Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Wall Street Analysts Weigh in on Latest NFP Data 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2308
Kijun-Sen- $2337
Gold showed a minor pullback ahead of US CPI and Fed policy.It hit a high of $2319 yesterday and is currently trading around $2314.70.
Marlets expects a weak headline CPI at 0.10% m/m from 0.30% previous month. Core CPI is expected to rise by 0.30% m/m from 0% in Apr. Any hawkish rate pause will drag the precious metal further down.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep decreased to 48.30% from 57.20% a week ago.
US dollar index- Bullish. Minor support around 104/103. The near-term resistance is 106/107.
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 $2280, a break below the target of $2270/$2250/$2228. 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.
