GDP, the highlight for gold price growth or not ?

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold is experiencing modest gains but remains stuck within a narrow range during Tuesday's mid-North American session. This is supported by the decrease in US Treasury bond yields, which in turn weakens the US Dollar Index (DXY) by 0.05%. Currently, XAU/USD is trading at $2,034.88, showing a gain of 0.18%.

Gold is hovering around the 50-day Simple Moving Average (SMA) at $2,033.48 as investors prepare for the release of the latest Personal Consumption Expenditures (PCE) report. This report serves as the Federal Reserve's (Fed) measure of inflation. Along with the most recent Gross Domestic Product (GDP) data, these factors could potentially trigger a breakout in the price of gold from its current trading range of $2,020 to $2,050.

⭐️Personal comments NOVA:
Gold price is still in an Uptrend, today's GDP news could help Gold reach $2050

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2020 - $2022 SL $2015 maybe scalping $2025-$2027
TP1: $2030
TP2: $2038
TP3: $2050


🔥SELL GOLD zone: $2048 - $2050 SL $2055 maybe scalping $2042-$2044
TP1: $2040
TP2: $2035
TP3: $2030

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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

Comment:

Gold price decreased slightly around $2030

Comment:

Gold price drops before today's GDP news, waiting for PLAN DAY BUY $2020-$2022

Comment:

+ 25 pips , scalping PLAN BUY 2025-2027

Comment:

+ 120 pips , scalping PLAN DAY BUY 2025-2027

Comment:

GDP news has hardly changed Gold prices too much