Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
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China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
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UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Wall Street Analysts Weigh in on Latest NFP Data 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2337.38
Kijun-Sen- $2343.28
Gold trades flat ahead of US PCE data. It hit a low of $2328 at the time of writing and is currently trading around $2334.50.
The US real gross domestic product in the first quarter came at 1.3% below forecast of 1.6%
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 98.9% from 98.90% 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- Bullish (negative for gold)
Technical:
The near–term support is around $2320, a break below the targets of $2300/$2285/$2270. The yellow metal faces minor resistance around $2365 and a breach above will take it to the next level of $2375/ $2400/$2420/$2450.
It is good to buy on dips around $2300 with SL around $2270 for TP of $2500.
