🕐 Midday update | Sunday
₿ Bitcoin is trading around 82,180$ and is trying to approach resistance at 82,300 after dipping to around 80,820 early this morning. Ethereum is around $2,425.
📌 The market remains cautious after hot U.S. inflation data (CPI at 3.7%). Markets are pricing in a high likelihood of an interest rate hike in December, even if rates are held steady at the October meeting.
🟡 Gold: COMEX closed Friday at 4,181$ , while spot gold is around $4,166. The market opens early Monday UAE time. U.S. 10-year Treasury yields remain above 5%, and oil is up, putting pressure on gold, while central bank buying is providing a floor.
👀 The main things to watch tomorrow: China’s GDP data, and the Fed’s quiet period ahead of its October 27–28 meeting, which lasts all week.
📊 Gold analysis – Daily timeframe (week-opening plan)
📈 Trend: Range-bound below the moving averages (MA20: 4,214 | MA50: 4,374), while the broader trend remains downward from the August peak
🟥 Resistance: 4,242 / 4,259
🟩 Support: 4,143 / 4,091
🟢 If the opening holds above 4,143 and the daily close manages to stay above the 20-day moving average and 4,242, we could see an attempt to move toward 4,259.
🔴 A break below 4,143 and a close beneath it would bring us back to the 4,091 area, the base of the rally that began in August.
⏳ Price is in the middle of the range and the market is closed, so there’s no clear trade right now. We’ll watch the first candles of the week 👌
$PAXG $BTC $ETH
#Gold #Bitcoin
#XAUUSD ⚠️ This is not financial advice. Please follow sound capital management 🤝