Data muted, GOLD rises as Middle East tensions escalate

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US producer price data had little impact on expectations of a US interest rate cut this year, the European Central Bank kept interest rates unchanged, and continued geopolitical concerns also increased appeal. Leading the way in XAUUSD, gold became strong and hit another all-time record.

US PPI rose 0.2% month-on-month and 2.1% year-on-year in March, less than expected.
Annual core PPI rose 2.4% year-on-year, beating expectations and beating expectations of 2.3% and a 2% gain in February.
Weekly initial jobless claims improved to 211,000, below expectations of 215,000 and down from 222,000 previously.

Top US and Israeli generals discuss escalating war and warn embassies to limit travel
The Middle East is currently on high alert, wary of Iran's threat to launch a retaliatory attack on Israel. In early April, the consulate building of the Iranian Embassy in Syria was attacked, killing 16 people, including two high-ranking Iranian generals. Iran blamed the attack on Israel and vowed revenge.

American officials are helping Israel plan and share intelligence assessments. Israel's Western allies have been informed that Israeli military and government facilities may be attacked, but civilian facilities are not expected to be targeted.
Israeli officials also told their allies they were waiting for an attack before launching a ground attack on the city of Rafah in the southern Gaza Strip.
US and Israeli intelligence officials say it is only a matter of time before Iran retaliates, an attack could occur in the next few days and Iran could use precision guided missiles.

Iran's Supreme Leader Ayatollah Ali Khamenei warned on Wednesday that Israel "must and will be punished" as US President Joe Biden reiterated his "ironclad" support for the key regional ally mine.
Additionally, US Defense Secretary Lloyd Austin held discussions with Israeli Defense Minister Yoav Gallant on Thursday.
“A direct attack by Iran would require an appropriate response from Israel toward Iran,” Galante told the US Secretary of Defense.
The Israeli Defense Ministry said the two officials "discussed Iran's preparations to attack Israel", with Galante stressing that "Israel will not tolerate Iranian attacks on its territory".
The White House also said the US had informed Iran that it was not involved in the airstrike targeting a senior Iranian military commander in Damascus.
The US has warned its embassy staff to limit travel after Iran threatened Israel.
(According to NewsX)

Nearly all macro data did not impact strong central bank buying, safe-haven capital flows amid persistent geopolitical risks and demand from funds have been the driving force behind prices. XAUUSD increased 14% from the beginning of the year until now.

US CPI data could put GOLD into accumulation


Analysis of technical prospects for XAUUSD
On the daily chart, gold continues to set new highs during the Asian trading session and shows no signs of stopping and no notable resistance levels left to expect a significant downward correction.
All technical indicators are supporting gold prices to continue to increase, while the nearest resistance level may be the upper edge of the price channel and if this price channel continues to be broken, gold could reach the original price of 2,400 USD. and will watch the Sell resistance at 2,410 USD according to Fibo extension.
In a bearish case, gold needs to take price action below the $2,382 technical price point of the 1% Fibonacci extension and then the expected correction target at $2,365, more than $2,331.
It is very difficult to make any decisions in the current context when open buying positions face the risk of downward adjustment due to a long period of hot growth. Meanwhile, open sell positions cannot find any resistance positions ahead as a basis for setting protection levels.

During the day, the upward trend of gold prices will continue to be maintained with notable technical levels as follows.

Support: 2,382 – 2,365USD
Resistance: 2410 - 2,400USD

🪙SELL XAUUSD | 2411 - 2409

⚰️SL: 2415

⬆️TP1: 2404
⬆️TP2: 2399

🪙BUY XAUUSD | 2359 - 2361

⚰️SL: 2355

⬆️TP1: 2366
⬆️TP2: 2371
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BlackRock CEO Larry Fink predicts the Fed will cut interest rates a maximum of two times this year

BlackRock CEO Larry Fink predicts the Fed will cut interest rates a maximum of two times this year and containing inflation will be a challenge for this central bank.

CEO Fink told CNBC on Friday after the asset management company released its first-quarter results that he would "consider the target accomplished" if the inflation rate falls to around 2.8% to 3%, which is higher. Fed's 2% target.
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GOLD reversed sharply from record peak
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🟥Former US State Department official William Lawrence: The United States wants to adopt a non-escalatory stance and search for a solution to conflicts and conflicts, and the Iranian attack failed by 99%.
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Over the past week, gold prices have experienced an impressive increase to $2,400 despite the strength of the US dollar and currently XAU/USD is trading around $2,360. The reason for this partly comes from the market's risk aversion as geopolitical tensions in the Middle East continue to increase.
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Gold falls below $2,349

Gold turned down to below $2,349 from above $2,362 in the European session

The market awaits US retail sales data and Empire State manufacturing data released this evening
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Gold prices have been supported by other factors including strong buying by central banks, rising demand from Chinese consumers and rising geopolitical risks.
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🟢Gold prices rose to approach the record high level recorded last week

- The rise was supported by concerns about escalating geopolitical tensions between Iran and Israel

- Gold in spot transactions rose 0.2% to $2,387.11 per ounce, and US gold futures contracts increased 0.9% to $2,403.90.
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