Gold Analysis – 31.May.2024
Gold Analysis: Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2350 to $2337! Subsequently, gold rebounded with demand and is currently trading in the range of $2343. It’s possible that after an upward movement, we might witness further decline in gold prices. As for the Core PCE Price Index m/m, we should wait and see how this news affects the market. For now, I don’t have any specific opinion on gold, and it doesn’t seem particularly attractive for trading today!
(This Post on TradingView)
Author : Arman Shaban
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