U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Elliott Investment Management Takes Significant Stake in BP to Push for Value Growth 
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war? 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Urban studies: Doing research when every city is different 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
How the UK’s rollback of banking regulations could risk another financial crisis 
Do investment tax breaks work? A new study finds the evidence is ‘mixed at best’ 
Bitcoin Hits $100K Milestone Amid Optimism Over Trump Policies 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Why your retirement fund might soon include cryptocurrency 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Add as a preferred source on Google
Ichimoku Analysis (4-Hour Chart)
Tenken-Sen: $2347.97
Kijun-Sen: $2342.65
Current Price: Gold gained momentum despite strong US inflation data. It hit a high of $2361 and is currently trading around $2359.90.
US Economic Data
- US PPI: Strong (negative for gold)
Major Economic Data for the Day (May 15th, 2024):
- US CPI: Scheduled release at 12:30 pm GMT
- Retail Sales: Scheduled release at 12:30 pm GMT
CME Fed Watch Tool
- The probability of a no-rate cut in June increased to 96.7% from 91.3% a week ago.
US Dollar Index
- Current Trend: Bearish
- Support Levels: 104.50 / 103.75
- Resistance Levels: 106 / 107
Factors to Watch for Gold Price Action
- Global Stock Market: Bullish (negative for gold)
- US Dollar Index: Bearish (positive for gold)
- US 10-Year Bond Yield: Bearish (positive for gold)
Technical Analysis
-
Support Levels:
- Near-term support: $2330
- Further targets: $2320 / $2300
-
Resistance Levels:
- Minor resistance: $2360
- Further targets: $2375 / $2400 / $2420 / $2450
Trading Strategy
- Buy on Dips: Around $2330-32
- Stop Loss (SL): Around $2315
- Target Price (TP): $2400
