⭐️GOLDEN INFORMATION: The price of gold (XAU/USD) is trading without much movement during the early Asian session on Monday. However, the increase in the value of the precious metal is being supported by the weaker US Producer Price Index (PPI) data and escalating tensions in the Middle East. Currently, the gold price stands at $2,045, experiencing a minimal decrease of 0.01% for the day.
On Friday, the US Producer Price Index (PPI) for December saw a yearly increase of 1.0%, compared to the revised 0.8% growth in November. This figure fell below market expectations of 1.3%. The annual core PPI, which excludes volatile food and energy prices, rose by 1.8% in December, down from the previous reading of 2.0% and lower than the market consensus of 1.9%. The monthly core PPI remained unchanged for the third consecutive month.
⭐️Personal comments NOVA: After PPI data decreased compared to expectations last week, along with the tense military situation in the Middle East, Gold prices continued to have a positive start in the Asian session on Monday.
⭐️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
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Gold prices increased slightly in the Asian session, amid the US bank holiday. Gold price cannot surpass the 2060 zone today
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Gold price is currently sideways around the 2055-2060 range, waiting for greater motivation to increase the price further
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Gold prices continue to sideways in the US session. Waiting for the FOMC meeting tomorrow
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The 2060 zone will soon be broken, buying pressure is gradually taking over
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Gold prices decreased slightly at the beginning of the Asian session . Zone 2050
still can be possible I think, do you think price can bounce from support level 2033 ?
Nova-Scalper
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@FirstNameHelen, The price is under selling pressure, adjusting back to the 2025 area today. but NOVA still thinks it will return to rising momentum early this week
Nova-Scalper
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Hello everyone, what do you think about today's Gold price?