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Gold continued its downward trend at the beginning of the week

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⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) edges higher after dipping to the $2,644-2,643 range during the Asian session, a one-week low. This pause in its recent pullback from last Thursday's one-month high is supported by a softer US Dollar, driven by a slight retreat in US Treasury yields. Geopolitical risks and uncertainties surrounding US President-elect Donald Trump's policies also bolster demand for the safe-haven metal.

However, expectations that the Federal Reserve (Fed) will take a cautious approach to rate cuts next year, given stalled progress in reducing inflation toward the 2% target, could support US bond yields and limit further gains for gold. Investors are likely holding back on major moves ahead of the much-anticipated FOMC meeting outcome on Wednesday.

⭐️Personal comments NOVA:
Downtrend continues - Gold is under strong selling pressure before results of interest rate cuts

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: $2674 - $2676 SL $2679
TP1: $2660
TP2: $2650
TP3: $2640


🔥BUY GOLD zone: $2635 - $2637 SL $2632
TP1: $2645
TP2: $2658
TP3: $2670


⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
Сделка активна
Gold price traded sideways 2650-2660 during the US session Monday

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