Short-Term XAU/USD Outlook – Monday, January 8, 2024

Short-Term XAU/USD Outlook – Monday, January 8, 2024

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Welcome to our latest market update! In this video, we dissect the Short-Term Gold Outlook as of January 8, 2024. Gold prices experienced a turbulent journey last week, reacting to non-farm payrolls and the ISM Services PMI release. The metal initially dipped to $2,024.53, rebounded to $2,064.04, and closed the week at 2,045.63/oz with a 0.85% weekly loss. Amidst escalating tensions in the Middle East, the failure of gold to rally signals a potential downward trend. We explore the ongoing retreat from the all-time high of $2,145.00/oz on December 4, 2023, anticipating a possible extended fall towards the lower $1,900 levels. Keep a close watch on the $1,973.00/oz mark, as a close below could solidify this short-term bearish outlook. Timestamps: 0:00 - Introduction 0:45 - Gold Price Swings 1:30 - Influence of Non-Farm Payrolls and ISM Services PMI 2:15 - Middle East Tensions and Gold's Reaction 3:00 - Unraveling the Retreat from the December High 3:45 - Significance of $1,973.00/oz 4:30 - Conclusion 📈 Stay informed and ahead of market trends with our analysis! Subscribe to our channel for more updates on financial markets. https://everythingtrading.com/ 👍 If you found this video insightful, give it a thumbs up, share it with your fellow investors, and hit the bell icon for notifications on our upcoming market analyses. 📣 Connect with us: [Facebook ] / etmalaysia 📈 Ready to refine your trading skills? Dive into our educational resources and trading tools today! - https://everythingtrading.com/ #GoldPrices #MarketUpdate #TradingInsights #FinancialMarkets #InvestmentAnalysis 📊 Ready to elevate your trading expertise? Explore our comprehensive trading courses and resources. 🔔 Don't miss out on future market updates! Subscribe and hit the notification bell for timely information. 💬 Share your thoughts in the comments. What topics would you like us to cover in our next market update? 👥 Join our trading community on [Instagram] /etmalaysia