US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
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 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Stock Futures Dip as Investors Await Key Payrolls Data 
Add as a preferred source on Google
Gold surged sharply after the Fed’s Chairman's speech at the Jackson Hole symposium. It hit a high of $2521.86 and is currently trading around $2520.
Market eyes on US Personal Consumption Expenditure (PCE) data on Friday for further direction.
According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep increased to 38.50% from 24% a week ago.
US dollar index- Bearish. Minor support around 100.60/100. The near-term resistance is 102.50/103.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bearish (positive for gold)
US10-year bond yield- Bearish (positive for gold)
Technical:
The near–term support is around $2495 (34 -4H EMA), a break below the target of $2485(55 -4H EMA)/$2470/$2430/$2400. The yellow metal faces minor resistance around $2525 and a breach above will take it to the next level of $2535/$2554.
Indicator (4-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Neutral. So good to go to buy on dips.
It is good to buy on dips around $2490-92 with an SL of around $2470 for a TP of $2525/$2550.
