Technical Analysis:
Gold already grabbed liquidity from 2509 zone but did not yet tap on FVG of 15min around 2510-2512 so once price taps this zone and also gives us a MSS on 3-5min with good selling momentum we can look for selling opportunities from there.
Fundamentals:
Gold prices continue to hover around the $2,500 a troy ounce mark as traders await more clues on the size of the Federal Reserve's expected interest-rate cut later this month. Investors will be focusing on the release of U.S. consumer price index data on Wednesday and producer price index figures due on Thursday. "Powell and the Fed have already locked in a 25 basis point hike for the Sept. 18th FOMC decision," analysts at Peak Trading Research say. The question now is whether the central bank will opt for a bigger 50 basis point cut, they add. Gold futures currently trade 0.1% higher at $2,534.90 a troy ounce.
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