Chart of the day - GOLD (05.02.2024)

Gold, as well as other precious metals, are trading lower today. Fed Chair Powell repeated his suggestions during a weekend interview that the March meeting may be too soon for the first rate cut. Money markets are now pricing in just 18% chance of a 25 basis point rate cut at March 20, 2024 meeting, down from over 50% chance priced in a week ago. Pricing for a rate cut for May 1, 2024 meeting stands above 70%. Delayed in market pricing for the beginning of Fed rate cut cycle is providing support for the US dollar, with EURUSD dropping to 1.0760 area today - the lowest level since December 12, 2023. This, in turn, puts pressure on gold prices.

Taking a look at GOLD chart at H1 interval, we can see that price broke above the upper limit of the $2,015 - 2,036 trading range last week and managed to reach the textbook target of the breakout in the $2,056 per ounce area. However, bulls failed to extend the advance beyond this area and price started to pull back. Situation is very similar to the one from January 12-15, 2024 (orange circle), which was followed by a quick pullback back into the aforementioned trading range and even beyond it. Having said that, the next support zone to watch on GOLD can be found in the $2,015 area, but a move below it cannot be ruled out if the current sentiment lasts.

Source: xStation5

6 November 2025, 7:23 PM

Daily summary: Optimism on Wall Street eases again🗽US Dollar drops from recent highs

6 November 2025, 6:48 PM

Coffee futures drop as huge Brazilian shipping to Europe eases supply concerns

6 November 2025, 6:36 PM

Cocoa falls 3% amid improving crops in West Africa

6 November 2025, 4:03 PM

Oil continue the downfall amid rising OPEC production 📉 Saudi Arabia cuts prices

commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days

Chart of the day - GOLD (05.02.2024)

Join over 2 000 000 XTB Group Clients from around the world