$XAUT $XAU
The macroeconomic backdrop continues to support gold prices, with softening yields and easing inflationary pressures driving the price higher this week. However, the US July jobs report, due later today, could quickly shift market expectations regarding the Federal Reserve, making volatility near current highs particularly important.
Viewpoint:
A bullish buying structure and a strong liquidity breakout confirm that buyers are in control of the current order flow. Prices have broken through key liquidity resistance below and are now approaching the high timeframe buyer liquidity zone of $4304.981.
The macroeconomic backdrop continues to support gold prices, with softening yields and easing inflationary pressures driving the price higher this week. However, the US July jobs report, due later today, could quickly shift market expectations regarding the Federal Reserve, making volatility near current highs particularly important.
Viewpoint:
A bullish buying structure and a strong liquidity breakout confirm that buyers are in control of the current order flow. Prices have broken through key liquidity resistance below and are now approaching the high timeframe buyer liquidity zone of $4304.981.