Product: XAU/USD
Prediction: Increase
Fundamental Analysis: Gold prices rose due to the Fed's hints at possible rate cuts, lower US Treasury yields, a weaker USD, and geopolitical tensions. The combination of these factors has boosted gold's appeal as a safe-haven asset.
Technical Analysis: Gold is in a slightly rising channel, with the 50-day EMA at $2,366 providing support. A breakout above $2,483.75 could signal new highs. Support is around $2,225. The market is currently in a consolidation phase.
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