GOLD 30/06: Gold price at the weekend

Jun 30, 2023

GOLD The US central bank has signaled that borrowing costs could still rise by as much as 50 basis points by the end of the year. Adding to that, upbeat US macro data due out on Thursday and Fed statement continued to push US Treasury yields higher and support the USD.

The USD Index (DXY) climbs to a new two-week high. However, it remains to be seen whether the USD bulls can maintain their dominance or choose to take profits ahead of the release of the US Core PCE Price Index - Fed's preferred inflation gauge.

Gold prices met fresh supply at the end of the week and extended the day's steady downtrend into the early European session.

My strategy for tonight is to watch the $1915 sell zone.

Jun 30, 2023

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The entry point is coming soon