Key events to affect XAU/USD prices (Nov 11 - Nov 17) + Update on my TG channel

Hello, fellow traders!

Shoutout to one of my subscribers Eddiegold who gave me the idea to show simultaneous trades at different timeframes if the setups are looking good. Originally, I was keeping it to just one trade at a time to keep things simple (no confusion with stop losses, take profits, etc.). But then I thought, why not go all in and show multiple setups? Hell yeah, let’s do it!

Since Gold’s in a consolidation phase right now—and I’m generally not trading during these conditions anyway—me and my dev team are working on setting things up so I can show several active trades on TG. It's gonna be awesome! Thank your for your support!

In the meantime, fingers crossed this week’s inflation data finally gets Gold moving again.

Here’s a snapshot of all the high-priority economic events for Nov 11 - 17.

Tuesday, November 12

• 🇦🇺 Australia’s Westpac Consumer Confidence Change: gives us insights into how Australian consumers feel about the economy and how much people are likely to spend. A positive reading means consumer confidence is up - more people feel good about the economy and are more willing to spend money, which can lead to economic growth. A negative reading means confidence is down - more people feel uncertain or pessimistic and are more likely to save than spend, which can slow down the economy.

  📰 Last reading saw a 6.2% increase, showing moderate optimist. However, the overall index still remained below 100.

  • 🚨 Why it matters for Gold:

    • 📈 High Confidence index

      → suggests people are feeling good about the economy, likely leading to more spending and a more robust Australian economy.

      → might lead to a stronger AUD.

      → investors might expect the RBA to raise rates or hold a strong policy, especially if inflation is a concern.

      → can pressure XAU/USD prices since Gold would become more expensive in other currencies, potentially reducing global demand.

      → if a stronger AUD leads to a weaker USD, it might balance off the downward pressure on Gold.

    • 📉 Low Confidence index:

      → suggests consumers are cautious or pessimistic about economic conditions, which could prompt a risk-off sentiment in global markets.

      → might increase demand for safe-haven assets like Gold, driving up XAU/USD prices.

      → traders could see this as a sign the RBA will keep interest rates low or may consider rate cuts, which usually weakens AUD and boosts Gold.

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• 🇦🇺 Australia’s NAB Business Confidence: provides insights into the business climate by surveying Australian companies on how they feel about the economy in the near future and how they view current conditions, including sales, profitability, and employment.

  📰 The latest survey showed an increase of confidence index by 3 points but it still remained negative.

  • 🚨 Why it matters for Gold: The NAB Business Confidence can affect Gold prices indirectly, especially through its influence on the AUD/USD pair and overall market sentiment.

    • 📈 Higher-than-expected NAB confidence:

      → decrease in Gold demand as investors turn to riskier assets like stocks, which tend to perform better in good economic climate.

      → could strengthen the AUD and potentially weaken the USD, pushing XAU/USD