Gold holding almost a record maximum because the fed cut is building a large

• Golden consolidates nearly $ 3,650, It holds on a close range after a record of this week at a high level of nearly $ 3,675.
• The demand of the safe Havana remains strong, powered by global trade voltages and geopolitical risk.
• The markets are fully worth the 25 BPS at the 17th September Fed, and +90% probability says CME Fedwatch.

Gold (Xau/USD) is traded on Friday with a positive tone, and after a reflection from Thursday’s Pullback, almost $ 3,650 is consolidated. The precious metal remains stuck in a narrow range after a maximum of nearly $ 3,675 at the beginning of this week.

Despite the side price action, gold is on the fourth direct weekly profit, supported by a wider weaker US dollar (USD) and the growing belief that Federal reserve (Fed) will reduce rates to the meeting next week.

The latest dose of US data has given a lot of reasons to alleviate monetary policy. August Consumer Price Index (CPI) confirmed that the heading inflation remains slightly hot, but a wider narrative is one of the cooling economies. Nonfarm Payrolly (NFP) almost stopped in August, earlier job growth was sharply revised sharply, and the initial demands without work climbed to a multi -year maximum. At the same time, the manufacturer’s price pressure increased.

Together, these indicators overshadowed inflationary concerns and stressed that the risks of the disadvantages for employment increase, which will reduce the feed rates next week.

In addition to the US outlook, wider market factors also prefer metal. Persistent geopolitical tension and trade friction linked to American tariffs maintain demand alive and strengthen wide bull view for Gold.

Market drivers: Gold steanies in the middle of sticky inflation, soft work data

• American inflation rose in August and the CPI headline increased by 0.4% per month of 0.2% increase in July, which slightly passes above 0.3% of the forecast. On the annual base, the main inflation increased by 2.9%, which corresponded to expectations and previously 2.7%. Core CPI, which excludes food and energy, holds stable to 0.3% of mothers and 3.1% year -on -year, as in July and fully in accordance with the forecasts.
• American initial initial demands on unemployment in the week of the week ending in September increased to 263,000 and called the highest level in nearly four years. The four -week gliding diameter also climbed to approximately 240,500 and pointed to a clear upward trend in the release. While the continued demands on unemployment have held almost 1.94 million, the steady increase in new applications emphasizes the growing pressure on the labor market and is added to the case to reduce the feed rates for the next week.
• The US dollar index (DXY), which monitors the Greenback value against a basket of six main currencies, is stabilized after Thursday’s move. The index is traded around 97.66, which is about 0.12% per day. The modest rebounds in Greenback act as a support for gold and reduce the potential of the metal.
• The US fares revenue jumped to about $ 30 billion in August, which meant the first whole month according to the reciprocal regime of US President Donald Trump.
• The Financial Times reported on Thursday that the US is pushing the G7 allies to deposit steep tariffs on their continuing purchases of Russian oil, which aims to exert economic pressure on Moscow and force it to peace interviews.
• The preliminary survey of the University of Michigan has shown consumers’ sentiment to 55.4, out of 58.2 in the previous month and below the forecast 58. The consumer expectation index came to 51.8, compared to 55.9 earlier and 54.9 expected. The expectation of inflation has shifted higher. The one -year outlook remained 4.8%, while the five -year measure increased to 3.9%of 3.5%.

Technical Analysis: Xau/USD Consolidates below Record Maxima

Xau/USD is consolidated on a 4 -hour chart just below the historically highest nearly $ 3,675. In recent sessions, the price action has been limited to a narrow band between $ 3,620 and $ 3,650, reflecting a break in dynamics after a strong assembly at the beginning of this week.

Simple moving average (SMA) 21 periods (SMA), currently nearly $ 3,640, acts as immediate support, while 50 SMA periods around $ 3,596 provides a stronger pillow that closely corresponds to a psychological level of $ 3,600. On the other hand, the immediate resistance is located at the upper end of the current range near $ 3,650, followed by a record at $ 3,675. A clear break over this zone could open the way to a psychological level of $ 3,700.

The movements indicators are in accordance with consolidation in the ongoing bull trend. RSI holds around 61 after slipping back to the neutral level on Thursday, indicating that momentum has stabilized in a positive area and that the buyers did not give up controls. The ADX remains increased around 42, which indicates that the basic trend is still strong, although the directional force has been slightly reduced.