Gold price today: Under the pressure of USD, gold price continue

Mars_Hunter Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
The world gold price today listed at 1,917 USD/ounce, down 10 USD/ounce compared to the early hours of the morning.

The world gold price continued to decline today as the dollar soared after China released many disappointing economic data.

Besides, the US economy is making strong recovery steps. The growth rate of 2.4% in the second quarter of 2023 exceeded expectations. Inflation has fallen to 3%. Consumer sentiment is improving.

Although USD rebounded on positive signals from the US economy, this currency in the medium and long term is in a downtrend. The Fed will soon reverse monetary policy, from tightening to easing, thereby putting pressure on the USD. A fall in the USD price will pull the gold price up.

Trading plan:

SELL XAUUSD price range: 1913 - 1915

Stoploss : 1920

Take Profit : 1910
Take Profit : 1905
Take Profit : 1900

Note : TP, SL full to be safe and win the market !
keep waiting for gold to hit the entry
Do you think gold will hit our entry today
Order cancelled:
gold went according to analysis unfortunately we missed 10 pips for entry

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.