Gold remains under pressure after a false breakout at $3,350, as the dollar's sudden strength dominates the market. Despite Powell's slightly dovish tone, Tuesday's PMI and JOLTs job data favored the dollar, keeping the market in limbo. Technically, gold has established a new range between $3,350 and $3,300. A drop to the lower end of this range could spark short-term buying opportunities. With the ADP numbers on the horizon, the market awaits further cues.
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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.