gold buy confirm
Updated
Gold price (XAU/USD) enters a bullish consolidation phase during the early European session and oscillates in a narrow band around the $2,260$2,265 region, or a fresh record high touched this Monday.
Gold price (XAU/USD) enters a bullish consolidation phase during the early European session and oscillates in a narrow band around the $2,260$2,265 region, or a fresh record high touched this Monday. Investors now seem convinced that the Federal Reserve (Fed) will start cutting rates in June and the bets were reaffirmed by the US Personal Consumption Expenditures (PCE) Price Index on Friday. This, along with geopolitical risks stemming from the protracted Russia-Ukraine war and the recent conflicts in the Middle East, lend additional support to the safe-haven precious metal.
Meanwhile, data released on Sunday showed that China's manufacturing activity expanded for the first time in six months in March and boosted investors' confidence. This remains supportive of the prevalent risk-on environment and holds back bulls from placing fresh bets around the Gold price amid overstretched conditions on the daily chart. Apart from this, the emergence of some US Dollar (USD) buying contributes to capping gains for the commodity, though the aforementioned fundamental backdrop suggests that the path of least resistance for the XAU/USD remains to the upside.
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
gold now buy 2249
TP1 2255
TP2 2265
TP3 2280
SL 2230
Gold price (XAU/USD) enters a bullish consolidation phase during the early European session and oscillates in a narrow band around the $2,260$2,265 region, or a fresh record high touched this Monday. Investors now seem convinced that the Federal Reserve (Fed) will start cutting rates in June and the bets were reaffirmed by the US Personal Consumption Expenditures (PCE) Price Index on Friday. This, along with geopolitical risks stemming from the protracted Russia-Ukraine war and the recent conflicts in the Middle East, lend additional support to the safe-haven precious metal.
Meanwhile, data released on Sunday showed that China's manufacturing activity expanded for the first time in six months in March and boosted investors' confidence. This remains supportive of the prevalent risk-on environment and holds back bulls from placing fresh bets around the Gold price amid overstretched conditions on the daily chart. Apart from this, the emergence of some US Dollar (USD) buying contributes to capping gains for the commodity, though the aforementioned fundamental backdrop suggests that the path of least resistance for the XAU/USD remains to the upside.
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
gold now buy 2249
TP1 2255
TP2 2265
TP3 2280
SL 2230
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