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.
Trade active
BUY Limit 2369 - 2371TP 2375
TP2 : 2380
TP3 : 2385
TP4 : 2390
TP5 : 2400
SL : 2360
Note
hit entry Limit 🔝🔝🔝Note
⚡️ running + 30 pips - Move SL to Entry🔼🔼🔼⏫⏫⏫Note
💵XAUUSD BUY 2361- 2363💵✔️TP 2370
✔️TP 2380
❌SL 2355
Note
Hit TP1 80 pips
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Related publications
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.