In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month. You can read the previous articles of Gold to catch the next move.
This week gold may remain downside until it breaks the levels of 48520. It can be up to 47580 - 47200. But, once it crossover the 48520 levels, then it will become unstoppable again. And we will see 49000 - 49500+ levels soon.
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas:
Wednesday, Jul 21, 2021 02:00 API Weekly Crude Oil Stock - Medium Impact 20:00 Crude Oil Inventories - High Impact 20:00 Cushing Crude Oil Inventories - Medium Impact