The current gold market is experiencing a lack of momentum due to the Thanksgiving holiday and the recent increase in German inflation.
The trading range for gold is between $2,540 and $2,800, with the low on November 14 serving as a crucial support zone and the high from October 31 as an important target for upward movement.
Geopolitical factors, particularly the ongoing conflict in the Middle East, are also influencing gold prices.
The market's response to inflation data and central bank signals will be crucial in determining the future trajectory of gold prices. Traders are closely monitoring these factors and the potential for volatility remains high.
The upcoming inflation data from the eurozone will be a significant catalyst for market movement and will impact monetary policy and overall economic conditions.