Part II — The listing: NFTs as bottle-stamps, and a vault the family is in no rush to sell 
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies 
Europe Heatwave Creates Growth Opportunity for Carrier, Trane, and Johnson Controls, Citi Says 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold is down for fourth consecutive day and heading into its third consecutive weekly fall, however carried away in the near term may prove a bit risky, especially in a week of heavy event risks.
As we discussed in previous outlook, most likely move for gold to be downwards, given FED's emphasis on the final meeting of the year as a possible rate hike date. So as discussed Gold is heading towards its support area around $1120-1125/troy ounce area.
As of today, it is very close to its support trading around, $1130/troy ounce. If price reaches support area, ahead of NFP report on Friday, it could be anybody's game. Bulls might push gold higher, if NFP report surprises to the downside.
Trade idea -
- Any fresh position is not recommended ahead of NFP and close to support, however bears who are holding short position might go for partial profit book close to support. Rest can be traded at NFP with tight stop loss.
