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🔖XAU/USD, H4🔖 18 April 2024 Gold prices remained range bound as investors grappled with mixed fundamentals and geopolitical tensions. The yellow metal struggled to find clear direction amidst conflicting factors, including the Federal Reserve's hawkish stance and better-than-expected US economic data weighing on demand, countered by rising tensions in the Middle East bolstering safe-haven appeal. As uncertainties persist, investors are closely monitoring geopolitical developments and sanctions implementations for trading signals. Gold prices are trading flat while currently near the support level. Suggesting the commodity might trade higher. Resistance level: 2375.00, 2400.00📉 Support level: 2360.00, 2340.00📈
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🔖XAU/USD, H4🔖 9 April 2024 Gold prices maintained resilience amid escalating tensions in the Middle East and stalled ceasefire negotiations. Heightened demand for the safe-haven asset persisted as geopolitical risks intensified. Market volatility is expected to remain elevated in anticipation of the US inflation report, potentially further bolstering demand for gold. Investors are advised to closely monitor developments in US inflation data for additional trading signals amidst ongoing geopolitical uncertainties. Gold prices are trading higher following the prior breakout above the previous resistance level. Resistance level: 2350.00, 2370.00📉 Support level: 2335.00, 2320.00📈
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🔖XAU/USD, H4🔖 5 April 2024 Despite a slight slowdown in bullish momentum, gold prices maintained near-record levels as global investors treated cautiously ahead of key economic data releases. Geopolitical tensions in regions like the Middle East and ongoing crises in Russia and Ukraine, coupled with a recent earthquake in Taiwan, continued to drive safe-haven demand for gold, further supported by a weakening US Dollar. Gold prices are trading flat while currently testing the resistance level. Suggesting the commodity might trade lower. Resistance level: 2290.00, 2305.00📉 Support level: 2280.00, 2260.00📈
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🔖XAU/USD, H4🔖 3 April 2024 Gold prices continued to climb amidst weak risk appetite, driven by ongoing geopolitical tensions and anticipation of market volatility surrounding the US elections. Despite the surge in US Treasury yields, gold remained appealing to investors seeking safe-haven assets. However, concerns persist regarding the potential impact of a high interest rate environment from the Federal Reserve on gold's gains. Gold prices are trading higher following the prior breakout above the resistance level. Suggesting the commodity might enter overbought territory. Resistance level: 2295.00, 2305.00📉 Support level: 2280.00, 2265.00📈
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🔖XAU/USD, H4🔖 1 April 2024 Despite the strengthening US Dollar, safe-haven gold maintained its bullish momentum, fueled by dampened risk appetite ahead of significant events. The precious metal surged to all-time highs, marking a fifth consecutive session of gains. However, investors remain cautious as the Federal Reserve's stance on combating inflation could potentially impact gold's appeal. Monitoring further developments and potential shifts in Fed rhetoric will be crucial for traders seeking trading signals. Gold prices are trading higher following the prior breakout above the previous resistance level. Suggesting the commodity might enter overbought territory. Resistance level: 2250.00, 2280.00📉 Support level: 2215.00, 2185.00📈
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🔖XAU/USD, H4🔖 29 March 2024 Gold prices soared to a record high of $2236.25 yesterday, moving in sync with the dollar's trajectory. Despite the upbeat economic data, traders in the gold market are strategically positioning themselves ahead of the highly anticipated release of the U.S. Personal Consumption Expenditures (PCE) reading scheduled for later today. This data release will provide insights into the Federal Reserve's sentiment regarding the upcoming monetary policy. Market speculation is currently focused on the possibility of signs of easing inflation, which could potentially drive gold prices up by nearly 2% in the last session. Gold prices have broken its uptrend channel from the above, suggesting that gold prices are trading with extremely strong bullish momentum. Resistance level: 2245.00, 2258.00📉 Support level: 2217.40, 2197.35📈
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XAUUSD H4 25 March 2024 🔖XAU/USD, H4🔖 25 March 2024 Gold prices experienced a downturn as the robust US Dollar continued to dampen the appeal of non-yielding assets such as gold. The resurgence of the Dollar, particularly following signals from several major central banks, including the Swiss National Bank, hinting at potential rate cuts in 2024, weighed heavily on the precious metal market. Despite dovish sentiments expressed by some Fed members regarding rate cuts, the recent outperformance of the US economy could cloud the outlook for gold prices. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might experience technical correction. Resistance level: 2240.00, 2315.00📉 Support level: 2150.00, 2080.00📈
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🔖XAU/USD, H4🔖 22 March 2024 Gold prices dipped from record highs as the US Dollar and US Treasury yields rebounded sharply on the back of positive economic data releases and the Federal Reserve's optimistic forecast. Despite the Federal Reserve's upward revisions for the Gross Domestic Product (GDP) and the Core Personal Consumption Expenditure Price Index (PCE) for 2024, which supported the US Dollar, gold's decline was tempered by ongoing geopolitical tensions and safe-haven demand. Gold prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might extend. Resistance level: 2185.00, 2240.00📉 Support level: 2150.00, 2117.00📈
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🔖XAU/USD, H4🔖 20 March 2024 Better-than-expected inflation data from the US prompted expectations of a hawkish tone from the Federal Reserve during its interest rate decision. Consequently, US Treasury yields climbed alongside the dollar, triggering a selloff in non-yielding assets like gold. Despite this, gold may consolidate within a range ahead of key events, with investors advised to monitor closely for further trading signals, particularly from the Fed's monetary policy decisions. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 2150.00, 2235.00📉 Support level: 2080.00, 2035.00📈
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🔖XAU/USD, H4🔖 18 March 2024 Gold prices declined as the US Dollar appreciated and US Treasury yields rose, dampening demand for non-yielding assets like gold. Better-than-expected economic data from the US signalled expectations of more hawkish policies from the Federal Reserve, further weighing on gold demand. Investors are closely monitoring monetary policy decisions for trading signals amid shifting market dynamics. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 2150.00, 2235.00📉 Support level: 2080.00, 2035.00📈
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