Coffee Concentrate Market was valued at USD 3.42 Billion in 2023 and is expected to grow at a CAGR of 8.92 Percent over the forecast period to reach USD 6.22 Billion by 2030.Coffee Concentrate Market is segmented into Coffee Concentrate by Product Type, End User, Product Format, and Region. For the estimation of the Coffee Concentrate Market size, the bottom-up approach was used.

To access more details regarding this research, visit the following webpage:https://www.stellarmr.com/report/Coffee-Concentrate-Market/1942

Coffee Concentrate Market Overview

The coffee concentrate is incredibly strong, highly concentrated coffee that can be used to make your favourite coffee drinks such as iced coffee, and regular coffee as well as cocktails and desserts. Coffee concentrate is made by placing coarsely ground coffee beans in cold water and leaving it to brew. The result is a highly concentrated liquid, which when diluted becomes palatable. It can then be used to make almost any coffee drink.

Coffee Concentrate Market Dynamics

The coffee concentrate market is driven by the growing demand for convenient beverage options in today’s fast-paced lifestyles, changing consumer preferences towards premium and specialty coffee products, and increasing health awareness leading to the adoption of healthier alternatives like cold brew concentrates. Continuous innovation in flavors, formulations, and packaging formats, coupled with expanding distribution channels, contributes to market growth. Additionally, the overall rise in coffee consumption globally, driven by urbanization and lifestyle changes, further propels the market forward, while the emphasis on environmental sustainability encourages the development of eco-friendly coffee products and packaging, appealing to environmentally conscious consumers and driving market competitiveness.

North America leads the market, driven by a strong coffee culture, increasing demand for convenient beverage options, and a growing preference for premium and specialty coffee products.

coffee concentrate consumption is fueled by the popularity of cold brew variants, health-conscious consumer trends, and a preference for artisanal and sustainable coffee options. The Asia Pacific region exhibits significant growth potential, supported by rapid urbanization, changing lifestyles, and the rising adoption of Western coffee consumption habits. Latin America, known for its rich coffee heritage, presents opportunities for market expansion with its abundance of high-quality coffee beans and growing interest in innovative coffee products. Africa, with its emerging coffee culture and growing middle class, holds promise for market growth, particularly in countries with increasing urbanization and disposable incomes.

For in-depth information on this study, visit the following link:https://www.stellarmr.com/report/req_sample/Coffee-Concentrate-Market/1942

Coffee Concentrate Market Segmentation

By Type

Caffeinated

Decaffeinated

Caffeinated coffee concentrates hold a prominent position in the market, drawing in consumers who crave the familiar taste and invigorating effects of traditional coffee.

This segment commands a substantial share due to the widespread preference for caffeinated beverages among both coffee enthusiasts and casual drinkers. Conversely, the decaffeinated coffee concentrate segment, though smaller, is witnessing growth as consumers increasingly prioritize wellness and seek flavorful options devoid of caffeine’s stimulating effects.

By Distribution Channel

Supermarkets and Hypermarkets

Convenience Stores

Online Retail Platforms

Others

By Packaging

Bottles

Pouches

Others

By Source

Arabica

Robusta

Others

To Learn More About This Study, Please Click Here:https://www.stellarmr.com/report/req_sample/Coffee-Concentrate-Market/1942

Coffee Concentrate Market’s Key Players include:

Starbucks Corporation (Seattle, Washington, United States)

Nestlé S.A. (Vevey, Switzerland)

JAB Holding Company (Luxembourg City, Luxembourg)

Illycaffè S.p.A. (Trieste, Italy)

The Coca-Cola Company (Atlanta, Georgia, United States)

Keurig Dr Pepper Inc. (Burlington, Massachusetts, United States)

Suntory Holdings Limited (Tokyo, Japan)

UCC Ueshima Coffee Co., Ltd. (Kobe, Japan)

Califia Farms LLC (Los Angeles, California, United States)

La Colombe Coffee Roasters (United States)

Key questions answered in the Coffee Concentrate Market are:

What is Coffee Concentrate?

