XAUUSD GOLD : show potential to continue their upward trend
XAUUSD Based on the Wyckoff method, gold prices show potential to continue their upward trend, though a brief pullback to 2,657–2,656 may occur before further rising to 2,670–2,671. Currently, gold stands at $2,665 per ounce, supported by a drop in 10-year Treasury yields following weak manufacturing data from New York, enhancing gold’s appeal as a non-yielding asset. Although the dollar has eased by 0.2%, it remains near recent highs, while traders estimate a 90% probability of a 25-basis-point Fed rate cut in November. Key economic indicators, including U.S. retail sales, industrial production, and jobless claims, are in focus as signals for the Fed’s upcoming policy stance. Despite easing tensions in the Middle East, global economic and geopolitical uncertainties continue to reinforce gold’s role as a safe-haven asset.
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I think enough. I will take my profit now.... Thank you all!Note
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