Product: XAU/USD
Prediction: Increase
Fundamental Analysis: Gold prices fell slightly, hitting $2,430 to $2,462, due to a stronger US Dollar from weak economic data and risk aversion. US manufacturing and job data were poor, causing volatility. Asian and European markets also declined on weaker data and central bank policies.
Technical Analysis: XAU/USD is above the 23.6% Fibonacci retracement at $2,438.75, with near-term support around $2,410 from the 20 SMA. Although short-term momentum is pausing, the technical indicators and moving averages suggest the uptrend could continue.
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