Gold price and PMI news today !! XAU

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) continues to experience selling pressure for the second consecutive day on Monday. It appears susceptible to extending the retracement slide from the $2,065 region, which marked a one-month peak. The strong US jobs report released on Friday confirmed market expectations of the Federal Reserve (Fed) maintaining higher interest rates for a longer period. This has supported the rise in US Treasury bond yields and boosted the US Dollar (USD) to its highest level since December 11. Consequently, this development is considered a significant factor that undermines the value of gold.

Furthermore, the overall bullish sentiment in global equity markets adds to the negative tone surrounding the price of gold. However, there is still a risk of further escalation of military action in the Middle East and ongoing concerns about a slowdown in China, which provide support for the safe-haven asset XAU/USD. As a result, bearish traders should exercise caution. Traders are now focusing on the release of the US ISM Services PMI, along with US bond yields, USD price movements, and overall market sentiment. These factors are expected to provide some momentum for gold.

⭐️Personal comments NOVA:
Gold price sideways in the 2030-2040 price range waiting for PMI news, the DOWN trend is supporting because the FED supports not reducing interest rates in March

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2021 - $2023 SL $2015
TP1: $2030
TP2: $2040
TP3: $2052

🔥SELL GOLD zone: $2051 - $2053 SL $2060
TP1: $2044
TP2: $2037
TP3: $2030

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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 prices decreased slightly, still under selling pressure from the information that the Fed would not reduce interest rates in March

Comment:

+ 20 pips , entry Plan day : BUY 2021-2023

Comment:

+ 30 pips , entry Plan day : BUY 2021-2023

Comment:

+ 40 pips for signal BUY 2021-2023

Comment:

+ 70 pips, signal buy 2021-2023

Comment:

Actual result PMI 64.0 > 52.0 (much higher). Information is good for the dollar, bad for Gold.

Gold prices continue to be under selling pressure from news. The correction may continue, sideways and regain upward momentum in the second quarter of 2024.

Comment:

Gold price suddenly rose again above the $2020 area, continuing to accumulate sideways