⭐️Fundamental Analysis
Gold prices fell as investors booked profits ahead of the release of key US economic data, including PMI and PCE inflation.
The Fed minutes did not change expectations for two rate cuts this year, but maintained a cautious stance. If the economy is strong and inflation is high, the Fed may not be in a hurry to ease policy.
Gold prices may fluctuate in the short term following economic data, but are still supported by concerns about Trump's tax policies and Russia-Ukraine tensions.
Despite the correction, gold remains a safe haven, and dips can be good buying opportunities.
⭐️Technical Analysis
Gold price is heading towards 2920 and this area is the most important area for gold today. When breaking 2920, pay attention to the 2906 area for BUY signals and just wait for the test beats to sell around 2920 when this area is broken. When gold bounces from 2920, the market continues to want to increase. As long as there is any close above 2928, gold will soon regain the resistance level of 2944. Wish everyone the best trading strategy.
Gold prices fell as investors booked profits ahead of the release of key US economic data, including PMI and PCE inflation.
The Fed minutes did not change expectations for two rate cuts this year, but maintained a cautious stance. If the economy is strong and inflation is high, the Fed may not be in a hurry to ease policy.
Gold prices may fluctuate in the short term following economic data, but are still supported by concerns about Trump's tax policies and Russia-Ukraine tensions.
Despite the correction, gold remains a safe haven, and dips can be good buying opportunities.
⭐️Technical Analysis
Gold price is heading towards 2920 and this area is the most important area for gold today. When breaking 2920, pay attention to the 2906 area for BUY signals and just wait for the test beats to sell around 2920 when this area is broken. When gold bounces from 2920, the market continues to want to increase. As long as there is any close above 2928, gold will soon regain the resistance level of 2944. Wish everyone the best trading strategy.
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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.
JOIN OUR FREE TELEGRAM GROUP t.me/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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.