Friday of volatility! Gold adjusted DOWN

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) faced renewed selling pressure on Thursday and declined closer to the weekly low in response to the US Producer Price Index (PPI), which was higher than expected. This data indicated persistent inflation and dampened market expectations for early interest rate cuts by the Federal Reserve (Fed). As a result, US Treasury bond yields rose, boosting the US Dollar (USD) and prompting investors to move away from gold, which does not generate interest.

However, the markets still believe there is a higher likelihood that the US central bank will begin cutting interest rates in June. This, combined with a risk-off sentiment, helped attract some buyers for gold before it reached the $2,150 level, leading to a slight positive bias during the Asian session on Friday. Nevertheless, the XAU/USD remains within a familiar range as traders await more clarity regarding the Fed's stance on rate cuts before making any significant moves. Consequently, all eyes are on the upcoming FOMC meeting next week.

⭐️Personal comments NOVA:
Positive data for the dollar this week, caused Gold to correct DOWN. In line with the technical chart, Gold prices continue to decline

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2137 - $2135 SL $2130
TP1: $2145
TP2: $2152
TP3: $2160

🔥SELL GOLD zone: $2170 - $2172 SL $2176
TP1: $2164
TP2: $2155
TP3: $2146

🔥SELL GOLD zone: $2188 - $2190 SL $2195
TP1: $2180
TP2: $2170
TP3: $2160

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

Trade active:

Gold price increased back to $2170 area. Suitable resistance area for scalping SELL signal

Comment:

+ 30 pips, signal SELL 2170

Comment:

+ 40 pips , sell 2170

Trade active:

Gold price continues to increase before the news, waiting for the sell scalping zone 2177-2175

Comment:

+ 70 pips , signal SELL PLAN DAY 2170

Comment:

+ 120 pips, plan day sell 2170

Comment:

2 economic data is rated negative for the dollar. But Gold price is still sideways and somewhat decreasing. Shows that this data does not have too much impact on Gold prices

The price is still moving down in accordance with the technical chart