XAUUSD - Prospects continue to increase!

Gold Price Update:
Hey everyone! Gold is making moves, hitting the $2,357 mark early Wednesday thanks to a weaker USD after the US Producer Price Index (PPI) data dropped. The numbers showed inflation is still in the mix, with the monthly PPI up 0.5% in April, a jump from -0.1% in March, and beating the expected 0.3%.

Looking Ahead:
Gold has found new support around $2,335 after touching the 34 EMA. It's currently on an upward trend, cruising above the 34 and 89 EMAs. This is a positive sign for XAUUSD and is looking good for buyers this week.

I’m feeling bullish on gold in the short and medium term. What about you? What’s your take?

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Trade closed: target reached