Technical analysis of gold
The yellow metal is moving in a sideways motion inside the WFVG area which represents important levels for price rebounds upward. Prices have bounced multiple times from the 3958 level. Currently prices are trading around the 4008 level and it is expected during the day that gold prices will continue to rise.
Key economic news
The government shutdown still has not ended and there are no employment announcements today only inflation expectations and consumer sentiment from the University of Michigan which will therefore also affect metals in general.
Liquidity levels
Prices are expected to rise and target 4045 if there is an hourly candle close above it. A visit to 4110 is then expected followed by 4252. The bullish scenario is invalidated if an hourly candle closes below 3885.