⭐️GOLDEN INFORMATION: Traders may also be hesitant and inclined to wait on the sidelines prior to the commencement of the two-day FOMC monetary policy meeting, scheduled to begin next Tuesday. In the interim, the release of Thursday's US macroeconomic data, including the monthly Retail Sales, the Producer Price Index (PPI), and the customary Weekly Initial Jobless Claims, could potentially impact the dynamics of the USD price. These factors, along with US bond yields and overall market sentiment, may play a role in creating short-term trading prospects within the Gold price.
⭐️Personal comments NOVA: Continuing to expect a correction from Gold, US economic data this week is assessed optimistically
Need price range of $2100 for Gold to accumulate more buying power
⭐️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
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Gold prices decreased in the Asian trading session, waiting for positive PPI news for the dollar
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Gold price is still sideways around 2170, waiting for PPI news today
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Gold price has a downward correction trend, positive data is good for the dollar
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3 good news and 2 bad news for the dollar: Gold price main downtrend. US economic data this week continues to support the dollar, gold prices fall.
Not yet falling sharply, price is still around $2,162
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Good PPI data has not caused Gold prices to continue to decline. Sideways around $2160