👉🏼 Possible scenario:
Gold rose 1.07% for a second session as a weaker U.S. dollar and fiscal concerns supported prices. The Senate's approval of Trump’s $3.3T tax-and-spending bill raised debt fears, while trade tensions with Japan added uncertainty.
Fed Chair Powell signaled a patient stance on rate cuts but left the door open for easing, reinforcing support for gold. Meanwhile, a 60-day Gaza ceasefire reduced geopolitical risk, triggering some profit-taking.
✅Support and Resistance Levels
Support level is now located at 3,245.00.
Now, the resistance level is located at 3,400.00.
Gold rose 1.07% for a second session as a weaker U.S. dollar and fiscal concerns supported prices. The Senate's approval of Trump’s $3.3T tax-and-spending bill raised debt fears, while trade tensions with Japan added uncertainty.
Fed Chair Powell signaled a patient stance on rate cuts but left the door open for easing, reinforcing support for gold. Meanwhile, a 60-day Gaza ceasefire reduced geopolitical risk, triggering some profit-taking.
✅Support and Resistance Levels
Support level is now located at 3,245.00.
Now, the resistance level is located at 3,400.00.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.