Market analysis with coffee ☕ 🍵 Product: XAU/USD Prediction: Decrease Fundamental Analysis: Gold prices are holding above $2,350 in early Asian trading, despite a recent tumble to two-week lows. This came after stronger-than-expected Q2 2024 US GDP, raising doubts about the Federal Reserve's rate cut plans this year. The core PCE inflation rate moderated to 2.9% from 3.7% in the previous quarter, while jobless claims declined. Markets still expect a Fed rate cut in September, as disinflation continues. Gold initially fell on the GDP data but recovered on the softer core PCE reading. Concerns over China's economic slowdown and a weaker USD/JPY also impacted gold. Investors await the June core PCE data for further direction on gold's near-term outlook. Technical Analysis: Gold prices remain under pressure early Friday, with the 14-day Relative Strength Index below 50, indicating bearish sentiment. Sellers are targeting the key 50-day moving average at $2,360, which needs to be breached for a fresh downtrend toward the 100-day moving average at $2,324. However, buyers may find support at the $2,350 psychological level. To the upside, the 21-day moving average at $2,387 and the $2,400 mark are immediate resistance levels. Further recovery could target $2,412 and $2,425 resistance zones. The market is currently in a tug-of-war between bulls and bears, with the overall outlook remaining uncertain in the short term. REGISTER NOW!! - https://mykvb.com/register?vco... #KVB #tradingindonesia #indonesia #vietnam #Signal #COPYTRADE #XM #Exness #mytradingstory #forexmarket #FOLLOWMEGuideBook #OPINIONLEADER #tradingvietnam #trader #tradingforex