{"id":14686,"date":"2024-11-19T08:51:29","date_gmt":"2024-11-19T08:51:29","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14686"},"modified":"2025-02-16T10:55:25","modified_gmt":"2025-02-16T10:55:25","slug":"forex-market-analysis-19-november-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-19-november-2024\/","title":{"rendered":"Forex market analysis: 19 November 2024"},"content":{"rendered":"\n<p>Gold prices are rising, reaching USD 2,625.54, as a weaker US dollar, geopolitical tensions, and strong demand drive gains. Traders now await Federal Reserve updates and interest rate signals for the next move.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Gold prices rally<\/strong><\/h1>\n\n\n\n<p>Gold prices continued their upward climb, reaching a high of USD 2,625.54 on Tuesday, as indicated in the attached chart.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"453\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1.jpeg\" alt=\"\" class=\"wp-image-14687\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1.jpeg 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-300x133.jpeg 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-768x340.jpeg 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-500x221.jpeg 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-400x177.jpeg 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-350x155.jpeg 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453-1-200x88.jpeg 200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The metal settled at USD 2,622.64, maintaining a steady advance from last week\u2019s low of USD 2,559.52.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Gold hits one-week high on softer dollar; markets await Fed cues <a href=\"https:\/\/t.co\/owFeZuW9ND\">https:\/\/t.co\/owFeZuW9ND<\/a> <a href=\"https:\/\/t.co\/XMNAuf7UDb\">pic.twitter.com\/XMNAuf7UDb<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1858754600439775612?ref_src=twsrc%5Etfw\">November 19, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>This surge is driven by a combination of a weaker US dollar, escalating geopolitical risks, and strong bullish sentiment in the market.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Weaker dollar supports gold prices<\/strong><\/h1>\n\n\n\n<p>The recent decline in the US dollar, largely due to profit-taking following its previous rally, has made gold more attractive to buyers using other currencies, further boosting demand for the precious metal.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Focus on Fed\u2019s rate outlook<\/strong><\/h1>\n\n\n\n<p>Market participants are closely following statements from Federal Reserve officials this week, which could provide insights into potential rate changes at the December meeting.<\/p>\n\n\n\n<p>Current market sentiment suggests a 58.8% likelihood of a 25-basis-point rate cut, with a 41.2% chance of rates remaining unchanged. Lower interest rates typically benefit gold by reducing the cost of holding non-yielding assets.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Geopolitical risks drive safe-haven demand<\/strong><\/h1>\n\n\n\n<p>Russia\u2019s most significant <a href=\"https:\/\/www.reuters.com\/world\/europe\/russian-bomb-hits-residential-building-ukraines-kharkiv-there-are-casualties-2024-10-30\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"airstrike on Ukraine\">airstrike on Ukraine<\/a> in three months has heightened geopolitical tensions, increasing demand for safe-haven assets like gold.<\/p>\n\n\n\n<p>Simultaneously, the US labour market remains tight, sustaining inflationary pressures and complicating the Federal Reserve\u2019s policy decisions.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Outlook for gold prices<\/strong><\/h1>\n\n\n\n<p>In the short term, gold\u2019s trajectory will depend on upcoming Fed commentary and developments in global geopolitics.<\/p>\n\n\n\n<p>If the dollar stabilises or the Fed signals a dovish stance, gold may challenge higher resistance levels, with USD 2,650 acting as a potential cap for gains.<\/p>\n\n\n\n<p>Traders should remain attentive to fluctuations in the dollar, interest rate expectations, and geopolitical factors as key indicators for the metal\u2019s next moves.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices are rising, reaching USD 2,625.54, as a weaker US dollar, geopolitical tensions, and strong demand drive gains. Traders now await Federal Reserve updates and interest rate signals for the next move. Gold prices rally Gold prices continued their upward climb, reaching a high of USD 2,625.54 on Tuesday, as indicated in the attached <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-19-november-2024\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14686","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=14686"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14686\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}