Gold Technical Analysis – The price consolidates near a key support ...Middle East

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Gold Technical Analysis – The price consolidates near a key support
source : forex live ( Middle East ) () 40
Fundamental OverviewGold got stuck in a consolidation near a key support zone as the market awaits a catalyst or key technical breakouts to find some momentum. Last week, we got some very good inflation data from the CPI and PPI which should support gold in the bigger picture as it will give the Fed more confidence to start cutting rates at some point in the last part of the year. Unfortunately, the last FOMC decision turned out to be a bit more hawkish than expected although Fed Chair Powell made it clear that their forecasts can change as they remain very data dependent. As of now, it looks like gold have limited downside but lots of upside as inflation abates slowly while risks to the gro

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