Gold Spot / U.S. DollarUpdated XAUUSD : Gold will return to its old peak within the week
World gold is fluctuating around 2,395 USD/oz. The world gold market will likely be more exciting this week after escaping the gloom for a long time. The price of this precious metal is expected to be affected by Fed Chairman Jerome Powell's statement at his testimony before Congress, growth data for June, weekly unemployment claims, index reports US producer prices and preliminary survey results on consumer sentiment by the University of Michigan.
Currently, optimism is covering the gold market, as recent data shows cracks in the US economy, the US labor market is increasingly weakening and inflation is decreasing. All the data reinforces the possibility that the Fed will soon introduce monetary policy easing and lower interest rates, which should support the price of the precious metal gold.
Currently, optimism is covering the gold market, as recent data shows cracks in the US economy, the US labor market is increasingly weakening and inflation is decreasing. All the data reinforces the possibility that the Fed will soon introduce monetary policy easing and lower interest rates, which should support the price of the precious metal gold.
Trade active
🔝 1. XAUUSD BUY 2383 - 2385 🪙🪙🪙✔️ TP 2390
✔️ TP2 2395
❌ SL 2375
🔝 2. XAUUSD BUY Limit 2377 - 2379 🪙🪙🪙
✔️ TP : 2385
✔️ TP2 : 2390
❌ SL 2370
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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.