Gold Price Forecast: XAU/USD bears stay hopeful below $1,955 – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences NFP Inflation
are the headlines suggesting China stimulus and a pullback in the US Treasury bond yields from the highest level since November 2022. It’s worth noting that the recently mixed US job and activity signals haven’t been impressive to thebulls, which in turn allow the XAU/USD to grind higher after taking a U-turn from the three-week low.
Looking forward, softer prints of the US Nonfarm Payrolls and other US employment numbers will need support from the next week’s US inflation clues to defend the Gold Price recovery. Apart from that, China's headlines and bond market moves will also be important to watch for clear directions.Gold Price: Key levels to watch
Following that, Pivot Point one-day R1 and Pivot Point one-day R3 could check the Gold buyers near $1,940 and $1,948 respectively.
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