⚡️Gold continued to trade at a 5-month low after the minutes of the July monetary policy meeting of the US Federal Reserve (Fed) were released. The minutes showed that the majority of the bank's officials continued to prioritize fighting inflation, while only a few pointed to the risks to the economy by pushing interest rates too far.
⚡️Yields on 10-year US government bonds hit a 10-month high shortly after the release of Fed minutes, pushing the dollar to its highest level since mid-June, easing attractiveness, driving investors away from non-yielding assets like gold.
⚡️Experts said that the loosening monetary policy of the central bank will help the economy recover better, when consumers can easily access loans for shopping. Financial investors will gradually shift capital from capital-preserving assets such as gold to investing in production and business industries or other profitable assets. This has caused gold to lose its position in the market.
⚡️The gold market is oscillating around the critical level - $1,900, a level where neither the bulls nor the bears have been able to establish a clear direction.
⚡️You can set SELL around 1903-1905, SL 1910, TP 1895, 1890. Wish you successful trading.
⚡️Yields on 10-year US government bonds hit a 10-month high shortly after the release of Fed minutes, pushing the dollar to its highest level since mid-June, easing attractiveness, driving investors away from non-yielding assets like gold.
⚡️Experts said that the loosening monetary policy of the central bank will help the economy recover better, when consumers can easily access loans for shopping. Financial investors will gradually shift capital from capital-preserving assets such as gold to investing in production and business industries or other profitable assets. This has caused gold to lose its position in the market.
⚡️The gold market is oscillating around the critical level - $1,900, a level where neither the bulls nor the bears have been able to establish a clear direction.
⚡️You can set SELL around 1903-1905, SL 1910, TP 1895, 1890. Wish you successful trading.
Comment:
Gold prices kicked off the week in a positive mood, just below the $1900 mark per troy ounce. The uptick, however, was amidst a small drop in open interest and removes some strength from further recovery in the very near term. That said, the commodity might enter a consolidative phase around current levels for the time being.
Comment:
Gold is following my analysis. Do you think gold will find our entry
Comment:
Just like my analysis, gold has reached the peak of 1902. expect gold to have a slight recovery to find the resistance zone of 1906.
Trade closed: target reached:
Hit TP +150 pips, congratulation
Comment:
according to my analysis. Gold hit the nearest resistance area and fell slightly. To see if gold can break the downtrend or continue the deep downtrend, please pay attention to follow Mars' strategy
Comment:
gold today has surged to break 1920. We are waiting to see a bounce from the market.
Comment:
