📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
Gold price touched 1929.00 level and finds solid resistance there, waiting to breach this level to confirm extending the bullish wave and achieve additional gains that reach 1945.20. Therefore, we will continue to suggest the bullish trend in the upcoming sessions, supported by stochastic that continues to provide the positive signals, reminding you that the continuation of the bullish wave depends on the price stability above 1913.15. The expected trend for today is Bullish
📊QUICK FUNDAMENTAL LOOK
Gold prices rose in European trade on track for the first profit in four days on hopes global central banks have reached peak interest rates, with potential interest rate cuts in the first half of 2024. Such hopes are overshadowing the recent spikes in dollar and US treasury yields after the Federal Reserve hinted at a 0.25% interest rate hike in November.
Gold prices rose 0.45% to $1,928 an ounce, with a session-low at $1,919, after losing 0.5% yesterday, the third loss in a row following strong US labor data, which showed unemployment claims fell to six-month lows.
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