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China’s central bank officially bought +23 tonnes of gold in September, its largest monthly purchase since September 2023.
This follows +20 tonnes purchased in both August and July, and marks its 23rd consecutive monthly gold purchase.
So far in 2026, China has officially acquired +103 tonnes of gold, raising total holdings to a record 2,410 tonnes.
China is now the world’s 5th-largest gold holder, following the US, Germany, Italy, and France.
At this pace, it could surpass Italy and France as early as this year, which hold 2,452 tonnes and 2,437 tonnes, respectively.
China is aggressively buying the dip in gold.
Gold futures traders in the West dumped contracts last month, leaving open interest hovering near 400K. That is the same zone seen at the end of 2015 (gold ~$1,050) and in fall 2018 (gold ~$1,300), both of which marked major lows before the next leg higher.
While those algorithmic traders focused on the dollar and rates, central banks kept buying. China, Poland and others continue accumulating, citing fiscal deficits, rising debt and reduced confidence in government paper. Those drivers have not changed.
Speculators reduced exposure heading into gold’s seasonally stronger period. Once price starts moving, the same computer-driven flows that sold are likely to chase it higher.
Fireworks soon.
Sorry Guys… I am travelling this week and won’t be able to upload daily market read. Will update the detailed weekly analysis on TradingView and on telegram on Sunday morning or evening…Thanks for your understanding😇
Gold London Session Update |
London pushed above Asia’s high at 4163, but the recovery struggled around 4167–4170. Gold is now back near 4152, below the monthly and quarterly open at 4160.
The daily trend remains down. I’m watching the current 30-minute close to see whether this rejection holds. Staying below 4160 keeps 4142 in focus, followed by the Asian low near 4125 if support breaks.
Buyers need to reclaim 4,163–4,170 to bring the 4,176 pivot back into focus.
Gold Asian Session Update
Gold traded between 4,125 and 4,163 in Asia, recovering towards 4,150 after testing the session low. Buyers responded, but the daily trend remains down.
I’m watching 4,163 first, followed by the pivot near 4,176. Until price reclaims and holds above this area, the recovery looks like a bounce within the broader decline.
For London, rejection near resistance keeps 4,125 in focus. A break below that low would put further downside in play. Holding above 4,176 would strengthen the recovery case.
Gold Asian Session Update
Gold traded between 4,125 and 4,163 in Asia, recovering towards 4,150 after testing the session low. Buyers responded, but the daily trend remains down.
I’m watching 4,163 first, followed by the pivot near 4,176. Until price reclaims and holds above this area, the recovery looks like a bounce within the broader decline.
For London, rejection near resistance keeps 4,125 in focus. A break below that low would put further downside in play. Holding above 4,176 would strengthen the recovery case.
🟥Gold/ XAUUSD Price Prediction for Next Week October, 2026
https://youtu.be/88-Qk0gpaFw
The US economy adds +29,000 jobs in September, well below expectations of +89,000.
The unemployment rate rose to 4.2%, above expectations of 4.1%.
August's job number was also revised down by -29,000 jobs.
This marks the third weakest jobs report of 2026.
US FINAL Q2 GDP +2.2% (CONSENSUS +1.5%)
US FINAL Q2 PCE PRICE INDEX +5.0%
US FINAL Q2 CORE PCE +3.3% (CONSENSUS +3.6%)
