Yesterday, gold prices continued to trade within a tight range of 3,340–3,355 USD, reflecting the tug-of-war between buyers and sellers. Selling pressure is still present but not strong enough to break the key support level.
On the news front: Both the U.S. Core PPI m/m and PPI m/m are forecast to rise 0.2% (vs. 0.0% previously), while unemployment claims are expected to dip from 226K to 225K. This signals inflationary pressure from the production side and a resilient labor market, which could prompt the Fed to maintain a tight monetary policy. A stronger USD puts short-term downward pressure on gold.
From the chart: Gold is moving within a sideway range of 3,340 – 3,363 USD after being rejected at the 3,363 USD resistance zone. The price structure shows consolidation with minor technical pullbacks. The 3,312 USD support remains intact; if it holds, buyers may step back in.
Suggested strategy:
Look for buy opportunities around 3,312 – 3,320 USD if support holds, with a target at 3,363 USD. Place stop-loss below 3,305 USD to limit risk.
Question: Do you think gold has enough momentum to break 3,363 USD and start a new bullish leg this week?
On the news front: Both the U.S. Core PPI m/m and PPI m/m are forecast to rise 0.2% (vs. 0.0% previously), while unemployment claims are expected to dip from 226K to 225K. This signals inflationary pressure from the production side and a resilient labor market, which could prompt the Fed to maintain a tight monetary policy. A stronger USD puts short-term downward pressure on gold.
From the chart: Gold is moving within a sideway range of 3,340 – 3,363 USD after being rejected at the 3,363 USD resistance zone. The price structure shows consolidation with minor technical pullbacks. The 3,312 USD support remains intact; if it holds, buyers may step back in.
Suggested strategy:
Look for buy opportunities around 3,312 – 3,320 USD if support holds, with a target at 3,363 USD. Place stop-loss below 3,305 USD to limit risk.
Question: Do you think gold has enough momentum to break 3,363 USD and start a new bullish leg this week?
Trade active
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.