📊 Product: XAU/USD 📈 Prediction: Increase Fundamental Analysis: Gold prices rose in Asian trade on Thursday, staying close to record highs as a rebound in the dollar cooled ahead of key inflation data that is likely to factor into the outlook for interest rate cuts. Some safe haven demand also buoyed bullion prices, especially after some underwhelming earnings from market darling NVIDIA Corporation (NASDAQ:NVDA) rattled global equity markets. More closely watched will be PCE price index data on Friday. The print is the Fed’s preferred inflation gauge and is likely to factor into expectations for rate cuts. Markets are split between a 25 or 50 basis point cut in September, according to CME Fedwatch. The prospect of lower rates dented the dollar and buoyed broader metal markets, although they mostly lagged gold. Technical Analysis: From a technical point of view, the daily chart for the XAU/USD pair shows bulls have retaken control and aim to challenge the mentioned all-time high. Technical indicators turned higher within positive levels, and remain below their weekly highs, suggesting there is room to extend the current advance. At the same time, Gold develops above all its moving averages, with a bullish 20 Simple Moving Average (SMA) slowly grinding higher in the $2,470 region. The 100 and 200 SMAs, in the meantime, maintain their bullish slopes far below the shorter one. The risk skews to the upside in the near term, although the momentum is limited. In the 4-hour chart, XAU/USD recovered above a flat 20 SMA, although the 100 and 200 SMAs head firmly north below the current level. REGISTER NOW!! - https://mykvbplus.github.io/?r... #KVB #tradingindonesia #Businessmanager #Relationship #Relationshipmanager #indonesia #vietnam #Signal #COPYTRADE #XM #Exness #mytradingstory #forexmarket #FOLLOWMEGuideBook #OPINIONLEADER #tradingvietnam #trader #tradingview