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 $2340
$2318/$2300. The yellow metal faces minor
resistance around $2400
Signal
Sell $2360 with SL around $2400 for TP of $2300.