#Trump will host a White House ceremony Friday for incoming Fed Chair Kevin Warsh, the first since 1987. Markets now debate whether the Fed’s next move will be a rate cut or a hike amid rising oil prices and economic uncertainty.
Gold slipped below the $4,550 zone as stronger US inflation data and rising expectations of a hawkish Federal Reserve supported the US Dollar. Traders are also monitoring Middle East developments and upcoming FOMC Minutes for fresh direction.
Gold Key Levels:
🔹 Resistance: 4560 – 4585 – 4610
🔹 Support: 4540 – 4515 – 4490
Bias: Bearish below 4560
⚠️ Volatility expected during US economic data releases.
Gold remains slightly bearish as XAU/USD trades near $4,692 below key resistance zones.
A break above $4,749 could revive bullish momentum, while weakness below $4,689 may trigger deeper downside pressure.