⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) dipped on Tuesday as the US Dollar showed modest recovery. However, Jerome Powell’s hint at Jackson Hole about potential rate cuts could lend support to the precious metal, as lower interest rates make gold more attractive. Rising tensions in the Middle East may also boost gold’s appeal as a safe haven.
China's central bank (PBOC) paused gold purchases for the third consecutive month in July, raising concerns. Traders are eyeing August data for new clues, but worries over China's sluggish economy and declining demand for precious metals could weigh on gold prices.
On Tuesday, the US will release its Consumer Confidence and Housing Price Index data, with the focus later in the week on GDP and PCE figures.
⭐️Personal comments NOVA: Gold price is still in an Uptrend in the long term, still needs additional sideways accumulation to create force to reach a new higher ATH.
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
עסקה פעילה
Gold price increased again around 2510 - 2520 during the European session
עסקה פעילה
The sideways trend continues around the current price range of 2500-2520 during the European session on Tuesday.
עסקה פעילה
Gold prices decreased slightly before today's CB news. Trading around the 2510 area
עסקה פעילה
The price is close to the 2520 price range when entering the US session
עסקה פעילה
Gold price continues to increase around 2520 - still waiting for the opportunity to create ATH by the end of August 2024
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