Gold -
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2303.19
Kijun-Sen- $2261
Gold pared most of its gains after hitting a fresh all-time high. The yellow metal hit a low of $2324 yesterday and is currently trading around $2371.15.
The strong US inflation has increased the chance of the Fed delaying rate cuts. Markets eye Israel's reaction to Iran's attack. Any escalation of tension in the Middle East will push gold prices higher on safe-haven demand.
US economic data-
US Retail sales - Strong (Negative for Gold)
Economic data to be released today-
US building permits (12:30 pm GMT)
US industrial production (1:15 pm GMT)
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 77% from 42.60% a week ago.
US dollar index- Bullish. Minor support around 105.80/105. The near-term resistance is 106.50/107.40.
Factors to watch for gold price action-
Global stock market- Bearish (positive for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $2350, a break below targets of $2318/$2300. The yellow metal faces minor resistance around $2400 and a breach above will take it to the next level of $2420/$2450.
It is good to buy on dips around $2338-40 with SL around $2319 for TP of $2400.


Geopolitical Shocks That Could Reshape Financial Markets in 2025
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
Energy Sector Outlook 2025: AI's Role and Market Dynamics
US Gas Market Poised for Supercycle: Bernstein Analysts
Urban studies: Doing research when every city is different
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 



