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Price: The current spot gold price (XAU/USD) is around $4,770.2 USD, up approximately 3.45% in the last 24 hours. Futures gold prices opened at $4,745.00 today.
Market Trend: Gold is still moving within a clearly defined uptrend channel, maintaining the overall bullish structure intact. However, prices were rejected in an important resistance area and moved into a weak sideways condition, indicating a consolidation phase.
Key Levels: Gold has managed to hold above the support level (support) at $4,700. The main support zone is around $4,513, while the resistance zone is around $4,735.
Driving Factors: The gold market is currently stagnating and "holding its breath" ahead of the release of PCE inflation data, waiting to see the policy direction of the Federal Reserve $4800 The Fed( in the US. The Fed’s dovish and relatively soft policy outlook tends to hold back USD buyers and helps limit declines in gold. In addition, geopolitical risks also provide support for gold prices. )( ‌
XAUT0,19%
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