Gold price continues to decrease, strategy to sell today

World gold prices remained stable this morning as traders focused on the Personal Consumption Expenditures Price Index (PCE) report, the FED's preferred inflation measure, expected to be released this evening. can provide a more specific view on the timing and extent of interest rate cuts by the FED this year.

According to financial and securities market analysis site MarketWatch, inflation will increase by 2.7% over the same period last year. If this forecast is correct, it means that April inflation remained unchanged compared to March, that is, this inflation level is still much higher than the FED's 2% target.

A weaker dollar, lower yields and the recent stock market sell-off have provided bullish momentum for gold, said Kitco senior analyst Jim Wyckoff.

Regarding the outlook for precious metal prices, experts say that, along with central banks continuously adding gold to their reserves, demand from Chinese investors will continue to increase in the near future. coming will bring solid support for gold.

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🔝 XAUUSD SELL 2345 - 2347 🪙🪙🪙

✔️ TP 2340
✔️ TP2 2335

❌ SL 2355