XAUUSD | GOLDSPOT | New perspective | follow-up detailGold prices surged 1% on Friday as U.S. Treasury yields fell, driven by optimism for a potential interest rate cut by the Federal Reserve in September. Data showed U.S. prices rose modestly in June, giving Fed policymakers fresh evidence of progress in their battle against inflation. The personal consumption expenditures (PCE) price index increased by 0.1% last month, pushing benchmark 10-year note yields to a one-week low.
In this video, we analyze the impact of these fundamental dynamics on the Gold market and explore the technical implications on the charts. With the Federal Reserve's monetary policy decision coming up next week, the central bank is expected to keep rates unchanged. However, this meeting could set the stage for the first rate cut in September.
What can we expect from the gold market in the coming week?
XAUUSD Technical Overview:
This week, we're focusing on the crucial $2,390 level. This is a big deal for gold traders - it could be a make-or-break point. If gold stays above $2,390: Bulls might take control, potentially pushing prices higher and setting up new highs. If gold maintains selling pressure below $2,390: Bears might gain the upper hand, and prices could head south respecting the descending channel in the process. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights!
#Gold #GoldPrices #FederalReserve #InterestRates #Forex #Trading #MarketAnalysis #TechnicalAnalysis #PCE #USInflation #TreasuryYields #Investing #Finance #EconomicData #ForexTrading #XAUUSD📺🔔💼
Disclaimer Notice:
Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
