Gold exhibited a range-bound pattern yesterday, consolidating within the 2385-2375 zone. Trading strategies for today include considering selling below 2370 and buying only upon a clear breakout above 2400, followed by consolidation and upward movement.
Unemployment claims released yesterday were in line with expectations but lower than previous figures. Federal Reserve's Bostic expressed satisfaction with April's inflation progress but emphasized the presence of persistent pricing pressure in the economy. Bostic hinted at potential rate reductions toward year-end, reflecting ongoing concerns over inflationary trends.
In summary, gold traders are advised to monitor key price levels and consider trading strategies in response to market dynamics and Federal Reserve commentary.