Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2336
Kijun-Sen- $2379
Gold was one of the worst performers last week, on a strong US dollar.w It hit a low of $2325 yesterday and is currently trading around $23338.70.
The minutes for FOMC monetary policy were hawkish as many policymakers wanted to keep rates on hold for a longer period till inflation cools down below 2%.
The US S&P Global Composite flash manufacturing PMI and services PMI exceeded market expectations.
US new home sales and existing home sales came below forecast. fell 4.7% to an annual rate of 634000 in Apr, below the revised rate of 665000.
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 99.10% from 91.1% a week ago.
US dollar index- Bearish. Minor support around 104/103. The near-term resistance is 105/106.50.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $2325, a break below the targets of $2300/$2285/$2270. The yellow metal faces minor resistance around $2350 and a breach above will take it to the next level of $2375/ $2400/$2420/$2450.
It is good to buy on dips around $2300 with SL around $2270 for TP of $2500.


Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Stock Futures Dip as Investors Await Key Payrolls Data
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Urban studies: Doing research when every city is different
Wall Street Analysts Weigh in on Latest NFP Data
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
2025 Market Outlook: Key January Events to Watch
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Geopolitical Shocks That Could Reshape Financial Markets in 2025
US Gas Market Poised for Supercycle: Bernstein Analysts
China's Refining Industry Faces Major Shakeup Amid Challenges
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 