What was the Coffee Concentrate Market size in 2023?

What is the expected Coffee Concentrate Market size by 2030?

What is the growth rate of the Coffee Concentrate Market?

What are the key benefits of the Coffee Concentrate Market?

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)

Past Pricing and price curve by region (2018 to 2022)

Market Size, Share, Size & Forecast by different segment | 2023 -2030

Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

Market Segmentation – A detailed analysis by Type, Distribution Channel, Packaging, Source, and Region

Competitive Landscape – Profiles of selected key players by region from a strategic perspective

Competitive landscape – Market Leaders, Market Followers, Regional player

Competitive benchmarking of key players by region

PESTLE Analysis

PORTER’s analysis

Value chain and supply chain analysis

Legal Aspects of Business by Region

Lucrative business opportunities with SWOT analysis

Recommendations

Stellar Market Research is a leading Consumer Goods & Services research firm that has also published the following reports:

Microneedling Market https://www.stellarmr.com/report/Microneedling-Market/2047

Daptomycin Market https://www.stellarmr.com/report/Daptomycin-Market/2065

Febrile Seizures Market https://www.stellarmr.com/report/Febrile-Seizures-Market/2064

Car Air Purifier Market https://www.stellarmr.com/report/Car-Air-Purifier-Market/2069

Cheilectomy Market https://www.stellarmr.com/report/Cheilectomy-Market/2055

Contact Stellar Market Research:

S.no.8, h.no. 4-8 Pl.7/4 Kothrud

Pinnac Memories Fl. No. 3

Kothrud, Pune, Maharashtra, 411029

sales@stellarmr.com

+91 9607365656

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.

Natural Gas Technical Analysis

Natural gas markets fell initially during the early hours on Thursday, but then turned around to show signs of support. With that being said, the market is likely to continue to be very noisy, but the $3 level above is a significant barrier that I think is going to be very difficult to overcome. Keep in mind, we’re in the midst of a heat wave here in America, and that does have an influence on pricing, but we also have to also keep in mind that this time of year generally isn’t that positive for natural gas after all.

You have a situation where, unless it’s hot, the demand for natural gas, i.e. electricity, is going to be somewhat limited. Most people are outside. Also, another thing to keep in mind is, if the economy is slowing down, the demand for natural gas will drop. On the positive side though, we have a shortage in Europe yet again, and at this point in time, it seems as if that could come into the picture over the next several months.

What is the price of platinum today?

The price of platinum opened at $1,017.92 per ounce, as of 9 a.m. That’s up 1.24% from the previous day and up 3.05% from the beginning of the year.

The lowest trading price within the last day: $999.40 per ounce. The highest platinum spot price in the last 24 hours: $1,023.94 per ounce.

Platinum spot price

Platinum price chart

The chart below shows how the spot price of platinum is trending over the year.

Year to date, platinum is up 3.05%, as of 9 a.m. The 52-week high reached $1,083.27 on May 22, 2023, and the 52-week low dropped to $843.15 on Nov. 10, 2023.

The precious, silvery-colored metal is priced in U.S. dollars. This means that the fluctuations in the value of the U.S. dollar can impact its price.

The price of XPT/USD reflects the value of one ounce of platinum in U.S. dollars, and it is traded like traditional currency pairs. Because platinum trades occur globally, investors can also track the spot price of platinum in other currencies, such as XPT/EUR for euros and XPT/GBP for British pounds.

Factors that can influence the price of platinum include changes in demand, geopolitical events and tensions in major platinum-producing countries. Of course, investor opinion and speculation can also affect prices.

Precious metals prices

Platinum is one of four main precious metals investors can trade via physical bullion, exchange-traded products or futures contracts. Gold, silver and palladium spot prices are also updated 24/7 in various currencies.

