Gold surged sharply and hit an all-time high on
board-based US dollar selling.
  
Read Till End
The easing Us cPl and weak US retail sales last
week have increased the chance of a rate cut
by the Fed this year.
The US 10-year yield showed a minor pullback
following three weeks of bearish trend.
Comments from Fed members confirmed that
there would not be any rate cut in the mid-
term until inflation cools below the Fed target
range of 2%.
US economic data
Major economic data for the week
May 20th, 2024, US Flash manufacturing PMI
and services PMI (1:45 pm CMT)
May 24th 2024, Durable goods orders m/m
(12:30 pm GMT)
Technical:
The near-term support is around $2430, a
break below the targets of
$2413/$2400/$2365. The yellow metal faces
minor resistance around $2450 and a breach
above will take it to the next level of
$2475/$2500.

Signal
Sell $2350 with SL around $2360 for a TP of
$2400.
Buy $2400 with SL around $2380 for a TP of
$2500.