⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) slipped on Tuesday due to a stronger US Dollar and rising US Treasury yields. However, expectations that the Federal Reserve might cut interest rates in September could support gold, as lower rates reduce the cost of holding non-yielding assets. Additionally, ongoing geopolitical tensions in the Middle East may boost demand for safe-haven assets like gold.
Looking ahead, the ISM Manufacturing PMI is set to be released on Tuesday, and the key focus will be on the US Nonfarm Payrolls (NFP) report for August, which could influence the Fed's rate decision and impact gold prices in the near term.
⭐️Personal comments NOVA: Gold prices enter September with high expectations for volatility and new price increases. Correction to reach new ATH continues this year
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
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Gold price increased slightly in the Asian session: continuing to trade around the 2490-2500 mark
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Gold prices continued to increase during the European session, surpassing the 2500 mark
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Gold prices show that sellers are still trying to hold in the 2490 -2510 area. Let's wait for PMI news today
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Gold price decreased according to comments: from 2507 to 2475. Adjustment rhythm before interest rate information
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Gold's downward adjustment may continue stronger in the following days
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