Platinum price vs. gold

Currently, platinum trades at $1,017.92 per ounce, as of 9 a.m., compared to gold, which trades at $2,348.35 per ounce. Year to date, platinum prices are up by 3.05% and gold prices are up by 13.65%.

“Historically, platinum has often been more expensive than gold due to its relative scarcity and unique properties. However, the price of platinum can fluctuate in response to changing market conditions,” said John Bergquist, president of Elysium Financial.

Political instability and supply disruptions in major platinum-producing regions like South Africa and Russia affect prices.

The silvery metal also tends to be a less reliable store of value than gold.

While historically, platinum has been pricier than gold, that flip-flopped briefly in August 2011. When looking at the gold-to-platinum price ratio, platinum was priced above gold from January 2013 until December 2014. Since then, gold has more than doubled its value compared to platinum prices.

History of platinum prices

Like any metal, the price of platinum can be volatile. Various factors affect it, the most significant being supply and demand dynamics. Other factors, such as economic conditions, geopolitical events, and changes in industrial and investment demand, can also impact the price of platinum.

At the start of the new millennium, the precious metal’s spot price was around $420. Fast-forward over 20 years, and the current price of platinum has more than doubled.

The spot price soared to new heights, trading in February 2008 at around $2,200 per troy ounce. In November of that year, the price returned to less than $1,000.

Platinum’s spot price has fluctuated between around $800 to $1,400 for the past decade, hovering around the $1,000 threshold on average.

Platinum prices today remain historically low. Prices dropped as low as $623.50 in March 2020 during the COVID-19 pandemic. While prices have recovered, platinum is nowhere near its all-time high of $2,213.20, set on March 3, 2008.

Platinum futures

Futures contracts let investors speculate on the future price movements of an underlying asset like platinum.

These financial contracts represent an agreement between two parties to trade a set amount of platinum at a specified price at a future date. They can be settled by exchanging the physical commodity or cash in place of the commodity.

Futures contracts differ from spot prices in that futures contracts establish a future price whereas spot prices are for immediate delivery. These contracts can be fulfilled by trading the physical commodity or exchanging cash in place of the underlying asset. They are usually traded through an exchange.

Investing in platinum

The automotive industry creates the highest demand for platinum. Platinum is a key component in manufacturing catalytic converters, which are responsible for reducing vehicle emissions.

In addition to the automotive industry, platinum is widely used in the industrial industry to create medical products, nitric acid and glass. As the demand for these products rises, so does the price of platinum.

It is anticipated that platinum will play an essential role in the development of hydrogen technology. Platinum is used to produce carbon-free hydrogen from renewable energy.

“If hydrogen-based power meets expectations in the coming decade, then one could expect a material demand tailwind in platinum,” said Stash Graham, managing director of Graham Capital Wealth Management.

Precious metals such as platinum, gold and silver have long been used to diversify an investment portfolio.

When choosing investments, it is crucial to consider potential drawbacks. While there may be an increase in the demand for platinum, other factors may throw a wrench in the investment benefits.

When considering an investment, it is essential to consider your current holdings and individual financial goals.

Platinum is rarer than both silver and gold, which could make it attractive to investors seeking a scarce metal. This practice helps protect other holdings, such as stocks, in an economic downturn. Investing in platinum can help balance inflation and economic uncertainties.

Frequently asked questions (FAQs)

What is the highest price platinum has ever been?

The highest platinum price was $2,213 on March 3, 2008. This notable high can be attributed to critical supply issues in South Africa, the world’s largest platinum producer. Both geopolitical and economic factors played a role in this price hike during the recession.

How is the spot price of platinum determined?

The London Bullion Market Association is responsible for price auctions of platinum and other industrial metals.

X

Lower Rates Key Driver, But Market Fully Priced In

Lower interest rates are the main driver for gold, reducing the opportunity cost of holding non-yielding bullion. However, the market already expects at least one rate cut, with this scenario fully priced into the dollar. Furthermore, stable government gold purchases suggest limited upside unless a significant change in the current environment occurs. Support remains near the $2,300 level.

