XAU SOON DROP FROM AROUND 2,670
Smart Money Concept
For over the U.S. President-elect Donald Trump's proposed trade tariffs have boosted investor confidence, as seen in the generally positive sentiment across equity markets. Additionally, a strong U.S. jobs report has reinforced expectations that the Federal Reserve will pause its rate cuts later this month.
This has kept U.S. Treasury bond yields elevated, potentially curbing traders' appetite for aggressive bullish positions on non-yielding gold. Market attention now turns to upcoming U.S. consumer inflation data for further direction.
Sell Gold Zone: $2697.61 - $2699.59
Stop Loss (SL): $2703
Take Profit (TP) Levels:
TP1: $2690.64
TP2: $2680.79
TP3: $2670.78
Note:
FrankFx advises traders to manage their capital wisely:
- Adjust the number of lots to match your capital.
- Set Take Profit at 3-6% of your account balance.
- Set Stop Loss at 2-3% of your account balance.
For over the U.S. President-elect Donald Trump's proposed trade tariffs have boosted investor confidence, as seen in the generally positive sentiment across equity markets. Additionally, a strong U.S. jobs report has reinforced expectations that the Federal Reserve will pause its rate cuts later this month.
This has kept U.S. Treasury bond yields elevated, potentially curbing traders' appetite for aggressive bullish positions on non-yielding gold. Market attention now turns to upcoming U.S. consumer inflation data for further direction.
Sell Gold Zone: $2697.61 - $2699.59
Stop Loss (SL): $2703
Take Profit (TP) Levels:
TP1: $2690.64
TP2: $2680.79
TP3: $2670.78
Note:
FrankFx advises traders to manage their capital wisely:
- Adjust the number of lots to match your capital.
- Set Take Profit at 3-6% of your account balance.
- Set Stop Loss at 2-3% of your account balance.
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