Gold prices traded slightly lower from a record high hit in the previous session on Wednesday, supported by safe-haven demand fueled by geopolitical tensions and tariff uncertainty, while traders awaited a Federal Reserve policy decision.
Israeli airstrikes hit Gaza and killed more than 400 people on Tuesday, Palestinian health officials said, breaking nearly two months of peace since a ceasefire took effect, while Israel warned that the attack was "just the beginning".
Investors are concerned about the economic slowdown and the risk of a recession rising due to US President Donald Trump's tariffs, which are seen as likely to fuel inflation.
XAUUSD trading strategy around the price zone:
SELL XAUUSD around 3038-3040
Stoploss: 3045
Take Profit 1: 3032
Take Profit 2: 3028
Take Profit 3: 3023
BUY XAUUSD around 3002-3004
Stoploss: 2998
Take Profit 1: 3010
Take Profit 2: 3015
Take Profit 3: 3020
Note: Always set Stoploss in all cases to be safe
Israeli airstrikes hit Gaza and killed more than 400 people on Tuesday, Palestinian health officials said, breaking nearly two months of peace since a ceasefire took effect, while Israel warned that the attack was "just the beginning".
Investors are concerned about the economic slowdown and the risk of a recession rising due to US President Donald Trump's tariffs, which are seen as likely to fuel inflation.
XAUUSD trading strategy around the price zone:
SELL XAUUSD around 3038-3040
Stoploss: 3045
Take Profit 1: 3032
Take Profit 2: 3028
Take Profit 3: 3023
BUY XAUUSD around 3002-3004
Stoploss: 2998
Take Profit 1: 3010
Take Profit 2: 3015
Take Profit 3: 3020
Note: Always set Stoploss in all cases to be safe
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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.