Geopolitical Uncertainty Adds Tailwind

Upcoming elections in France and the UK add a layer of geopolitical uncertainty, which can be a positive for gold. This uncertainty, coupled with pockets of economic weakness like the disappointing retail sales data, could provide further support for gold prices. A recent pause in central bank buying, particularly by China, has tempered some upside momentum, but a resumption of buying could act as a catalyst.

Focus Shifts to Upcoming Data

The immediate focus for gold traders now shifts to Thursday’s U.S. weekly jobless claims data and Friday’s flash purchasing managers’ indexes. This data will provide further clues on the health of the U.S. economy and potentially influence the Fed’s monetary policy stance. A strong economic showing could trigger a pullback in gold prices, but absent a hawkish shift from the Fed, expect gold to hold its ground and potentially make another run at its record highs.

Short-Term Forecast: Bullish

Despite the current pause, the fundamental backdrop for gold remains supportive. Dovish Fed expectations and potential for further economic weakness should continue to underpin prices in the near term. While the recent consolidation phase may test investors’ patience, a strong showing in the upcoming economic data is the only major risk on the horizon. Absent a hawkish surprise from the Fed, expect gold to hold its ground around $2,300 and potentially challenge its record highs again.

Technical Analysis

20-Day MA Retains Trend Support

This week’s bounce from the 2.76 swing low confirms the 20-Day MA as an applicable moving average to use for the current aggressive uptrend that began from the April 26 bullish reversal and breakout of a symmetrical triangle bottom. A daily bullish reversal yesterday set the stage for a continuation of the uptrend following an upside breakout of a bull pennant and break above the trendline last week.

The retracement exceeded 50% of the near-term swing and was a little shy of the 61.8% Fibonacci retracement at 2.74. It was a normal and healthy retracement following a 1.57 point or 99.2% advance in 31 days when measured from the April 25 swing low.

Bullish Weekly Candle Will Counter Last Week’s Bearish Sentiment

Last week ended with a bearish weekly shooting star candlestick pattern that triggered on Monday with a drop below 2.86. If this week’s low of 2.76 is retained as support and natural gas can end this week in the top third of the week’s range, it will have formed a weekly bullish pattern. Therefore, if it does so, heading into next week it will be positioned to trigger a weekly bullish reversal with an advance above this week’s high. This week’s bearish weekly reversal would then be negated.

Watching for Breakout Above 3.16

A rally above last week’s trend high of 3.16 will trigger a continuation of the rising trend. While natural gas may still encounter resistance up to approximately 3.20 (top of resistance zone from 3.18 to 3.20), the bullish momentum from a second and confirming breakout of the trendline should help propel it through that price range. The area around the swing high of 3.39 from early-January would then be the next higher target. That swing high is part of the downtrend price structure as it is a lower swing high.

For a look at all of today’s economic events, check out our economic calendar.

XAU/USD Current price: $2,330.47

• Gold lacks directional strength, but keeps trading near record highs.
• Financial markets will trade on sentiment for much longer than believed.
• XAU/USD extends its consolidative phase above the $2,300 mark.

Gold has shown little signs of life in the last few days, but it’s worth remembering it stands at record levels. XAU/USD hit an all-time high of $2,449.92 in mid-May. The former record high was set two years ago at $2,070.45, way below its current comfort area above the $2,300 mark. With back and forths in between, XAU/USD has managed to add roughly 20% from the March 2022 peak. As a note of color, Gold was changing hands at around $1,550 when the Coronavirus pandemic hit the world early in 2020.

It’s not just about Covid-19. Recession, inflation, and war are also on the list of top concerns. What’s clear is that sentiment has taken over the lead of financial markets and will stay here for quite some time. Indeed, a corrective slide seems likely, but more likely, it seems speculative interest adding on dips. Uncertainty, now focused on when and how central banks will bring interest rates to “normal” levels, will last for much more than what everyday investors may believe.

