Gold rose to around $2,460 per ounce on Friday, approaching record highs and on track for a weekly gain, driven by recent weak US economic data that bolstered expectations of Federal Reserve rate cuts. Thursday's data showed US manufacturing activity contracted more than anticipated in July, with employment hitting levels not seen since 2020. Additionally, jobless claims rose to 249K, the highest in nearly a year. Investors are now awaiting the monthly jobs report later in the day for further insights. Meanwhile, the escalating risk of a broader conflict in the Middle East is enhancing gold's appeal as a safe haven. Markets are closely watching Iran's response to the assassination of Hamas leader Ismail Haniyeh, which follows the killing of Hezbollah's top commander in a Beirut airstrike.
❓NF - NEW ATH XAU - market expectations
📈SELL GOLD: 2498 - 2501
➡️SL: 2508
➡️TP1: 2483
➡️TP2: 2467
➡️TP3: 2442
📉BUY GOLD: 2420 - 2418
➡️SL 2412
➡️TP1: 2433
➡️TP2: 2442
➡️TP3: 2467
GOOD LUCK EVERYONE👍
❓NF - NEW ATH XAU - market expectations
📈SELL GOLD: 2498 - 2501
➡️SL: 2508
➡️TP1: 2483
➡️TP2: 2467
➡️TP3: 2442
📉BUY GOLD: 2420 - 2418
➡️SL 2412
➡️TP1: 2433
➡️TP2: 2442
➡️TP3: 2467
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.