentum, fluctuating around the threshold of 2,750 USD/ounce. Currently, traders are waiting for a series of US economic data this week to get more information about the future policy direction of the US Federal Reserve (Fed). Key data to be released this week include the private sector jobs report, core personal consumption expenditures figures and nonfarm payrolls.Nota
⚫Gold: Gold price is currently at 2748.96 USD/ounce, looking to hold the support level of 2750 USD/ounce. If it sustains above this level, it is likely to test the resistance at $2,759.
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🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
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