XAU/USD Snapshot
Prediction: Decrease
Market Insight:
Gold prices saw turbulence following Fed Chair Powell's remarks and U.S. job data. Starting near $2337, they dipped to $2320, then rebounded to around $2330. Powell's cautious speech at an ECB event impacted sentiment, despite robust U.S. bond yields.
Technical Outlook:
Currently trading between $2320 and $2350, gold shows a bearish trend with neutral momentum (RSI near 50). Sellers eye breaking below $2300 towards $2277 support, while buyers look for breakthroughs at $2387 and $2400 above $2350.
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