Gold is on the rise again
On Tuesday, a slew of the US data allowed the US Dollar to pare intraday losses and bolstered economic optimism, which in turn allowed US President Joe Biden to rule out recession woes. The same recently underpinned the Gold Price rebound.
Notable among them were the Durable Goods Orders, Conference Board's (CB) Consumer Confidence Index and a few housing numbers. That said, US Durable Goods Orders marked a surprise growth of 1.7% for May versus -1.0% market forecasts and 1.2% prior (revised). Further, the US Conference Board's (CB) Consumer Confidence Index rose to 109.7 for June from 102.5 in May (revised from 102.3).
On the same line, US Housing Price Index rose to 0.7% in April from 0.5% previous readings (revised), versus 0.3% expected. Meanwhile, the S&P/Case-Shiller Home Price Index came in as -1.7% YoY for April, down from -1.1% prior but better than -2.6% market forecasts. Additionally, New Home Sales rose 12.2% MoM in May from 3.5% prior and 0.5% anticipated whereas the Richmond Fed Manufacturing Index improved to -7.0 in June compared to -15.0 prior and -10.0 expected.
XAUUSD BUY 1912 -1914 💯💯
✅ TP1: 1920
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1907
Notable among them were the Durable Goods Orders, Conference Board's (CB) Consumer Confidence Index and a few housing numbers. That said, US Durable Goods Orders marked a surprise growth of 1.7% for May versus -1.0% market forecasts and 1.2% prior (revised). Further, the US Conference Board's (CB) Consumer Confidence Index rose to 109.7 for June from 102.5 in May (revised from 102.3).
On the same line, US Housing Price Index rose to 0.7% in April from 0.5% previous readings (revised), versus 0.3% expected. Meanwhile, the S&P/Case-Shiller Home Price Index came in as -1.7% YoY for April, down from -1.1% prior but better than -2.6% market forecasts. Additionally, New Home Sales rose 12.2% MoM in May from 3.5% prior and 0.5% anticipated whereas the Richmond Fed Manufacturing Index improved to -7.0 in June compared to -15.0 prior and -10.0 expected.
XAUUSD BUY 1912 -1914 💯💯
✅ TP1: 1920
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1907
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