China's Refining Industry Faces Major Shakeup Amid Challenges 
Wall Street Analysts Weigh in on Latest NFP Data 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Stock Futures Dip as Investors Await Key Payrolls Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Add as a preferred source on Google
Gold -
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2357
Kijun-Sen- $2341
Gold showed a nice pullback on board-based US dollar selling. It hit a high of $2367 at the time of writing and is currently trading around $2366.
US economic data
US ADP employment- Weak (positive for gold)
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep decreased to 59.90% from 56.30% a week ago.
US dollar index- Bullish. Minor support around 105.50/104. The near-term resistance is 106.20/107.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bearish (positive for gold)
US10-year bond yield- Bearish (positive for gold)
Technical:
The near–term support is around $2340, a break below the target of $2320/$2300/$2260/$2250. The yellow metal faces minor resistance around $2370 and a breach above will take it to the next level of $2400$2425.
It is good to buy on dips around $2340 with an SL of around $2320 for a TP of $2400.
