Yesterday, gold prices found a boost, rebounding from the $2,300 level. However, this rally was short-lived and primarily represented a correction within the broader trend. The precious metal remains constrained below the trendline, with accumulation phases and bearish pressure still prevailing. Currently, the price stands at $2,320, marking a 0.33% decline for the day.
Today, the market is awaiting the release of the Personal Consumption Expenditures (PCE) price index report. This report is regarded as one of the most significant inflation indicators that can influence the Federal Reserve's monetary policy, as it is the Fed's preferred inflation gauge. Given its potential to cause substantial market volatility, it is crucial to monitor this report closely and ensure that your take profit (TP) and stop loss (SL) levels are properly set when trading.
Today, the market is awaiting the release of the Personal Consumption Expenditures (PCE) price index report. This report is regarded as one of the most significant inflation indicators that can influence the Federal Reserve's monetary policy, as it is the Fed's preferred inflation gauge. Given its potential to cause substantial market volatility, it is crucial to monitor this report closely and ensure that your take profit (TP) and stop loss (SL) levels are properly set when trading.
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