The gold market continues to face a challenging economic environment as hawkish monetary policies worldwide continue to support rising bond yields. Gold is testing support at $1,900 after input from four central banks.
Analysts predict this support will be broken, potentially pushing gold down to around $1,860. Unfortunately, gold is not expected to return to $2,000 soon. However, experts advise keeping gold in your investment portfolio despite the price decline.
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This past week's economic data shows that the U.S. Gross Domestic Product rose 2% in the first quarter, significantly beating expectations. First-quarter growth came even as the U.S. banking sector saw its biggest failures since the 2008 Great Financial Crisis.
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⭐️Make a trading plan: ✅Buy order in the $1,910-$1,913 price zone when the support zone is approached. ✖️Stoploss: $1,905.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!
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🟢Strategy BUY Runnings + 110pips !!!
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The future of gold bears has short-term technical advantages. The price has been on a two-month downward trend on the daily bar chart. The next target for the bulls is to close above a strong resistance level at $2,000. The next short-term target for the bears is to push the futures contract price below a solid technical support level at the lowest point in February, which is $1,846. The first resistance level currently seen is $19.39, followed by $1,950. The first support level currently seen is $1,917, followed by $1,900.
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⭐️Make a trading plan: ✅Sell the $1,941-$1,938 range when the price hits the resistance area. ✖️Stoploss: $1,945.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!
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⭐️Make a trading plan: ✅Sell the $1,926-$1,923 range when the price hits the resistance area. ✖️Stoploss: $1,930.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!