GOLD - USD - Gold might continue decline to 2316 - 05/24/2024 (GMT)

Hi traders!

Another potential idea for this week is intraday short for Gold.
Precious metals are under pressure after FOMC minutes this week, which point to uncertainty about the interest rate decline. Yields of 30-year bonds and Fedwatchtool indicate the tightness of the FED and a potential strengthening of the US dollar in the short-term.

This may give a quick opportunity to ride the decline from 2341 to 2316.

Later this day, we have a scheduled publication of the PCE index (FED's inflation), so keep an eye on it, as volatility may pop up during the publication.

Also, there will be a Memorial Day on Monday and the US markets will be closed. Thus, volumes might stay muted across the board.

Trade well and good luck!