📊 Gold (XAU/USD) Analysis
Gold showed a slight recovery after dipping to a nearly 3-week low, supported by safe-haven demand. However, the momentum still lacks strong bullish conviction ahead of the FOMC Minutes.
Key points to note:
🔹 Diminishing odds of a jumbo Fed rate cut are keeping the USD firm, which could limit gold’s upside.
🔹 Ongoing Russia-Ukraine peace hopes may also act as a headwind for XAU/USD.
📉 Personally, I see the market leaning towards bearish pressure soon unless we get a strong fundamental shift.
On Wednesday, the market closed at $3348.
Stay cautious — volatility may increase around FOMC updates! ⚡️
Gold showed a slight recovery after dipping to a nearly 3-week low, supported by safe-haven demand. However, the momentum still lacks strong bullish conviction ahead of the FOMC Minutes.
Key points to note:
🔹 Diminishing odds of a jumbo Fed rate cut are keeping the USD firm, which could limit gold’s upside.
🔹 Ongoing Russia-Ukraine peace hopes may also act as a headwind for XAU/USD.
📉 Personally, I see the market leaning towards bearish pressure soon unless we get a strong fundamental shift.
On Wednesday, the market closed at $3348.
Stay cautious — volatility may increase around FOMC updates! ⚡️