Hello wealthy friends! The price of gold this morning continues to move around the level of 2026 USD, seemingly unchanged from the same time yesterday.
As a result, the market is in a state of pause, awaiting important economic news or data, including the crucial inflation data from the United States, which will be released at the end of the week, in order to seek further signals about the direction of interest rates from the Federal Reserve after their recent dovish statements.
In terms of technical analysis: Gold is mainly consolidating in a sideways trend as the Bollinger Band indicator has stopped expanding and started narrowing. It is expected to make horizontal movements within the range of support at 2016 - 2043 USD.
As a result, the market is in a state of pause, awaiting important economic news or data, including the crucial inflation data from the United States, which will be released at the end of the week, in order to seek further signals about the direction of interest rates from the Federal Reserve after their recent dovish statements.
In terms of technical analysis: Gold is mainly consolidating in a sideways trend as the Bollinger Band indicator has stopped expanding and started narrowing. It is expected to make horizontal movements within the range of support at 2016 - 2043 USD.
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Gold has completed the first indicator arrow
