Gold will rise further!
Updated
Gold was supported by weaker core inflation data in the United States, reinforcing expectations of a rate cut by the Federal Reserve later this year. Traders currently expect the possibility of two rate cuts before the end of the year, with the first likely in June. At the same time, easing inflation and falling bond yields put pressure on the US dollar, creating additional positive factors for gold. Geopolitical stability curbs safe-haven demand. Although bullish factors dominate, gold's rise has been curbed by geopolitical developments, including a ceasefire agreement between Israel and Hamas. The easing of tensions in the Middle East has reduced gold's safe-haven demand, which had previously driven gold prices higher. Gold maintained a strong upward breakthrough today, and after stabilizing at the 2689-2699 points, there was a long continuation. The upper strength is now $2725. Considering the retreat layout of long orders in today's operation, the high altitude should be considered after the breakthrough of the strength and weakness points.
Gold plan today: buy in the 2705-2710 area, TP 2725-2730, SL 2700.
Gold plan today: buy in the 2705-2710 area, TP 2725-2730, SL 2700.
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