📊 Product: XAU/USD 📉 Prediction: Decrease ⚫ Fundamental Analysis: Spot gold prices dropped again, hitting a two-month low during the session as the rising U.S. Dollar Index reached a yearly high, making gold less attractive for non-U.S. buyers. Recent comments from Federal Reserve Chair Jerome Powell suggested there might not be a rate cut in December, which added pressure on gold prices. Powell mentioned there is no rush to cut rates, which led to a drop in gold. Gold remains under pressure due to the strong dollar and recent U.S. inflation data. U.S. Producer Price Index (PPI) data exceeded expectations, suggesting the Fed might reconsider its easing cycle. According to data from the U.S. Bureau of Labor Statistics, October’s PPI rose by 2.4% year-on-year, higher than the expected 2.3% and September's 1.9%. The core PPI, often influencing the core Personal Consumption Expenditures (PCE) Price Index, increased by 3.1% from the previous year, above the prior 2.9% and the forecasted 3%. ⚫ Technical Analysis: Gold prices recently fell below the October 10 low of $2,603 per ounce, accelerating their decline after breaking the $2,600 mark. This opened the way for a two-month low of $2,536 per ounce. Gold briefly dropped below its 100-day Simple Moving Average (SMA) of $2,547. If prices go below $2,536, they could fall further toward the $2,500 level. The Relative Strength Index (RSI) has moved away from the neutral line, indicating a bearish trend, which may lead to more declines. On the upside, the first resistance level is around $2,600. If buyers regain this level, prices could test the 50-day moving average of $2,650, followed by resistance near $2,700. A break above these levels could open the path to the November 7 high of $2,710 per ounce. Register account https://41p9t7wkj.kvbii.com #KVB# #KVBOfficial# #KVBGlobal# #KVB# Broker# #KVBEconomicCalendar# #KVBNews# #EconomicCalendar# #MarketUpdates# #stockexchange# #stockmarketnews# #stock#Signal#