XAUUSD

The Fed decided to keep the policy interest rate unchanged, in line with market expectations. In a press conference, Fed Chairman Jerome Powell emphasized the progress made against inflation and indicated that there is still a possibility for interest rate cuts in the future. According to CME data, the market anticipates two 25 basis point interest rate cuts within this year. These developments have put pressure on the Dollar Index, allowing gold to gain in value. Additionally, monitoring the ECB's monetary policy announcements, the US growth rate, deflator data, and unemployment claims is crucial throughout the day.

Gold is trading at a critical level supported by short-term indicators. Its current pricing in the range of 2750 – 2760 indicates that an important decision-making phase is ongoing. To establish a positive trend, sustained prices above the 2760 level are necessary. In the event of recoveries, the 2770 and 2780 levels may come into play, while for negative scenarios, a sustained position below 2750 may be required. In the case of declines, the levels to watch are 2736 and 2727. The critical level for the day is: 2750 – 2760 range.