Anyway, in the near term, the bright metal is lifeless amid a holiday in the United States (US). The country celebrates Juneteenth, and local markets are closed for the day. That said, there are no macroeconomic data or Federal Reserve (Fed) speakers to act as intraday catalysts for the US Dollar.

The next big event is the Bank of England (BoE) monetary policy decision on Thursday, although the announcement tends to have a limited impact on Gold prices. Policymakers have to deliver a huge surprise to actually move the bright metal bar.

XAU/USD short-term technical outlook

From a technical point of view, the daily chart shows a mildly bearish 20 Simple Moving Average (SMA) provides dynamic resistance, capping advances for a fourth consecutive day. At the same time, technical indicators stand flat just below their midlines, reflecting the absence of speculative interest. Finally, the 100 and 200 SMAs head firmly north, far below the current level, suggesting any upcoming side may be just corrective.

According to the 4-hour chart, XAU/USD is neutral in the near term. A mildly bullish 20 SMA provided intraday support at around $2,325, but sellers rejected advances around a marginally bearish 100 SMA. The 200 SMA, in the meantime, remains far above the current level, lacking directional strength. In the meantime, technical indicators rest just above their midlines, unable to provide directional clues.

Support levels: 2,325.00 2,314.25 2,298.10

Resistance levels: 2,334.00 2,351.90 2,366.30

XAU/USD Current price: $2,330.47

• Gold lacks directional strength, but keeps trading near record highs.
• Financial markets will trade on sentiment for much longer than believed.
• XAU/USD extends its consolidative phase above the $2,300 mark.

Gold has shown little signs of life in the last few days, but it’s worth remembering it stands at record levels. XAU/USD hit an all-time high of $2,449.92 in mid-May. The former record high was set two years ago at $2,070.45, way below its current comfort area above the $2,300 mark. With back and forths in between, XAU/USD has managed to add roughly 20% from the March 2022 peak. As a note of color, Gold was changing hands at around $1,550 when the Coronavirus pandemic hit the world early in 2020.

It’s not just about Covid-19. Recession, inflation, and war are also on the list of top concerns. What’s clear is that sentiment has taken over the lead of financial markets and will stay here for quite some time. Indeed, a corrective slide seems likely, but more likely, it seems speculative interest adding on dips. Uncertainty, now focused on when and how central banks will bring interest rates to “normal” levels, will last for much more than what everyday investors may believe.

Anyway, in the near term, the bright metal is lifeless amid a holiday in the United States (US). The country celebrates Juneteenth, and local markets are closed for the day. That said, there are no macroeconomic data or Federal Reserve (Fed) speakers to act as intraday catalysts for the US Dollar.

The next big event is the Bank of England (BoE) monetary policy decision on Thursday, although the announcement tends to have a limited impact on Gold prices. Policymakers have to deliver a huge surprise to actually move the bright metal bar.

XAU/USD short-term technical outlook

From a technical point of view, the daily chart shows a mildly bearish 20 Simple Moving Average (SMA) provides dynamic resistance, capping advances for a fourth consecutive day. At the same time, technical indicators stand flat just below their midlines, reflecting the absence of speculative interest. Finally, the 100 and 200 SMAs head firmly north, far below the current level, suggesting any upcoming side may be just corrective.

According to the 4-hour chart, XAU/USD is neutral in the near term. A mildly bullish 20 SMA provided intraday support at around $2,325, but sellers rejected advances around a marginally bearish 100 SMA. The 200 SMA, in the meantime, remains far above the current level, lacking directional strength. In the meantime, technical indicators rest just above their midlines, unable to provide directional clues.

