USD soared, causing world gold prices to fall
Gold the day past fell deeply to the 229x location and is having a mild restoration with Rsi oversold.
With the primary fashion of the marketplace being down, it's far very viable that Gold Today`s rate will growth 5>7 greater instances earlier than reducing further.
Today's Plan I will Buy consistent with rsi and look ahead to accurate factors to promote consistent with the Trend.
All buyers are looking Buy GOLD 2297>2300
SL 2295
City 2306>2313
Canh Sell Gold on 2310>2313
SL 2316
City 2306>2288
Prioritize Selling consistent with Trends and Buying Small Vol
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World gold price 'cools down'
According to expert analysis, the direct factor causing world gold prices to fall is the high USD and sharp increase in US government bond yields, at the same time investors are interested in expected US inflation data. announced this week.
Head of commodity strategy at TD Securities, Mr. Bart Melek, commented: "At the present time, the market is likely reacting to information with the USD, and at the same time the market continues to influenced by expectations that the US Federal Reserve (Fed) will likely not take any action related to interest rates this summer."
The USD increased 0.4% to its highest level in 2 months compared to the currencies of G7 countries, so gold became more expensive for investors owning other currencies. At the same time, the 10-year US Treasury bond yield hit its highest level in 2 weeks.
This week, the focus of the market's attention is the US consumer spending index (PCE), an index that the Fed is very interested in in its policy decisions. The performance of the PCE index will have a certain influence on the Fed's policy decisions.
In addition, data on US GDP in the first quarter of 2024 and information related to the debate between US President Joe Biden and Donald Trump will also attract great attention.
Data released on Tuesday this week showed that US consumer confidence in June 2024 cooled amid worries about the major economic outlook, although consumers still believe that US inflation in 2025 will less stress.
With the primary fashion of the marketplace being down, it's far very viable that Gold Today`s rate will growth 5>7 greater instances earlier than reducing further.
Today's Plan I will Buy consistent with rsi and look ahead to accurate factors to promote consistent with the Trend.
All buyers are looking Buy GOLD 2297>2300
SL 2295
City 2306>2313
Canh Sell Gold on 2310>2313
SL 2316
City 2306>2288
Prioritize Selling consistent with Trends and Buying Small Vol
--
World gold price 'cools down'
According to expert analysis, the direct factor causing world gold prices to fall is the high USD and sharp increase in US government bond yields, at the same time investors are interested in expected US inflation data. announced this week.
Head of commodity strategy at TD Securities, Mr. Bart Melek, commented: "At the present time, the market is likely reacting to information with the USD, and at the same time the market continues to influenced by expectations that the US Federal Reserve (Fed) will likely not take any action related to interest rates this summer."
The USD increased 0.4% to its highest level in 2 months compared to the currencies of G7 countries, so gold became more expensive for investors owning other currencies. At the same time, the 10-year US Treasury bond yield hit its highest level in 2 weeks.
This week, the focus of the market's attention is the US consumer spending index (PCE), an index that the Fed is very interested in in its policy decisions. The performance of the PCE index will have a certain influence on the Fed's policy decisions.
In addition, data on US GDP in the first quarter of 2024 and information related to the debate between US President Joe Biden and Donald Trump will also attract great attention.
Data released on Tuesday this week showed that US consumer confidence in June 2024 cooled amid worries about the major economic outlook, although consumers still believe that US inflation in 2025 will less stress.
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🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/TheLeader_WOLF
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