Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2300
Kijun-Sen- $2337
Gold trades weak on USD strength. It hit a low of $2387 yesterday and is currently trading around $2302.
The yellow metal showed a minor sell-off after China central bank paused gold purchase.
Markets await US CPI and Fed monetary policy for further direection. The precious metal showed a minor pullback after ECB and BOC rate cut.
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 99.4% from 98.50% a week ago.
US dollar index- Bearish. Minor support around 104/103. The near-term resistance is 105/106.50.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bearish (Positive for gold)
Technical:
The near–term support is around $2290, a break below the target of $2270/$2250. The yellow metal faces minor resistance around $2320 and a breach above will take it to the next level of $2340/$2350/$2375.
It is good to sell on rallies around $2315-18 with SL around $2340 for TP of $2252.


Urban studies: Doing research when every city is different
Wall Street Analysts Weigh in on Latest NFP Data
China's Refining Industry Faces Major Shakeup Amid Challenges
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
Stock Futures Dip as Investors Await Key Payrolls Data
Geopolitical Shocks That Could Reshape Financial Markets in 2025
European Stocks Rally on Chinese Growth and Mining Merger Speculation
US Gas Market Poised for Supercycle: Bernstein Analysts
2025 Market Outlook: Key January Events to Watch
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 



