SPOT GOLD – cautious trading on political uncertainty in the US show no clear n/t direction

Slobodan Drvenica Windsor Brokers

GOLD

Spot Gold ticked higher on Wednesday as dollar came under pressure after sudden dismissal of US Secretary of State, but limited upside action was seen so far as traders remain cautious in light of new political situation as well as rising fears about US tariffs plan.
Positive signals were seen after triple strong downside rejection in recent sessions, but recovery attempts lacked momentum for stronger upside and were capped by cluster of MA’s (55/30/20SMA) at $1328 zone.
Weakening momentum studies on daily chart keep the downside vulnerable of renewed attacks at recent spike lows at $1313 zone, loss of which would generate stronger bearish signal.
Conversely, firm break above $1328 barriers would shift n/t focus towards daily cloud top ($1338).
Release of US PPI and retail sales data today could provide fresh direction signal.

Res: 1328; 1332; 1338; 1340
Sup: 1323; 1319; 1317; 1313

Interested in Gold technicals? Check out the key levels

1. R3 1346.89
2. R2 1337.69
3. R1 1331.95
PP 1322.75
1. S1 1317.01
2. S2 1307.81
3. S3 1302.07

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD declines below 1.3500 on UK political uncertainty, US PPI data eyed

The GBP/USD pair loses ground to near 1.3485 during the early Asian session on Friday. The Pound Sterling weakens against the Greenback amid rising UK political uncertainty surrounding the Gorton and Denton by-election.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.