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Gold broke the support zone Likely to fall support level 2580.00 Gold recently broke the support zone set between the support level 2625.00 (which stopped wave A at the end of September), the support trendline of the daily up channel from September and the 50% Fibonacci correction of the upward impulse from last month. The […]

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25/09/2024

Riksbank to Deliver 25bp Cut Today

In focus today The most important event today will be the Riksbank’s rate decision at 9.30 CET. On the back of a slightly weaker economy and lower inflation than expected, we expect Riksbank to cut the repo rate by 25bp and reduce the repo rate path by some 40bp compared to the June forecast. Such […]
21/08/2024

XAU/USD Outlook: Gold Price Consolidating Under New Record High, Ahead FOMC Minutes

Gold keeps firm tone and consolidating under new record high ($2531) posted on Tuesday, with third consecutive daily close above $2500 level, pointing to clear break. The yellow metal holds in a steep multi-month uptrend and has registered gains of nearly 22% since the start of the year. Strong migration into safety on Fed rate […]
29/11/2023

GBP/USD Eyes Additional Gains, US GDP Next

Key Highlights GBP/USD is aiming for more gains above 1.2750. A key bullish trend line is forming with support at 1.2600 on the 4-hour chart. Gold prices are accelerating higher above the $2,025 resistance. The US GDP could grow 5% in Q3 2023 (Preliminary), up from 4.9%. GBP/USD Technical Analysis The British Pound started a […]