Gold trend vs Fed’s late rate cut comment and Middle East Tensions

Gold has broken the 2018-2020 to drop to 2000-2002 after yesterday’s good U.S Retail Sale release. But, gold has got good support by news of Pakistan attacking Iran and Yemen attacked by U.S, UK.

Gold has the following key price zones to watch 2018-2019, 2028-2029, 2039-2041 because the Middle East tensions is supporting gold to make a correction.

If gold trades above the 2018-2019 zone. Gold trend is turning from down to consolidating, and it will trade from 2000-2002 to 2028-2029 or 2039-2041.

If gold is not able to trade above the 2018-2019, gold will drop to test the 2000-2002 because the market is ignoring Middle East tensions and gold is dropping following the Fed’s comment of “Not cutting U.S rate early”

Gold has conflicting news so Jan 18, 2024 is expected to be choppy. Gold may make big swing up or down movement.

Bellow is $1400 profit Gold Signal to Sell 2030-2032 after hot U.S CPI report last Thursday, Jan 11 2024.

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