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#GOLD #XAUUSD
Gold Market Update:
Yesterday's CPI release sparked a wild ride, with gold surging to a peak of 2412, its highest level since May, before plummeting to 2396. The metal then rebounded to 2424, only to drop again to 2410, and finally rebounding to 2416.
Current Market Analysis:
- Gold is now trending at its lowest level of 2403-2406
- A break below this level could test the 2395 support before rebounding to 2424 or higher
- Keep in mind that today is the last trading day of the week, and the market may fluctuate as positions are established for next week
Stay vigilant and adapt your trading strategy accordingly. Wishing you all a profitable day and a great weekend.
@MarkTrader30
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#GOLD #XAUUSD
Gold Market Update:
Powell's speech and minutes sparked a rally to 2387, but the momentum was short-lived as gold retreated to 2379.60. The metal has since rebounded to the 2380s.
Today's Market Analysis
- Resistance levels: 2382-2384
- Breakout target: 2387-2392
- Failure to break out may result in a sharp decline to 2370-2365
Keep a close eye on these levels as gold prices fluctuate. Will the metal break through resistance and continue its upward trend, or will it fall back down? Stay informed and adjust your trading strategy accordingly.
@MarkTrader30
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