Gold hits an all-time high despite a surge in US
treasury yields.
US economic data-
US PPI - weak (Positive for Gold)
US initial jobless claims- Strong (Positive for
gold)
Economic data to be released today-
Prelim UoM consumer sentiment (3:00 pm
GMT)
According to the CME Fed watch tool, the
probability of a 25 bpbs rate cut in June
dlecreased to 23.80% from 59.10% a week ago
Technical:
The near-term support is around $2380, a
break below targets of
$2360/$2350/$2318/$2300. The yellow metal
faces minor resistance around $2400 and a
breach above will take it to the next level of
$2420/$2450.

Signal
Buy $2380 with SL around $2370 for TP of $2400
Sell $2400 with SL around $2420 for TP of $2380