The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
On Friday, gold attracted buyers amid expectations that the U.S. Federal Reserve will cut borrowing costs two more times this year.
Fed Chair Jerome Powell did not provide any new policy signals, but the minutes of the FOMC's September meeting, released Wednesday, confirmed ongoing concerns about inflation. Despite this, traders still largely expect two additional rate cuts by the Fed before the end of the year.
The U.S. government shutdown continues into its second week, with no progress on a funding agreement. On Thursday, the Senate rejected competing budget proposals for the seventh time and does not plan further votes until next week, when the upper chamber is expected to resume work on Tuesday.
Also on Thursday, U.S. President Donald Trump stated that Washington and its NATO allies are increasing pressure on Russia in an effort to end the conflict in Ukraine. Early Friday morning and into Saturday, Ukraine reported a large-scale Russian attack on Kyiv involving ballistic missiles and drones targeting critical infrastructure, causing significant power outages.
These developments sustain a high level of geopolitical risk and largely offset any optimism stemming from the first phase of the peace plan between Israel and Hamas regarding Gaza.
Additionally, moderate weakening of the U.S. dollar contributes to strengthening prices for precious metals, which appear poised for an eighth consecutive week of gains driven by favorable fundamental factors.
Technical Outlook
From a technical perspective, the current rise above the psychological level of $4000 faces initial resistance near $4035, ahead of the historical high in the $4059–4060 range reached on Wednesday. Continued buying above the historic high can be interpreted as a new catalyst for bulls, potentially pushing gold prices toward the round level of $4100.
On the downside, bears would need to wait for sustained selling pressure below the $3944 level before preparing for a more pronounced decline.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
