Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Silver Spikes to $62.89 on Fed Cut – But Weekly Bearish Divergence Flashes Caution: Don’t Chase, Wait for the Dip 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Bearish divergence- CCI(50)(Weekly chart)
Gold pared most of its gains due to profit booking. It hits an high of $3500 at the time of writing and is currently trading around $3450.
Rate Cut Expectations on the Rise
According to the CME Fed Watch tool, the chances of 25 bpbs rate cut in June 18th 2025 meeting have increased to 62.10% from 60.10% a week ago.
Technical Analysis: Key Levels and Trading Strategy
Gold prices are holding below short term moving average 34 EMA and 55 EMA and above long-term moving averages (200 EMA) in the 15 min chart. Immediate support is at $3440 and a break below this level will drag the yellow metal to $3430/$3397/$3365/$3300/$3268. The near-term resistance is at $3500 with potential price targets at $3525/$3560.
It is good to sell on rallies around $3463-65 with a stop-loss at $3500 for a target price of $3300/$3270.
