The April high earlier this year stalled at the $3,500 mark and buyers have been biding their time ever since. After a couple of tests of the 100-day moving average (red line), we're seeing buyers look to prove their mettle again this week. But again, they now run into a key challenge of having to firmly break above the $3,500 level.
Even though we're not quite seeing a material impact from tariffs passthrough on US inflation just yet, market players are still reserving some caution for now. Market-based inflation expectations for the next 5-10 years continue to rise ever since April with the earlier spike at the end of July being the highest in a year.
As for downside factors, just be wary that September is usually a poor month for gold and precious metals historically. But again, there aren't that many Septembers that have quite the focus like this one on US data as well as the Fed.
This article was written by Justin Low at investinglive.com.Hence then, the article about gold remains the standout today eyes major upside breakout above 3 500 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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