Support levels: 2,325.00 2,314.25 2,298.10

Resistance levels: 2,334.00 2,351.90 2,366.30

The $2.50 level is an area that I’d be interested in watching. And then again, the $2 level. I am long in this market via the ETF in the United States, the UNG ETF, but I don’t have a huge position and I certainly wouldn’t be levered to natural gas because this is a market that can jump quite wildly. And most retail traders just simply don’t have access to the kind of information that matters, plants opening, closing, output, input, pipes in the United States, transmission, whether or not storage is full or not, weather over the next week, which is always a bit of a question as well, and a whole litany of other geopolitical concerns.

It’s a very tough market. I don’t mind having exposure to it, I just don’t want to be highly levered. A pullback probably has me adding more to my position to take advantage of, maybe in the fall as temperatures start to get colder and we start to see winter over the horizon.

For a look at all of today’s economic events, check out our economic calendar.

From its 40-year high of 11.1% in October 2022, the headline rate of inflation – the consumer prices index (CPI) – is back to the Bank of England’s 2% target rate.

The government, naturally, will seek to take credit for it. Rishi Sunak, after all, promised to halve inflation last year and was quick to point to that when it happened.

It was a piece of chutzpah that brought to mind the old saying “success has many fathers, but failure is an orphan”.

If anyone deserves credit for bringing down inflation to the target rate, it is arguably the Bank of England, whose interest rate rises from December 2021 to August last year bore down on demand and on some of the inflationary pressures that can build in an economy when demand is too high.

In so far as the government can take credit for bringing down inflation, it is because – since the debacle of Liz Truss’s short spell in 10 Downing Street – Rishi Sunak and Jeremy Hunt have restored order to the public finances, calming the panic in markets which erupted when Ms Truss sought to introduce £45bn worth of unfunded tax cuts. 

From the depths it plumbed after the mini-budget in September 2022, sterling has rallied by 22% against the US dollar and by 9% against the euro.

All things being equal, that has brought down the cost of goods and services that the UK buys from the US and from countries in the Eurozone, which may at the margins have had an impact on inflation.

In other ways, though, government policies have helped push up inflation. Public sector pay between February and April this year, the latest period for which figures were available, was up 6.4% year on year. That obviously feeds into higher prices. 

The government has also just raised the national living wage by 9.8%, the biggest increase in history, which again will feed into higher prices, particularly in sectors such as hospitality. The chancellor has also actively increased inflation by raising taxes on tobacco, as he did last year.

So the government cannot really take that much of the credit for inflation falling to target.

The Bank’s Monetary Policy Committee deserves more. So, too, do some of the UK’s retailers. The latest figures published by the British Retail Consortium suggest Shop Price Inflation was running at an annual rate of just 0.6% in May – down from 1.3% in March. In other words, by bearing down on prices, retailers are contributing strongly to the decline in inflation. The market is competitive and consumers are benefiting.

In truth, though, most of the heavy lifting in bringing down inflation has come from so-called “base effects” – the impact of the corresponding “base” the previous year.

Prices can still be rising, but contribute to a lower headline rate of inflation. If the price of an item in the inflation basket was rising by 10% in April last year but was only rising by 5% in April this year, that automatically feeds through to a lower headline rate of inflation.

Inflation took off in 2022 mainly because of Russia’s invasion of Ukraine, which pushed up the price of oil and – thanks to Ukraine’s position as one of the world’s biggest exporters of corn, seed oils, wheat and rapeseed – a whole clutch of foodstuffs.

It had another boost when, at the end of 2022 and beginning of 2023, China suddenly relaxed its COVID restrictions – unleashing a big burst of demand from the world’s second-largest economy for commodities like oil. That pushed up prices elsewhere.

We have seen big falls in the energy price cap – a major contributor to lower inflation. Some of the biggest elements in the UK inflation basket – food and non-alcoholic drinks, clothing and footwear, furniture and household goods – are not rising in price to the extent that they were a year ago and certainly not to the extent they were in the autumn of 2022.

That is the main reason inflation has come back down to the Bank’s target rate.

