Gold Analysis – 31.Oct.2024
Gold Analysis: By analyzing the #Gold chart in the 15-minute timeframe, we can see that Contrary to our expectations, gold only managed to reach $2782 before quickly rejecting from that area, failing to hit our first target. With recent data releases, including the Core PCE Price Index m/m, Employment Cost Index q/q, and Unemployment Claims, all favoring the dollar, gold began to decline, dropping over $45 from $2782 to $2737. Looking ahead, gold faces demand zones between $2733-$2735 and $2725-$2727. Watch closely to see if these levels will hold and prevent further declines.
(This Post on TradingView)
Author : Arman Shaban
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