Gold -
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2497
Kijun-Sen- $2471
Gold consolidated in a narrow range after hitting a fresh all-time high. It hit a high of $2509.82 and is currently trading around $2504.
Markets eye Jackson Hole symposium and FOMC meeting minutes this week for further direction.
The easing inflation and weak US economic data have increased the probability of a rate cut by the Fed in Sep.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep increased to 75% from 47% a day ago.
US dollar index- Bearish. Minor support around 101.80/100.60 The near-term resistance is 102.50/103.
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 $2470, a break below the target of $2450/$2430/$2400. The yellow metal faces minor resistance around $2510 and a breach above will take it to the next level of $2554.
It is good to buy on dips around $2450-55 with a SL around $2430 for TP of $2510/$2550.


Urban studies: Doing research when every city is different
Stock Futures Dip as Investors Await Key Payrolls Data
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
2025 Market Outlook: Key January Events to Watch
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Energy Sector Outlook 2025: AI's Role and Market Dynamics
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
China’s Growth Faces Structural Challenges Amid Doubts Over Data 



