Gold Prices Hover Near Resistance; Awaiting U.S. GDP Impact
For August 28, 2024, the gold market (XAU/USD) is showing signs of a potential bearish correction, testing the support area near 2495. This correction could be followed by an upward rebound, aiming for a target above 2615 if bullish momentum continues. However, if the price falls below the 2480 level, it could signal a more significant downward trend, potentially pushing the price below 2445
Market participants are closely watching upcoming U.S. GDP data, as it could significantly influence gold prices. A strong GDP result might support the U.S. dollar, leading to a decrease in gold prices, while weaker-than-expected data could boost gold prices by reinforcing its role as a safe haven
Market participants are closely watching upcoming U.S. GDP data, as it could significantly influence gold prices. A strong GDP result might support the U.S. dollar, leading to a decrease in gold prices, while weaker-than-expected data could boost gold prices by reinforcing its role as a safe haven
✅ Gold Scalping Signals (4-6 signals)
✅ Trading Ideas, Setups, and Technical Insights
Catch these signals for FREE on Telegram:t.me/bellatrixfx
✅ Trading Ideas, Setups, and Technical Insights
Catch these signals for FREE on Telegram:t.me/bellatrixfx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.