Gold (XAU/USD) Price...from Gurdip Singh

Gold (XAU/USD) Price Prediction: Uptrend Ahead Fundamental Analysis: Gold surged nearly 2% on Thursday, breaking a four-day losing streak as expectations for larger Federal Reserve rate cuts grew. Rising tensions in the Middle East also boosted gold’s appeal as a safe haven. Despite some USD strength, gold’s momentum remains strong. Technical Analysis: Gold bounced off the 50-day SMA, signaling a bullish trend. With positive momentum indicators, gold is likely to rise towards the $2,448-$2,450 range and could challenge the $2,483-$2,484 all-time high. A breakout above $2,500 could signal further gains. Don’t miss out! Two slots left for our cash reward challenge. Click the link below. https://shorturl.at/GVEql

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Product: XAU/USD (Gold) Outlook: Bullish Key Points: Gold fluctuated on Tuesday, briefly dipping to $2,349.31 before rebounding above $2,360 amid cautious trading. Federal Reserve Chair Jerome Powell's hawkish remarks on inflation supported the US Dollar, emphasizing ongoing economic uncertainties. Technical analysis shows potential for a short-term reversal near $2,388, with support at $2,342 and resistance at $2,393. Despite current sideways trends, the long-term uptrend in Gold remains favorable, offering strategic opportunities for traders. This concise summary highlights the current trends and potential movements in the XAU/USD market, appealing to both seasoned traders and those new to market analysis.

Gurdip Singh

The prediction for the XAU/USD (gold to US dollar) product is an increase. Fundamental analysis indicates several factors supporting this outlook: weak US economic data such as a lower-than-expected ADP employment report and a contraction in the services sector. These factors have weakened the dollar and boosted gold prices. Additionally, anticipation of a potential interest rate cut by the Federal Reserve due to the sluggish economy is further supporting gold's appeal. On the technical side, the bullish trend in gold prices is reinforced by a strong Relative Strength Index (RSI). The price is expected to continue rising, potentially reaching $2400 and even higher levels if key resistance points are breached. However, a drop below $2300 could signal a decline towards lower support levels

Gurdip Singh

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Gurdip Singh