• Gold price attempts a tepid bounce from three-week lows of $2,644 early Thursday.
• The US Dollar consolidates the Trump trades-led rally on the Republican candidate’s presidency.      
• The daily technical setup for Gold price suggests that the tide has turned in favor of sellers.

Gold price is seeing a dead cat bounce from three-week lows of $2,644 in Asian trading on Thursday, as the dust settles in the aftermath of a massive sell-off, fuelled by Republican candidate Donald Trump’s victory in the US presidential race.

Gold price stays defensive, awaiting the Fed verdict

The US Dollar (USD) has entered a bullish consolidation phase after rallying to its highest level in four months against its major rivals, capitalizing on the return of Trump trades. Trump’s policies on immigration, tax cuts and tariffs are expected to put upward pressure on inflation, Wall Street stocls, US Treasury bond yields and the USD.

These expectations from the Trump administration and their likely implications on the economy spelt doom for the non-yielding Gold price, smashing it about $100 from the static resistance of $2,750.

Attention now turns toward the US Federal Reserve (Fed) policy announcements due later this Thursday. Markets are fully pricing in a 25 basis points (bps) Fed rate cut this week but investors will closely scrutinize any hints on the central bank’s path forward on interest rates.

Donald Trump’s return to the White House could prompt the Fed to slow down on its easy cycle, as his expansionary fiscal policies are seen as highly inflationary.

Fed Chair Jerome Powell is expected to affirm the US central bank’s independence and that they will act as the economic and inflation outlook unfolds. Powell is likely to acknowledge the recent slack in the labor market and the progress on disinflation, reiterating that the Fed will remain ‘data-dependent’ while determining the next policy move.

Gold price technical analysis: Daily chart

As observed on the daily chart, Gold price cracked all the major Fibonacci Retracement (Fibo) support levels amid the Trump trades-induced sell-off on Wednesday.

The 14-day Relative Strength Index (RSI) also pierced through the midline to dive into bearish territory, currently trending near 43.

The leading indicator suggests that more downside remains in the offing. However, a temporary pullback following the previous slump cannot be ruled out.

A dovish message by the Fed could rescue Gold buyers so long as they defend the critical support at $2,641, which is the confluence of the 50-day Simple Moving Average (SMA) and the 78.6% Fibo level of the latest record rally from the October 10 low of $2,604 to the new all-time high of $2,790.

Gold buyers will then aim for acceptance above the 61.8% Fibo support-turned-resistance at $2,673. Further up, a strong topside barrier near $2,700 will be tested, where the 50% Fibo of the same ascent level aligns.  

If the Fed signals a slower pace of easing in the coming months, Gold price could see a sustained break below the abovementioned healthy support at $2,641.

A fresh downtrend will unleash toward the October 10 low of $2,604, below which the $2,550 psychological level will challenge the bullish commitments.

Experts predict that coffee prices on November 7, 11 will likely continue to fluctuate within a narrow range due to pressure from supply and fluctuations in the international market.

The recovery of Robusta coffee prices on the London floor has partly supported domestic coffee prices, helping to prevent a sharp decline. However, the abundant coffee supply in Vietnam during the main harvest season still puts considerable pressure on coffee prices.

Vietnam’s robusta coffee harvest could help ease price pressure, but the smaller output may not be enough to restore global coffee supplies in the long term. worldVietnam’s coffee output this year (including Arabica and Robusta) is expected to reach around 26-27 million bags, lower than the US Department of Agriculture’s (USDA) estimate of 5 million bags in May, as the impact of drought has yet to be fully assessed.

Recorded in the trading session on November 6, 11, today’s coffee price increased by 2024 – 400 VND/kg, ranging from 500 – 105.900 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106.400 VND/kg, the highest purchase price in the province Dak Nong, Dak Lak, Gia Lai, Kon Tum 106.400 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106.400 VND, an increase of 500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 106.300 VND/kg; In Kon Tum province, the price is 106.400 VND/kg, an increase of 500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106.400 VND/kg, an increase of 400 VND/kg compared to yesterday.

Price of green coffee beans (coffee beans, fresh coffee beans) in the province Lam Dong In districts such as Bao Loc, Di Linh, Lam Ha, coffee was purchased at 105.900 VND/kg, an increase of 400 VND/kg compared to yesterday.

Domestic coffee prices (November 6) in Dak Lak province; in Cu M’gar district, coffee was purchased at about 11 VND/kg, an increase of 106.400 VND/kg compared to yesterday, and in Ea H’leo district, Buon Ho town, coffee was purchased at the same price of 400 VND/kg.

