US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Stock Futures Dip as Investors Await Key Payrolls Data 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Gold holds above $2500 ahead of US Non-Farm Payroll data. It hits a high of $2523 yesterday and is currently trading around $2517.
US economy is expected to add 164000 in August from previous month 114000. Unemployment rate to increase 6.5% from 6.4%.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep decreased to 57% from 70% a week ago.
US dollar index- Bullish. Minor support around 101.20/100.50. The near-term resistance is 102/102.80.
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- Bearish (positive for gold)
Technical:
The near–term support is around $2470, a break below the target of $2449/$2430. The yellow metal faces minor resistance around $2520 and a breach above will take it to the next level of $2525/$2530.
Indicator (1-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to buy on dips around $2500 with an SL around $2490 for a TP of $2520.
