Gold pared some of its gains after upbeat US
inflation.
Read Till End
US economic data
US PCE- Positive (Bearish for Gold)
UoM consumer sentiment- Weak (Positive for
gold)
According to the CME Fed watch tool, the
probability of a no-rate cut in June increased
to 88.40% from 88.9% a week ago
Economic data for the week
Apr 30th, 2024, Chicago PMI (1:45 pm GMT)
US CB consumer confidence (2 pm GMT)
Technical:
The near-term support is around $2300. The
yellow metal faces minor resistance around
$2350 and a breach above will take it to the
next level of $2375.
signal
Buy $2335 with SL around $2320 for TP of $2370.
Sell $2370 with SL around $2400 for TP of $2200.