Updated world coffee prices at 20:00 p.m. on September 6, 11, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 1 USD/ton, down 2025 USD compared to the beginning of the trading session.

Coffee prices today, July 6, 11: Robusta coffee prices on the London floor. (Photo: Screenshot from giacaphe.com

Delivery term in November 3 is 2025 USD/ton, down 4.205 USD; Delivery term in January 98 is 5 USD/ton, down 2025 USD and delivery term in March 4.146 is 98 USD/ton, down 5 USD.

Arabica coffee prices on the New York floor on October 6, 11. (Photo: Screenshot of giacaphe.com)

Of which, the price of Arabica coffee on the New York floor at 20:00 on November 6, 11 decreased in all terms, fluctuating at 2024 – 241.20 cents/lb.

Specifically, the December 12 delivery period is 2024 cents/lb; down 245.20 cents/lb compared to the beginning of the session. The March 4.95 delivery period is 3 cents/lb, down 2025 cents/lb; the May 244.60 delivery period is 4.80 cents/lb, down 5 cents/lb and the July 2025 delivery period is 243.30 cents/lb, down 1.95 cents/lb.

Brazilian Arabica coffee price on October 6, 11. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on November 6, 11 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 12 USD/ton, down 2024%; the delivery period for March 300.00 is 1.40 USD/ton, down 3%; the delivery period for May 2025 is 299.50 USD/ton, up 1.40% and the delivery period for July 5 is 2025 USD/ton, up 304.05%.

Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.

Research Agency Agriculture Rains in key coffee-producing regions in October facilitated flowering, raising producers’ expectations for the 10-2025 crop, Brazil (CEPEA) said. However, concerns about crop development remain uncertain, given that coffee plants have been hit by high temperatures and a lack of rain for nearly six months in some areas.

The 2023-2024 crop failure, high prices and low yields have led to a high rate of sales this year, leaving inventories tight, raising concerns about coffee supplies until Brazil’s next crop.

Information for reference only. Prices may vary depending on locality.

• Silver breaks below key support levels, including 50-day SMA at $31.27.
• Daily close below $31.00 may lead to further decline toward 100-day SMA at $30.23.
• Resistance levels to watch: July 11 high at $31.75 and May 20 peak at $32.51.

Silver price slumped sharply on Wednesday after US President Donald Trump wins the 2024 presidential election. Additionally, the Republican party sweep seems likely as they hold the majority in the Senate, while the House of Representatives is still early to be called. The XAGU/USD trades at $31.16, down over 4.50%.

XAG/USD Price Forecast: Technical outlook

Silver’s price uptrend remains in play, even though Trump’s victory boosted the Greenback. Consequently, the XAG/USD tumbled below key support levels, including the 50-day Simple Moving Average (SMA) at $31.27, which opened the door to hit a daily low of $30.84.

If XAG/USD achieves a daily close below $31.00, it could trigger a potential slump to the 100-day SMA at $30.23. If surpassed, the next stop would be the $30.00 figure.

On the upside, the next key resistance would be the July 11 high at $31.75. A breach of the latter will expose $32.00, followed by May’s 20 peak at $32.51.

XAG/USD Price Chart – Daily

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Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.

XAU/USD Current price: $2,666.19

• Former President Donald Trump won the 2024 presidential election.
• The Federal Reserve will announce its decision on monetary policy on Thursday.
• XAU/USD trades near its daily low, more slides likely despite near-term oversold conditions.

In one of the tight races in the United States (US) history, Donald Trump has been elected the 47th President of the world’s largest economy. Trump will return to the White House in January 2025, pulling off a stunning victory. By the time of writing, Trump has secured 277 electoral votes, more than the 270 needed to take office.

As a result, the US Dollar soared, pushing Gold prices to fresh three-week lows. XAU/USD trades near an intraday low of $2,652.29 in the mid-American session without signs of losing its downward momentum.

But not only the Greenback benefited from Trump’s victory. US indexes also run, reaching record highs, while government bonds plunged, sending Treasury yields to fresh multi-week highs. It is worth noting, however, that the 2-year note offers 4.28%, while the 10-year note yields 4.46%, the latter advancing at a faster pace and keeping the yield curve in the right place.

Excitement is far from over, given that the Federal Reserve (Fed) will announce its decision on monetary policy on Thursday. The Fed is widely anticipated to cut the benchmark interest rate by 25 basis points. The focus, however, will be on what Chairman Jerome Powell has to say about Trump’s return as the expected shift in fiscal and financial policies is likely to take its toll on US economic developments.

