XAUUSD Sideway in narrow range

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⚡️Mineral gold prices fall as latest US consumer price index data does not clearly show Federal Reserve policy implementation, Federal Reserve monetary policy has significant effects on prices gold because higher interest rates often reduce the appeal of non-yielding assets such as gold. As a result, heavy uncertainty surrounding the Federal Reserve's policy direction appears to be putting upward pressure on gold futures prices.

⚡️To fight inflation, the Fed has raised rates by 5.25% from a base of just 0.25% in March 2022. It is scheduled to decide on interest rates nex at its policy meeting on September 20.

⚡️Immediate projections of economists after the release of the latest CPI reading suggest the Fed will leave rates unchanged after a 25-basis point increase in July. Economists, however, think the central bank will opt for at least another rate hike before the end of the year, either at its November policy meeting or the one in December.

⚡️Technical analysis⚡️
⚡️The H4 frame shows a downtrend, the price is operating below the EMA, the RSI index is stable, it is estimated that gold today will move sideways in the 1908 - 1915 range before 2 important news are announced today. PPI and Unemployment Claims
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⚡️Whether gold will remain at $1,900/ounce is still a question, as US interest rates are likely to stay higher for longer. The dollar also remained steady at a near six-month high, limited despite gold's big gains.
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⚡️ After the PPI and Unemployment Claims news gold still holds above 1900
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⚡️ The dollar was also skewed higher from an ECB rate hike on Thursday that kept alive expectations that the Federal Reserve will follow suit with its own increase — if not at next week’s rate decision, then at least in November or December.
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⚡️Further gains in the yellow metal were tempered by a rebound in the dollar
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⚡️The dollar’s first weekly retreat in two months threw another lifeline at gold on Friday, helping secure the yellow metal’s hold on $1,900 territory and score a modest weekly gain of its own.
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⚡️Gold traded above $1,900 despite the recent rise in US bond yields and the USD. Economists at ANZ Bank analyze the yellow metal's outlook.
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⚡️ Bullion prices are also expected to see some safe haven demand amid concerns over a U.S. government shutdown, as top Republican lawmakers spar over defense spending and broader fiscal spending cuts.
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⚡️The plan is still working on trend
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⚡️The plan is still active
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⚡️Trading is taking places in tight ranges Tuesday as investors cautiously await news from Washington as Federal Reserve policymakers begin discussing their response to the U.S. economic outlook.
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⚡️The plan is still active
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⚡️Stronger U.S. Treasury yields also weighed on gold, as markets positioned for a hawkish outlook from the Fed.
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⚡️Gold's recent increase is limited, due to the increase in the dollar.
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