XAUUSD has broken below the critical 2400 level following the release of unfavorable news for gold. Given the current momentum, I think it's likely that the market will retest this lower levels. I anticipate that the price may even drop below 2350 to absorb any remaining liquidity. If the upcoming Core PCE data fails to propel the price higher, I expect the market to fluctuate upward and downward before potentially resuming its previous trend. My goal is the support around 2350.
📊QUICK FUNDAMENTAL LOOK
Gold dropped to around $2,370 per ounce on Thursday, hitting its lowest level in two weeks as investors turned cautious ahead of key US economic data releases that could offer insights into the Federal Reserve's potential rate-cut timing.
⚠️Warning: Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.