XAU/USD short-term technical outlook  

From a technical point of view, XAU/USD daily chart shows bearish pressure is in full shape. Technical indicators maintain their downward slopes after crossing their midlines into the negative territory, heading south almost vertically. Even further, the pair broke below a bullish 20 Simple Moving Average (SMA), which now stands at around $2,714. The 100 and 200 SMAs maintain their bullish slopes far below the current level, suggesting there is still a chance for bulls.

The pair seems to have found an intraday bottom, according to the 4-hour chart. XAU/USD plummeted below all its moving averages, with the 20 SMA accelerating its slump above, but still above the 100 and 200 SMAs. As for the longer moving averages, they have lost their upward strength. Technical indicators, in the meantime, have pared their slides but stand within extremely oversold readings.

Support levels: 2,652.25, 2,638.00 2,615.65

Resistance levels: 2,686.70 2,698.70 2,714.90

• Silver price plunges below $31.00 as Trump’s victory dampens its safe-haven appeal.
• Higher US Treasury yields and the US Dollar have weighed on the Silver price.
• Investors will focus on the Fed’s commentary to get cues about the impact of Trump’s victory on the interest rate path.

Silver price (XAG/USD) faces a bloodbath on a landslide victory of Republican candidate Donald Trump, is down almost 5% and falls below $31.00 in Wednesday’s North American session. The white metal weakens as investors expect that Trump would effort for a truce between Russia and Ukraine. A ceasefire of more than two Russia-Ukraine wars will improve global market sentiment.

Bloodshed between Russia and Ukraine was one of the reasons behind Silver’s rally, from a low of $18.00 to a more than decade high of around $35.00 in the past two years. Historically, the scenario of geopolitical tensions bodes well for precious metals, such as Silver, as it improves its safe-haven appeal.

Meanwhile, a sheer strength in the US Dollar (USD) and bond yields has also weighed on the Silver. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, posts a fresh four-month high of 105.30. 10-year US Treasury yields soar to near 4.45%. Higher yields on interest-bearing assets increase the opportunity cost of holding an investment in non-yielding assets, such as Silver.

Going forward, investors will focus on the Federal Reserve’s (Fed) interest rate decision, which will be announced on Thursday. The Fed is widely anticipated to cut interest rates by 25 basis points (bps) to 4.50%-4.75%, according to the CME FedWatch tool. Investors will focus on the Fed’s comments on the impact of Trump’s victory on the inflation outlook and the interest rate guidance.

Trump vowed to lower corporate taxes and hike import tariffs by 10% universally, except China which is expected to face tariffs even higher.

Silver technical analysis

Silver price extends its downside below $31.00 after sliding below the horizontal support plotted from the May 21 high of $32.50. The near-term trend of the Silver price has turned bearish as it has dropped below the 50-day Exponential Moving Average (EMA), which trades around $31.60.

The asset could find support near the upward-sloping trendline around $29.00, plotted from the February 28 low of $22.30.

The 14-day Relative Strength Index (RSI) dives to near 40.00. Should RSI (14) fall below 40.00, a bearish momentum will be triggered.

Silver daily chart

Gold (XAU/USD) recently took a sharp dive, trading at $2,711 after a 1% drop, driven by a strong bearish move that sliced through key levels.

Currently, immediate support is at $2,701, with the next support levels seen at $2,692 and $2,684 if the downward momentum persists. Immediate resistance now lies around $2,725, with further barriers at $2,743 and $2,752.

The 50-day EMA sits at $2,740, while the 200-day EMA at $2,742—both above the current price—reinforce the bearish sentiment.

The substantial sell-off, coupled with a bearish engulfing candle, signals potential for further declines. For now, as long as gold remains under $2,725, sellers appear in control, with limited signs of reversal.

• Silver price depreciates as safe-haven metals face challenges over Trump trade rally.
• Early exit polls indicate former President Donald Trump currently holds an edge over Vice President Kamala Harris.
• Improved US Treasury yields contribute to the downward pressure on non-yielding Silver.

Silver price (XAG/USD) struggled to hold onto recent gains, trading around $32.10 per troy ounce during the Asian session on Wednesday. The dollar-denominated precious metal faces downward pressure from a stronger US Dollar (USD), which is likely linked to a rally sparked by the favorable results for the Republican candidate in the US presidential election.

As exit polls begin to show growing support for former President Donald Trump, the likelihood of him becoming the 47th president is increasing. This renewed optimism surrounding the “Trump trade” is lifting market sentiment, creating downward pressure on safe-haven assets like Silver.