A version of this analysis was first published a month ago as inflation dipped to 2.3%

XAU/USD Current price: $2,329.40

• United States Retail Sales missed expectations, Industrial Production resulted upbeat.
• US indexes maintain a positive tone after posting gains on Monday.
• XAU/USD approaches its comfort zone at around $2,330, with modest upward strength.

Spot Gold trades near $2,330 a troy ounce, with XAU/USD trimming early early losses. The pair fell towards the $2,300 mark throughout European trading hours, turning north following the release of United States (US) macroeconomic data. The country reported that Retail Sales rose a measly 0.1% in May, missing the 0.2% advance expected. Furthermore, the April reading was downwardly revised from 0.0% to -0.2%.

However, the US also released May Industrial Production data, which beat expectations by surging 0.9% MoM. Capacity Utilization in the same period rose 78.7%, better than the previous 78.2% and the 78.6% forecast.

The mixed news did little to change the generally optimistic mood among American investors. Wall Street closed in the green on Monday, and US indexes maintain the positive trajectory on Tuesday, with the Dow Jones Industrial Average and the S&p 500 extending weekly gains. The Nasdaq Composite, on the contrary, is down 16 points. As a result, the US Dollar is under near-term pressure against most of its major rivals.

XAU/USD short-term technical outlook

From a technical point of view, XAU/USD has made no progress. It trades within familiar levels for a second consecutive week. The daily chart shows it’s still developing below a bearish 20 SMA, providing dynamic resistance at around $2,335.00. At the same time, technical indicators have turned marginally lower but remain within negative levels, suggesting buying interest is not enough to trigger a bullish extension.

The near-term picture is neutral, although the risk skews to the upside. In the 4-hour chart, XAU/USD trades above a flat 20 SMA but below the 100 and 200 SMAs. The Momentum indicator aims modestly higher above its 100 line, while the Relative Strength Index (RSI) indicator aims north with more strength, standing at around 55.

Support levels: 2,314.25 2,298.10 2,286.70

Resistance levels: 2,335.00 2,351.90 2,366.30

XAU/USD Current price: $2,329.40

• United States Retail Sales missed expectations, Industrial Production resulted upbeat.
• US indexes maintain a positive tone after posting gains on Monday.
• XAU/USD approaches its comfort zone at around $2,330, with modest upward strength.

Spot Gold trades near $2,330 a troy ounce, with XAU/USD trimming early early losses. The pair fell towards the $2,300 mark throughout European trading hours, turning north following the release of United States (US) macroeconomic data. The country reported that Retail Sales rose a measly 0.1% in May, missing the 0.2% advance expected. Furthermore, the April reading was downwardly revised from 0.0% to -0.2%.

However, the US also released May Industrial Production data, which beat expectations by surging 0.9% MoM. Capacity Utilization in the same period rose 78.7%, better than the previous 78.2% and the 78.6% forecast.

The mixed news did little to change the generally optimistic mood among American investors. Wall Street closed in the green on Monday, and US indexes maintain the positive trajectory on Tuesday, with the Dow Jones Industrial Average and the S&p 500 extending weekly gains. The Nasdaq Composite, on the contrary, is down 16 points. As a result, the US Dollar is under near-term pressure against most of its major rivals.

XAU/USD short-term technical outlook

From a technical point of view, XAU/USD has made no progress. It trades within familiar levels for a second consecutive week. The daily chart shows it’s still developing below a bearish 20 SMA, providing dynamic resistance at around $2,335.00. At the same time, technical indicators have turned marginally lower but remain within negative levels, suggesting buying interest is not enough to trigger a bullish extension.

The near-term picture is neutral, although the risk skews to the upside. In the 4-hour chart, XAU/USD trades above a flat 20 SMA but below the 100 and 200 SMAs. The Momentum indicator aims modestly higher above its 100 line, while the Relative Strength Index (RSI) indicator aims north with more strength, standing at around 55.

Support levels: 2,314.25 2,298.10 2,286.70

Resistance levels: 2,335.00 2,351.90 2,366.30