Gold prices are still increasing in price ! UP

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold remains stable around $2,030 on Wednesday, showing a slight increase of 0.17%. This comes after the US Bureau of Economic Analysis (BEA) announced that the country's economy has grown. The decline in US Treasury bond yields has kept the value of gold close to its monthly and weekly highs, although it is still limited by the 50-day Simple Moving Average (SMA).

On Wall Street, most stock market indices are experiencing little to no change, with some even showing a slight decrease. The Gross Domestic Product (GDP) for the last quarter of 2023 expanded slightly less than what was expected according to consensus and preliminary readings. Additionally, Retail and Wholesale Inventories have shown mixed results.

Federal Reserve (Fed) Regional Presidents Susan Collins and John Williams have made statements. They have reiterated their previous remarks about potentially implementing looser monetary policies later in the year. They also emphasized that the core inflation rate has not yet reached the desired 2% goal.

⭐️Personal comments NOVA:
In the context of unstable US economic data, bad for the dollar, good for Gold. Gold prices continue to be supported moving towards higher price ranges

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2028 - $2030 SL $2022
TP1: $2036
TP2: $2042
TP3: $2050


🔥SELL GOLD zone: $2048 - $2050 SL $2055
TP1: $2044
TP2: $2038
TP3: $2031

⭐️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:

The price of gold (XAU/USD) is slightly increasing in the Asian session on Thursday and aims to continue the small rebound from the $2,025-2,024 range, which was the weekly low. However, the valuable metal is still below the strong horizontal barrier of $2,040-2,042 as traders eagerly anticipate the release of the US Personal Consumption Expenditures (PCE) Price Index. This crucial inflation data will offer new insights into the Federal Reserve's (Fed) plans for interest rate cuts, which will ultimately impact the future direction of gold, a non-yielding asset.

Comment:

Gold price is still trading increasing today, approaching $2040

Comment:

+ 50 pips , for entry SELL 2037-2039

Comment:

+ 35 pips , signal PLAN DAY BUY 2028-2030

Comment:

+ 150 pips, PLAN DAY BUY 2028-2030

Comment:

+ 220 pips , signal Plan day BUY 2028-2030. FULL TP

Comment:

+ 50 pips, signal PLAN DAY SELL 2048-2050

Comment:

+ 70 pips , PLAN DAY SELL 2048-2050

Comment:

Prices are still sideways after the information from the FOMC meeting was nothing special. Currently trading around $2045