The world gold price fluctuated strongly in the US session on the night of June 26, from 1,935 USD/ounce, dropping sharply to 1,920 USD/ounce, then recovering slightly at 1,923 USD/ounce on the morning of June 27. Hedge demand in gold increased as tensions increased. In response to events in Russia, gold has paused its sell-off and sought support for the time being.
In addition to political instability, the gold price is affected by the USD, while this currency is trending stronger when the US Federal Reserve has not yet given up on tightening measures at the end of the year. This will increase the opportunity cost of holding gold.
Investors also need to watch the latest data of the world's number one economy in the last days of this month and early July, because if the US GDP increases, it will support the Fed to tighten, so the price of gold will fall. .
In addition to political instability, the gold price is affected by the USD, while this currency is trending stronger when the US Federal Reserve has not yet given up on tightening measures at the end of the year. This will increase the opportunity cost of holding gold.
Investors also need to watch the latest data of the world's number one economy in the last days of this month and early July, because if the US GDP increases, it will support the Fed to tighten, so the price of gold will fall. .
Comment:
Match the plan, follow the strategy to reach the full target
✅Buy the $1,925-$1,927 range when the price hits the resistance area.
✖️Stoploss: $1,922.