Technical Analysis:
Currently trading around 2412 price is near 1D FVG which might act as a resistance for it around 2326 we might see price rejecting from here. If price wants to go more to the 2450-2460 zone it can also consolidate around this zone for few days and then make an upside move.
Fundamentals:
Gold prices are edging higher as traders await key U.S. economic and inflation data later this week that could influence the Federal Reserve's policy decision timeline. Futures trade 0.4% higher at $2,416.60 a troy ounce on Wednesday ahead of U.S. GDP and PCE price index data set to be released on Thursday and Friday, respectively. Meanwhile, positive sentiment is also supported by prospects of stronger physical demand in India after the government slashed its imports tax on gold to 6% from 15%. The move "should support jewellery manufacturing in the world's second biggest consumer of the precious metal" and "adds to an already favourable backdrop for demand
Disclaimer: Trading carries risk. Practice effective risk management and consider your risk tolerance before trading.
