XAU/USD Update: Bear... dari Gurdip Singh

XAU/USD Update: Bearish Trend Ahead? Prediction: Increase Fundamental Analysis: XAU/USD continues to dip, trading around $2,380 as market panic subsides. Stock markets are rebounding, reducing gold’s appeal, while US bond yields rise, strengthening the US Dollar. Despite concerns about the US economy, expectations for significant interest rate cuts persist. Technical Analysis: Gold is testing the 50% Fibonacci retracement of its June/July rally at $2,388.70, with technical indicators suggesting a bearish outlook. Recent support around $2,411.20 may weaken, while the 4-hour chart shows stronger bearish signals. Support Levels: 2,372.90, 2,366.00, 2,352.40 Resistance Levels: 2,411.20, 2,424.10, 2,438.80 For detailed insights, click the link: https://shorturl.at/Fwn9p

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Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: Producer prices surged, yet failed to cool gold's ascent. Gold poised above $2,400 for two weeks; new highs anticipated. Powell's dovish remarks and lower CPI inflation boost gold's momentum. Core inflation at 3.0%, lowest since April 2021, fuels optimism. Technical Analysis: XAU/USD nears $2,450 peak, consolidating since April within $2,280-$2,450. Long-term trend bullish, likely breaking above current range soon

Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: - This week, all eyes are on the U.S. economic calendar, packed with crucial data releases. - Speculation about potential U.S. interest rate cuts has bolstered the dollar while pushing down Treasury yields. - Gold prices have surged past $2,400 following a recent slump, driven by market reactions to economic indicators. - India's decision to slash gold and silver import taxes from 15% to 6% has ignited optimism, potentially boosting global gold demand. - Analysts believe this move could spur consumer interest and combat illegal trading activities in India's gold market. Technical Analysis: - After a recent stabilization, gold prices are showing promising signs of an upward trend. - The Relative Strength Index (RSI) indicates bullish momentum, suggesting growing buying pressure. - Key resistance levels to watch include $2,412, $2,450, with potential to challenge the all-time high near $2,483. - On the downside, $2,384 marks a critical support level, followed by the 50-day Simple Moving Average (SMA) at $2,359.

Gurdip Singh