Gold rose above $2,470 per ounce on Wednesday, reaching a new record high, driven by increased optimism that the Federal Reserve will lower rates as early as September. Fed Chair Jerome Powell noted on Monday that June's lower-than-expected inflation boosted confidence in meeting the price growth target and added that the central bank will not wait for inflation to hit 2% before starting rate cuts. This was echoed by Fed Governor Adriana Kugler, who expressed cautious optimism on Tuesday that inflation is moving towards the target rate
🕯Technically: Currently, where gold's new peak is, we can only guess with round barriers, Sell rhythm should adjust vol appropriately.
There is no important news today, take advantage of RSI, trendline and Breakout to trade when the gold price exceeds the threshold.
Pay attention to important resistance zones. Limit SELL signals to 247x
aSELL Zone: 2,500
🟢BUY GOLD: 2451 - 2449, SL: 2445
🟢BUY GOLD: 2442 - 2440, SL: 2436
🗣️Breakout: 2465 - 2480
🔼Support: 2465 - 2455 - 2450 - 2442 - 2426 - 2418
🔽Resistance: 2500 - 2515
GOOD LUCK EVERYONE👍
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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.