Gold prices rose in the Morning, recovering more ground from a rout through most of July as focus turned to an upcoming Federal Reserve meeting where the central bank is expected to provide more cues on interest rate cuts. The yellow metal was also aided by weakness in the dollar, which retreated after key inflation data on Friday pointed to some easing in U.S. inflation- a scenario that gives the Fed more confidence to reduce borrowing rates. Gains in the Gold were driven chiefly by increased speculation over interest rate cuts, following some encouraging signs from PCE price index data last week, which is the Fed\u2019s preferred inflation gauge. The reading put this week\u2019s Fed meeting squarely in focus. While the central bank is expected to keep rates unchanged, any signals on its plans to cut rates will be closely watched<\/p>\n\n\n\n
Spot gold rose 0.4% to $2,395.31 an ounce, while gold futures expiring in December rose 0.5% to $2,440.35 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 2386.79<\/p>\n\n\n\n Today’s important levels for trading are 2364.73, 2377.70, 2399.66 and 2412.63<\/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 2387.50 Deeper Buy around 2378.50<\/p>\n\n\n\n Safe swing sell below 2377.50 Important Event : No Important data Today<\/strong><\/p>\n\n\n\n Gold prices rose in the Morning, recovering more ground from a rout through most of July as focus turned to an upcoming Federal Reserve meeting where the central bank is expected to provide more cues on interest rate cuts. The yellow metal was also aided by weakness in the dollar, which retreated after key inflation […]<\/p>\n","protected":false},"author":1,"featured_media":571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,38],"tags":[],"class_list":["post-570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-technical-analysis"],"yoast_head":"\n
Safe swing buy above 2497.50<\/p>\n\n\n\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":"