Gold Prices Hover Near Resistance; Awaiting U.S. GDP Impact
For August 28, 2024, the gold market (XAU/USD) is showing signs of a potential bearish correction, testing the support area near 2495. This correction could be followed by an upward rebound, aiming for a target above 2615 if bullish momentum continues. However, if the price falls below the 2480 level, it could signal a more significant downward trend, potentially pushing the price below 2445
Market participants are closely watching upcoming U.S. GDP data, as it could significantly influence gold prices. A strong GDP result might support the U.S. dollar, leading to a decrease in gold prices, while weaker-than-expected data could boost gold prices by reinforcing its role as a safe haven
Market participants are closely watching upcoming U.S. GDP data, as it could significantly influence gold prices. A strong GDP result might support the U.S. dollar, leading to a decrease in gold prices, while weaker-than-expected data could boost gold prices by reinforcing its role as a safe haven
✅ Gold Scalping Signals (4-6 signals)
✅ Trading Ideas, Setups, and Technical Insights
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✅ Trading Ideas, Setups, and Technical Insights
Catch these signals for FREE on Telegram:t.me/bellatrixfx
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