Gold's Resilient Stance:
π Gold (XAU/USD) maintained a resilient stance, hovering around $2,040.
πͺ Resilience despite the weakening US Dollar, buoyed by a positive equities market with robust risk appetite.
Equities Market and Record Highs:
π The Nasdaq Composite achieved consecutive record highs.
π Reinforcing the positive sentiment inspired by central banks.
USD Pressure and Sliding Treasury Yields:
π Compounding the USD's pressure were sliding Treasury yields.
π Hitting lows unseen since July.
Focus on Core PCE Price Index:
π Despite a relatively quiet US macroeconomic calendar, attention is fixated on Friday's release of the Core PCE Price Index.
π¦ The Federal Reserve's favored inflation gauge, keeping speculative interests keenly attuned to potential market shifts.
Tuesday's XAU/USD Movement:
β¬οΈ On Tuesday, XAU/USD moved slightly higher and reached the upper band of the Bollinger Bands.
β¬οΈ Currently, the price is moving just below the upper band, suggesting a potential another upward movement.
Relative Strength Index (RSI):
βοΈ The Relative Strength Index (RSI) stands at 62.
π Signaling a neutral outlook for this pair.
Key Technical Levels:
π Resistance levels: $2,050, $2,068.
π Support levels: $2,031, $2,008.
π Gold (XAU/USD) maintained a resilient stance, hovering around $2,040.
πͺ Resilience despite the weakening US Dollar, buoyed by a positive equities market with robust risk appetite.
Equities Market and Record Highs:
π The Nasdaq Composite achieved consecutive record highs.
π Reinforcing the positive sentiment inspired by central banks.
USD Pressure and Sliding Treasury Yields:
π Compounding the USD's pressure were sliding Treasury yields.
π Hitting lows unseen since July.
Focus on Core PCE Price Index:
π Despite a relatively quiet US macroeconomic calendar, attention is fixated on Friday's release of the Core PCE Price Index.
π¦ The Federal Reserve's favored inflation gauge, keeping speculative interests keenly attuned to potential market shifts.
Tuesday's XAU/USD Movement:
β¬οΈ On Tuesday, XAU/USD moved slightly higher and reached the upper band of the Bollinger Bands.
β¬οΈ Currently, the price is moving just below the upper band, suggesting a potential another upward movement.
Relative Strength Index (RSI):
βοΈ The Relative Strength Index (RSI) stands at 62.
π Signaling a neutral outlook for this pair.
Key Technical Levels:
π Resistance levels: $2,050, $2,068.
π Support levels: $2,031, $2,008.