⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) have pared some intraday gains but remain above the $2,500 mark during early European trading on Thursday. Wednesday's US Consumer Price Index (CPI) report showed persistent inflation, dampening hopes for a larger Fed rate cut. This boosted US Treasury yields and the Dollar, weighing on gold.
A positive tone in equity markets also limits gold’s upside. However, expectations of a Fed rate cut in September, and more easing later this year, help support prices. Traders are cautious, awaiting the US Producer Price Index (PPI) for further direction.
⭐️Personal comments NOVA: The long-term frame supports the Uptrend. We hope to see a new ATH soon
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
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Gold price sideway in the European session in the range of 2510-2520, waiting for PPI
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The market waits for PPI news - currently fluctuating around 2520
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exact bullish trend - create new intraday ATH 2542
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Fomo from the market is very high - gold price is likely to continue breaking ATH: attention price range: 2560-2590
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