From Investing.com: 2024-10-07 07:17:00

Gold traders are watching for potential pullbacks due to overbought conditions and geopolitical tensions. Despite a strong US dollar, key technical levels could guide the next move. Recent strong US nonfarm payrolls data has put pressure on the Fed’s rate cuts. US CPI data and consumer sentiment reports this week will impact market sentiment and gold prices. Gold remains in a strong uptrend, but a correction may be looming with extreme overbought conditions.



Read more at Investing.com: Gold: Overbought Conditions Point to More Profit-Taking Ahead of US CPI Data