The bullish pattern in the technical aspect remains unchanged. The short-term retracement should be interpreted solely as a technical correction.
The market is influenced by Fed... interest rate cuts provide support for gold prices. The perspective remains primarily bullish.
PPI surged by 0.5% MOM in April, surpassing expectations, with a YOY increase of 2.2%, compared to the previous figure of 2.1%. Following the release of the PPI data, the U.S. dollar index fell below 105, while gold prices surged to 2358.02, resulting in a flawless victory in the trading strategy for spot gold