XAUUSD: Gold price strategy today

Gold prices (XAU/USD) have extended their correction but consolidation is likely due to light trading activity. More broadly, precious metals could continue on a positive trajectory as bets in favor of an early Federal Reserve rate cut are firming as labor market conditions ease. and a clear downward trend in core inflation. This reduces the opportunity cost of holding the yellow metal and weakens the US Dollar, on which the metal is priced.

Gold prices are expected to end 2023 with an outstanding gain of more than 13.50%. Deepening expectations of the Fed starting to cut interest rates from March 2024 will also continue to attract optimism in Gold prices going into 2024. Further action for Gold prices will be guided by the Index. US ISM Manufacturing and Nonfarm Employment PMI numbers for November.

Comment:

💵XAUUSD BUY 2065-2067💵

✔️TP1 2072
✔️TP2 2080

❌SL 2060

Comment:

💵XAUUSD SELL 2075-2077💵

✔️TP1 2071
✔️TP2 2067

❌SL 2081

Comment:

💵XAUUSD BUY 2065-2067💵

✔️TP1 2072
✔️TP2 2080

❌SL 2060
Close all +100Pips ✔️✔️

Comment:

💵XAUUSD BUY 2065-2067💵

✔️TP1 2072
✔️TP2 2080

❌SL 2060
Close all +100Pips ✔️✔️

Comment:

💵XAUUSD SELL 2075-2077💵

✔️TP1 2071
✔️TP2 2067

❌SL 2081

Comment:

💵XAUUSD SELL 2075-2077💵

✔️TP1 2071
✔️TP2 2067

❌SL 2081

running + 30 pips - Move SL to Entry