This morning, gold prices dipped below the $2170 mark, reflecting recent market movements.

In Asian trading, gold exhibited minimal movement, largely influenced by robust inflation data that raised concerns about the Federal Reserve’s stance on interest rates. The fear among investors is that the Fed might indicate a prolonged period of elevated interest rates, impacting the demand for non-interest-bearing assets like gold.

The primary catalyst for the downward pressure on gold was the anticipation surrounding the upcoming Federal Reserve meeting. Market participants are closely monitoring the Fed’s decisions, especially given the persistent strength in both consumer and producer inflation data over the past few months.

For investors, these developments present an opportunity to observe how gold prices respond to shifts in inflation expectations and interest rate sentiments. By staying informed about central bank policies and economic indicators, investors can strategically position themselves to potentially capitalize on market movements.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 15/03/2024

Time Frame: 1 hour

GOLD Support & Resistance Table – 15/03/2024

Support & ResistanceLevelExplanation
Resistance 22187.08Daily R2
Resistance 12178.88Daily R1
Support 12157.00Daily S1
Support 22149.80Daily S2

GOLD Indicator Table – 15/03/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Buy
Stochastic ( 9;6;3)Buy

GOLD Indicator / Period Table – 15/03/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)BuyBuyBuy
SMA 20BuyBuyBuy

GOLD 15/03/2024 – Reference Price : 2169.62

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0)

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