Gold prices rose in the morning, extending a recent rebound as the dollar retreated in anticipation of more cues on U.S. interest rates, most notably from the minutes of the Federal Reserve’s late-January meeting. Still, Gold remained largely within a $2,000 to $2,050 an ounce trading range established over the past month, as the outlook for gold was clouded by the prospect of higher-for-longer U.S. interest rates.
Spot Gold rose 0.3% to $2,029.89 an ounce, while Gold futures expiring in April rose 0.1% to $2,040.75 an ounce
CURRENTLY GOLD IS MOVING ON UP TREND.
Expecting correction up to 2024.50
Today’s important levels for trading are 2015.67, 2023.24, 2031.55 and 2039.12
Trading idea for today: Buy on Dip
Trade setup:
Pullback Buy around@2024.80 Deeper Buy around@ 2018.60
Safe swing sell below 2013.50
Safe swing buy above 2033.50
Important Event : FOMC Meeting Minutes