Gold Prices Hover Near $2,640 as Dollar Weakens Ahead of U.S.
The market opened around $2,643 and dipped slightly, trading near $2,639. This movement is driven by various factors, including easing pressure from the U.S. dollar ahead of the upcoming Consumer Price Index (CPI) report. Economic data, such as the U.S. trade balance, is expected to influence gold prices further, along with speeches from Federal Reserve members which could offer insights into future monetary policy
Technically, the market is showing mixed signals. The Relative Strength Index (RSI) is neutral, while some indicators such as MACD are suggesting a sell position.
In the short term, market participants are advised to monitor key U.S. economic data and inflation trends to gauge gold's next move.
Technically, the market is showing mixed signals. The Relative Strength Index (RSI) is neutral, while some indicators such as MACD are suggesting a sell position.
In the short term, market participants are advised to monitor key U.S. economic data and inflation trends to gauge gold's next move.
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