Today's gold trading strategy

30 nov 2023

Gold edges higher in the early morning Asian session, underpinned by prospects of Fed rate cuts next year, which would increase the appeal of the non-interest-bearing precious metal. Treasury yields have stayed under pressure following Fed governor Waller's comments earlier this week that monetary policy is well-positioned to return inflation to a 2% target, ANZ Research analysts say in a report. A JPMorgan Chase survey shows investors are increasingly positioning for a hard economic landing and aggressive Fed policy easing next year, the analysts note. Spot gold is 0.1% higher at $2,045.45/oz.

XAUUSD SELL 2048 - 2051

🟢TP1: 2042
🟢TP2: 2038

🔴SL: 2053

XAUUSD BUY 2027 - 2025

🟢TP1: 2032
🟢TP2: 2037

🔴SL: 2020