Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
China's Refining Industry Faces Major Shakeup Amid Challenges 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Wall Street Analysts Weigh in on Latest NFP Data 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Urban studies: Doing research when every city is different 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Add as a preferred source on Google
Gold holds above $2500 ahead of US Non-Farm Payroll data. It hits a high of $2523 yesterday and is currently trading around $2517.
US economy is expected to add 164000 in August from previous month 114000. Unemployment rate to increase 6.5% from 6.4%.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep decreased to 57% from 70% a week ago.
US dollar index- Bullish. Minor support around 101.20/100.50. The near-term resistance is 102/102.80.
Factors to watch for gold price action-
Global stock market- Bearish (Positive for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bearish (positive for gold)
Technical:
The near–term support is around $2470, a break below the target of $2449/$2430. The yellow metal faces minor resistance around $2520 and a breach above will take it to the next level of $2525/$2530.
Indicator (1-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to buy on dips around $2500 with an SL around $2490 for a TP of $2520.
