Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
2025 Market Outlook: Key January Events to Watch 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Urban studies: Doing research when every city is different 
Wall Street Analysts Weigh in on Latest NFP Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2333.45
Kijun-Sen- $2328.92
Gold pared some of its gains ahead of the US FOMC meeting. It hit a low of $2317.50 at the time of writing and is currently trading around $2318.34.
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 88.40% from 83.50% a week ago.
Economic data for the day
Apr 30th, 2024, Chicago PMI (1:45 pm GMT)
US CB consumer confidence (2 pm GMT)
S&P/CS Composite-20 HPI y/y (1 pm GMT)
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 $2300, a break below targets of $2260/$2225/$2195. The yellow metal faces minor resistance around $2350 and a breach above will take it to the next level of $2375/$2400/$2420/$2450.
It is good to sell on rallies around $2368-70 with SL around $2400 for TP of $2200.
