Gold Price Future: $2,646 Support Critical with Inflation Data on the Horizon
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Gold prices are approaching a critical support level at $2,646, with upcoming inflation data and Federal Reserve remarks potentially influencing a bearish trend if this level is breached.
November 11, 2024 | 12:45 pm
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AAAU, a gold-backed ETF, may experience price volatility as gold nears a critical support level at $2,646. Upcoming inflation data and Fed remarks could influence a bearish trend if the support level is breached.
AAAU is directly tied to gold prices. As gold approaches a critical support level, any breach could lead to a bearish trend, affecting AAAU's price. The upcoming inflation data and Fed remarks add uncertainty, increasing potential volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80