Gold Spot / U.S. DollarUpdated XAUUSD : Gold returns to create upward momentum
World gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election.
Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce.
Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce.
Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
Note
🔝 XAUUSD BUY 2399 - 2401 🪙🪙🪙✔️ TP : 2410
✔️ TP2 : 2415
❌ SL 2395
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Related publications
Disclaimer
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.