Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
AI is supercharging money scams – here’s what you can do to protect yourself 
‘Buy now, pay later’ doesn’t feel like debt. For young people, that can be a big problem 
Big AI wants to slow down AI research. Is it a safety pause or a strategic retreat? 
Synthetic data could ease people’s concerns about privacy breaches. But who gets to create it? 
What is Zionism? The different meanings of a contested term 
China’s robots can run faster than Usain Bolt – now they are being prepared for war 
Banking scandal rocks Brazil’s politics and the country’s presidential election in October 
Add as a preferred source on Google
Gold after rising sharply beyond $1150 area (our target) to trade as high as $1168, dropped sharply towards $1150 area.
So what has hit gold today
- Key resistance - $1168-70/troy ounce is a key resistance for Gold. Gold bugs were able to defend the area since March, this year before souring in July.
- Profit booking before weekend - Profit booking at key resistance before the week ends might have contributed to Gold's sharp drop today.
- Bears not ready to give in yet - Longer term bears have used the opportunity to go short around key level.
- Dollar selloffs moderated - Dollar which has been hit by massive selloff this week and contributed to Gold's rise, moderated today somewhat.
- Risk aversion eases - Gold which had benefitted from massive risk aversion hitting equities have slightly moderated heading into weekend. S&P500 is unlikely to clear below Asian session low as weekend approaches.
What lies ahead -
- Gold has reached out anticipated target of $1150 mark and to key resistance area. We can expect some fight between bulls (charged up) and bears (long term) around key resistance area.
- So there might be some consolidation ahead before one can win over other. It is better to wait and watch before further moves or positioning.
Gold is currently trading at $1155/troy ounce.
