Market Analysis for Today

European and US markets are closed due to a long Easter weekend, so news flows are light. San Francisco Federal Reserve (Fed) President Mary Daly crossed the wires and said that the economy is in a good place, though some sectors are slowing down. She added that policy remains restrictive in good place, exerting downward pressure on inflation, and added that neutral rates “may be rising.”

Bullion prices dropped after hitting an all-time high (ATH) of $3,358 as traders booked profits due to the long weekend. Wednesdays hawkish speech by Fed Chair Jerome Powell capped the precious metal advance, even though uncertainty over US trade policies and geopolitical risks may underpin Gold prices.

Gold opened at around 3230 and rose to around 3261 at the highest and around 3229 at the lowest before press time.Pay attention to the resistance of 3370-3380-3390 If it fais to break through, it will test 3390-3290-3280