Today's gold trading strategy

Gold edges higher in the early morning Asian session, underpinned by prospects of Fed rate cuts next year, which would increase the appeal of the non-interest-bearing precious metal. Treasury yields have stayed under pressure following Fed governor Waller's comments earlier this week that monetary policy is well-positioned to return inflation to a 2% target, ANZ Research analysts say in a report. A JPMorgan Chase survey shows investors are increasingly positioning for a hard economic landing and aggressive Fed policy easing next year, the analysts note. Spot gold is 0.1% higher at $2,045.45/oz.

XAUUSD SELL 2048 - 2051

🟢TP1: 2042
🟢TP2: 2038

🔴SL: 2053

XAUUSD BUY 2027 - 2025

🟢TP1: 2032
🟢TP2: 2037

🔴SL: 2020