Early exit poll results from Wisconsin indicate a lead for Republican candidate Donald Trump, with 56% of the vote compared to 42.5%, based on 7.5% of expected votes counted. In North Carolina, exit polls show a tight race between Trump and Kamala Harris, with 50% of the votes counted. In Michigan, with 12% of votes counted, Harris’ lead has shrunk from 61% to 53%.

Moreover, initial results show Harris leading Trump 61% to 38%, with 46% of the votes tallied in Nebraska’s District 2. Meanwhile, early exit polls from Georgia, one of the first states to report, show a slight edge for Trump. With 16 electoral votes up for grabs, preliminary data suggests Trump holds a 10% lead over Harris, although this is based on less than 1% of votes counted, according to The Washington Post.

Additionally, non-yielding assets like Silver are facing headwinds as US Treasury yields rise, with the 2-year and 10-year US Treasury bond yields at 4.23% and 4.34%, respectively, at the time of writing. Market attention is focused on the balance of power in Congress, as a sweep by either party could bring substantial changes to spending and tax policies, influencing broader market dynamics.

Experts predict that coffee prices will end their decline and rebound on November 6, 11. The depreciation of the USD ahead of the US presidential election will help coffee recover.

At the beginning of the week, experts predicted that many factors would significantly impact coffee prices, including the US presidential election and the Fed’s announcement of an interest rate adjustment. In fact, the USD has depreciated ahead of the US presidential election as investors await the election results and the US Federal Reserve’s policy meeting this week, helping coffee recover. These events are expected to have far-reaching impacts on the global economy.

Recorded in the trading session on November 5, 11, today’s coffee price decreased by 2024 VND/kg, ranging from 500-105.500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106.000 VND/kg, the highest purchase price in the province Dak Nong, Dak Lak 106.000 VND/kg.

Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 105.900 VND, down 500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 105.800 VND/kg; In the province Kon Tum at the price of 105.900 VND/kg, down 500 VND/kg compared to yesterday; In Dak Nong province, coffee was purchased at the highest price of 106.000 VND/kg, down 500 VND/kg compared to yesterday.

Price of green coffee beans (coffee beans, fresh coffee beans) in the province Lam Dong In districts such as Bao Loc, Di Linh, Lam Ha, coffee was purchased at 105.500 VND/kg, down 500 VND/kg compared to yesterday.

Domestic coffee prices (November 5) in Dak Lak province; in Cu M’gar district, coffee was purchased at about 11 VND/kg, down 106.000 VND/kg compared to yesterday, and in Ea H’leo district, Buon Ho town, it was purchased at the same price of 500 VND/kg.

Coffee price update world At 20:00 p.m. on November 5, 11, Vietnam time on the London exchange, the price of Robusta coffee futures for January 2024 delivery on the London exchange was at 1 USD/ton, an increase of 2025 USD compared to the beginning of the trading session.

Coffee prices today, July 5, 11: Robusta coffee prices on the London floor. (Photo: Screenshot from giacaphe.com

Delivery term in November 3 is 2025 USD/ton, an increase of 4.270 USD; Delivery term in January 21 is 5 USD/ton, up 2025 USD and delivery term in March 4.219 is 22 USD/ton, up 5 USD.

Arabica coffee prices on the New York floor on October 5, 11. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor at 20:00 on November 5, 11 increased in all terms, fluctuating at 2024 – 243.10 cents/lb.

Specifically, the December 12 delivery period is 2024 cents/lb; up 247.45 cents/lb compared to the beginning of the session. The March 1.50 delivery period is 3 cents/lb, up 2025 cents/lb; the May 246.45 delivery period is 1.50 cents/lb, up 5 cents/lb and the July 2025 delivery period is 245.20 cents/lb, up 1.40 cents/lb.

Brazilian Arabica coffee price on October 5, 11. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on November 5, 11 increased. Specifically, the delivery period for December 2024 is 12 USD/ton, up 2024%; the delivery period for March 302.70 is 1.20 USD/ton, up 3%; the delivery period for May 2025 is 301.00 USD/ton, up 1.01% and the delivery period for July 5 is 2025 USD/ton, up 298.30%.

Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.

According to the assessment of the Vietnam Coffee – Cocoa Association, the 2024 – 2025 coffee crop has begun to harvest, the country’s output is expected to be about 1,47 million tons, a sharp decrease compared to the previous crop due to unfavorable weather, but the price will be much better than previous years.

Experts predict that Vietnamese coffee prices in the 2024-2025 crop year will continue to remain high due to reduced output, while inventories in the 2023-2024 crop year are not much left.

Information for reference only. Prices may vary depending on locality.