👉🏼 Possible scenario:
Gold (XAU) fell 1.74% on May 8 following the announcement of a new U.S.-UK trade deal, which eased global trade tensions and reduced safe-haven demand. The Federal Reserve kept rates steady, warning of inflation and labor market risks, but signaled no immediate rate cuts. Despite the drop, gold remains on track for a weekly gain amid lingering market caution.
May 9 brings a quiet macro calendar, but traders should watch for updates on U.S. trade relations.
✅ Support and Resistance Levels
Support level is now located at 3,195.00 .
Now, the resistance level is located at 3,495,00
Gold (XAU) fell 1.74% on May 8 following the announcement of a new U.S.-UK trade deal, which eased global trade tensions and reduced safe-haven demand. The Federal Reserve kept rates steady, warning of inflation and labor market risks, but signaled no immediate rate cuts. Despite the drop, gold remains on track for a weekly gain amid lingering market caution.
May 9 brings a quiet macro calendar, but traders should watch for updates on U.S. trade relations.
✅ Support and Resistance Levels
Support level is now located at 3,195.00 .
Now, the resistance level is located at 3,495,00
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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.
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.