📊 Product: XAU/USD 📈 Prediction: Increase ⚫ Fundamental Analysis: Gold prices reached a new record high during the Asian session on Wednesday, driven by ongoing safe-haven demand due to uncertainty around the U.S. presidential election and tensions in the Middle East. Additionally, a slight pullback in the U.S. Dollar from a three-month low and falling U.S. bond yields provided support for XAU/USD. Spot Gold surpassed the $2,770 mark as investors sought safety ahead of key economic data and the upcoming elections. The market gained momentum after the release of U.S. data, including a rise in the Conference Board Consumer Confidence Index to 108.7 in October, up from 99.2 in September. However, an employment report showed job openings at 7.44 million, indicating a cooling labor market, which the Federal Reserve may view positively due to easing wage pressures. Investors remain cautious, awaiting the preliminary Q3 Gross Domestic Product estimate and Friday’s Nonfarm Payrolls report. The U.S. will also release the Personal Consumption Expenditure Price Index, a key inflation measure for the Fed, which could influence its monetary policy decision scheduled for November 7, just after the presidential election. ⚫ Technical Analysis: XAU/USD has pulled back from its recent high but is holding most of its intraday gains, trading around $2,766. Daily chart indicators suggest potential for further upward movement. The 20 Simple Moving Average is rising and currently sits around $2,685, while longer moving averages are also gaining bullish momentum, positioned over $300 below the current price. In the 4-hour chart, indicators support a bullish trend, moving upwards within positive territory and approaching overbought levels but still with room to rise. The 20 SMA is providing dynamic support at approximately $2,740.60, while the 100 and 200 SMAs remain strongly bullish, positioned well below. Register link https://41p9t7wkj.kvbii.com