Gold Prices Fluctuate as Economic Data Shifts Fed Policy Expectations
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Gold prices have fluctuated due to geopolitical tensions, U.S. economic data, and shifting expectations about Fed policy.
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Gold struggled to break 1985 resistance level recently due to factors like geopolitical tensions and economic data.
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Softer U.S. economic data and labor market are altering expectations that the Fed will hike rates, supporting gold prices.
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Market expects the Fed to cut rates by May 2024, weakening the dollar and benefiting gold.
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Traders should watch economic releases, 1985 resistance level, and broader sentiment about the Fed's policy for trading cues.