XAUUSD: Gold is still on the rise and waiting for a b
Updated
Gold prices turned down slightly at the beginning of the Asian session
XAU/USD's decline has continued and the precious metal is currently trading around $2,377 today morning.
After rising above the $2,400 threshold last Friday, gold prices have adjusted back down after tensions in the Middle East were contained and are currently trading around the $2,377 threshold. However, the upward momentum of precious metals is still being maintained as risk-off sentiment is still covering the financial market.
This week, the market's focus will be on PCE data - the Fed's favorite inflation measure, which will be published on April 26. If PCE inflation continues to be higher than expected, the USD will strengthen and limit gold's rise.
XAU/USD's decline has continued and the precious metal is currently trading around $2,377 today morning.
After rising above the $2,400 threshold last Friday, gold prices have adjusted back down after tensions in the Middle East were contained and are currently trading around the $2,377 threshold. However, the upward momentum of precious metals is still being maintained as risk-off sentiment is still covering the financial market.
This week, the market's focus will be on PCE data - the Fed's favorite inflation measure, which will be published on April 26. If PCE inflation continues to be higher than expected, the USD will strengthen and limit gold's rise.
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TP3 : 2385
TP4 : 2390
TP5 : 2400
SL : 2360
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✔️TP 2380
❌SL 2355
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