Product: XAU/USD
Prediction: Decrease
Fundamental Analysis:
U.S. Producer Price Index rose 0.1%, indicating slower inflation. With key U.S. inflation data due, XAU/USD prices fell after reaching a monthly high. A positive stock market and repositioning ahead of data added pressure on gold.
Technical Analysis:
Gold is near the $2483 resistance level. Bears may drive the price down to $2360 support. The price is currently range-bound between $2360 and $2483, with potential for further declines if resistance holds.
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