Technical Analysis:
Gold left a lot of sell side liquidity below also we have equal lows around 2485, If price takes liquidity from 2500 we can start looking for MSS on 3-5min for selling opportunities. If price gives us MSS we will enter for shorts till 2485 or will let price ride higher.
Fundamentals:
Gold futures are broadly flat at $2,525.40 a troy ounce. The price of the precious metal continues to hover within a tight range, with market focus primarily on the size of the upcoming Federal Reserve interest-rate cut later in September, market watchers say. Investors are set to scrutinize the release of August's consumer price index print on Wednesday and producer price index data on Thursday for further clues on the Fed's pathway to monetary policy easing, after the early September's nonfarm payroll data and unemployment rate brought mixed messages. The U.S. dollar has also firmed, adding additional pressure to gold prices. Elsewhere, LBMA silver gains 0.4% to $28.84 a troy ounce.
Disclaimer: Trading carries risk. Practice effective risk management and consider your risk tolerance before trading.
