U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Urban studies: Doing research when every city is different 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Stock Futures Dip as Investors Await Key Payrolls Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
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 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2318.39
Kijun-Sen- $2318.70
Gold trades are weak despite weak US inflation data. It hit a high of $2336 and is currently trading around $2318.40.
Economic data
US CPI- Weak (bullish for gold)
US PPI - weak (positive for gold)
US jobless claims - negative (bearish for gold)
The yellow metal pared most of its after the hawkish Fed rate pause. In the new dot plot, the central bank has reduced the rate cut from three to one this year. The easing of inflation supports the precious metal at lower levels.
Major central banks monetary policy this week-
June 20th, 2024- SNB Monetary policy ( 7:30 am GMT)
BOE Monetary policy (11 am GMT)
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep increased to 61.10% from 46.60% a week ago.
US dollar index- Bullish. Minor support around 104/103. The near-term resistance is 105.50/107.
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- Bearish (Positive for gold)
Technical:
The near–term support is around $2280, a break below the target of $2270/$2250/$2228. The yellow metal faces minor resistance around $2320 and a breach above will take it to the next level of $2340/$2350/$2375.
It is good to sell on rallies around $2328-30 with SL around $2340 for TP of $2252.
