XAUUSD

The FOMC minutes highlighted the need for the Fed to observe further declines in inflation and indicated that changes in customs tariffs have raised inflationary concerns. This situation parallels recent statements from FOMC members, while the Dollar Index continues to fluctuate around the 107 level. Meanwhile, as the U.S. and Russia negotiate regarding the war in Eastern Europe, Ukraine's current absence from these talks reinforces anxieties. This allows gold to remain close to record levels. Throughout the day, unemployment claims, the Philadelphia Fed manufacturing index, and speeches by FOMC members could be closely monitored.

Spot gold is trading above levels supported by short-term indicators. The precious metal can maintain its upward expectations as long as pullbacks are limited within the 2920 – 2930 range. If the uptrend continues, the likelihood of encountering levels of 2946 and 2960 increases. In this process, the status of the 2940 – 2946 range could play a critical role in sustaining positive expectations. In an alternative scenario, to highlight a negative trend, a sustained move below the 2920 – 2930 area may be required, potentially leading to movements towards the 2910 and 2900 levels. The critical range for the day is 2920 – 2930.