Gold prices slipped in in the morning, having taken limited support from increased unrest in the Middle East, while focus also remained on potential interest rate cuts by the Federal Reserve. Gold rose on Monday after Israel launched a series of strikes against Rafah in Southern Gaza, a move that complicated ongoing ceasefire negotiations with Hamas. Reports also showed that ceasefire talks between Israel and Hamas yielded little progress.\u00a0Gold was also supported by increased speculation over U.S. interest rate cuts following weaker-than-expected nonfarm payrolls data on Friday, which caused steep losses in the dollar. But the greenback found its footing on Tuesday. Israel\u2019s strike on Rafah pointed to an escalation in the ongoing war with Hamas, and presented little scope for de-escalation in the Middle East. The move drove up some safe haven demand for gold, helping the yellow metal recover past the $2,300 level.\u00a0Little progress in ceasefire talks between the two also factored into some safe haven demand for gold.\u00a0Still, gold remained more than $100 below record highs hit in April, when the threat of a potential war between Iran and Israel had ramped up safe haven demand. But the yellow metal then saw sharp declines as tensions between the two did not become a full-blown conflict.\u00a0<\/p>\n\n\n\n
Spot gold fell 0.1% to $2,322.65 an ounce, while gold futures expiring in June steadied at $2,330.95 an ounce.<\/p>\n\n\n\n
CURRENTLY GOLD IS MOVING ON UP TREND.<\/mark><\/strong><\/p>\n\n\n\n Expecting correction up to 2308.10<\/p>\n\n\n\n Today’s important levels for trading are 2299.61, 2315.78, 2339.80 and 2355.97<\/p>\n\n\n\n Trading Strategy for today: Buy On Dip<\/mark><\/strong><\/p>\n\n\n\n Trade setup:<\/mark><\/strong><\/p>\n\n\n\n Pullback Buy around 2308.50. Deeper Buy around 2296.50<\/p>\n\n\n\n Safe swing sell below 2293.50<\/p>\n\n\n\n Safe swing buy above 2333.50<\/p>\n\n\n\n Gold prices slipped in in the morning, having taken limited support from increased unrest in the Middle East, while focus also remained on potential interest rate cuts by the Federal Reserve. Gold rose on Monday after Israel launched a series of strikes against Rafah in Southern Gaza, a move that complicated ongoing ceasefire negotiations with […]<\/p>\n","protected":false},"author":1,"featured_media":525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,38],"tags":[],"class_list":["post-524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-technical-analysis"],"yoast_head":"\nRemark: This market analysis is published to increase your awareness, but not to give instructions to make a trade.<\/mark><\/h6>\n","protected":false},"excerpt":{"rendered":"