Gold prices rose slightly in the morning, remaining close to record highs even as strength in the dollar- on speculation over a second Trump presidency- weighed on broader metal markets. A drop in Treasury yields helped support gold, as did expectations of interest rates by major central banks. The European Central Bank is widely expected to cut rates by 25 basis points later in the day.
Spot gold rose 0.2% to $2,678.90 an ounce, while gold futures expiring in December rose 0.1% to $2,694.40 an ounce
CURRENTLY GOLD IS MOVING ON UP TREND.
Expecting correction up to 2671.50
Today’s important levels for trading are 2659.82, 2672.51, 2686.42 and 2699.11
Trading Strategy for today: Buy On Dip
Trade setup:
Pullback Buy around 2671.50 Deeper Buy around 2661.50
Safe swing sell below 2667.50
Safe swing buy above 2687.50
Important Event :
🔴 Core Retail Sales m/m
🔴 Retail Sales m/m
🔴 Unemployment Claims
🟠Philly Fed Manufacturing Index