As the week progresses, gold remains within the familiar range of 2320-2300, showing resilience amidst a lack of significant economic activity data. However, today's upcoming release of unemployment claims during the New York session could serve as a catalyst for market movement.
The absence of substantial economic indicators may have contributed to the prolonged consolidation phase in the gold market. Additionally, easing geopolitical tensions have provided some relief, further influencing the market sentiment.
In anticipation of potential shifts, my focus remains on key levels: I will be keenly observing opportunities to sell gold below the range of 2303-2300, while keeping an eye on potential buying opportunities above 2330. These levels represent safe zones for executing trades, providing a structured approach to navigating the current market conditions.
With careful analysis and strategic planning, I aim to capitalize on emerging opportunities and navigate the gold market with confidence.