GOLD - Gold Selling Strategy, after PMI news marked a downtrend
Gold inched slightly as futures traders were able to offset recent selling pressure.
It's still going to be a busy week for the market as the US jobs report for June is due out on Friday. The main nonfarm payrolls figure is forecast to increase by 240,000 compared with a gain of 339,000 in the May report.
According to commodity analysts at Heraeus Precious Metals, an aggressive Federal Reserve could keep pressure on gold prices for longer.
The latest report on Monday from the precious metals research firm said that the development of a new glimmer of Federal Reserve Chairman Jerome Powell after the July meeting, combined with fearsome data for the economy My economic outlook over the past month has raised expectations for more rate hikes.
They noted that the yellow metal has weakened as market uncertainty from the US regional bank collapse in May has dissipated.
XAUUSD SELL 1928- 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
It's still going to be a busy week for the market as the US jobs report for June is due out on Friday. The main nonfarm payrolls figure is forecast to increase by 240,000 compared with a gain of 339,000 in the May report.
According to commodity analysts at Heraeus Precious Metals, an aggressive Federal Reserve could keep pressure on gold prices for longer.
The latest report on Monday from the precious metals research firm said that the development of a new glimmer of Federal Reserve Chairman Jerome Powell after the July meeting, combined with fearsome data for the economy My economic outlook over the past month has raised expectations for more rate hikes.
They noted that the yellow metal has weakened as market uncertainty from the US regional bank collapse in May has dissipated.
XAUUSD SELL 1928- 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
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Running +60Pips ✅
