GOLD 30/6 $$ Gold price continues to be limited, difficult
The USD is being supported by higher US bond yields, which is limiting the upside potential of XAU/USD.
Meanwhile, Fed Chair Jerome Powell has restated that the Fed is likely to raise interest rates twice this year and does not expect inflation to reach the target of 2% until 2025. These statements, combined with positive US macro data released on Thursday, have reinforced expectations for a 25bps rate hike at the upcoming FOMC policy meeting on July 25-26. As a result, US Treasury bond yields have remained high and the USD bulls are benefiting. This suggests that the Gold price is more likely to decrease than increase.
Gold price prediction at the end of June has not yet prospered, it can be kept at $1900 1 for a short time
BUY GOLD zone at: $1895 - $1898 sl $1888
Based on technical indicators EMA 34, EMA 89 and US political economic news, buy BUY gold as the plan above
Meanwhile, Fed Chair Jerome Powell has restated that the Fed is likely to raise interest rates twice this year and does not expect inflation to reach the target of 2% until 2025. These statements, combined with positive US macro data released on Thursday, have reinforced expectations for a 25bps rate hike at the upcoming FOMC policy meeting on July 25-26. As a result, US Treasury bond yields have remained high and the USD bulls are benefiting. This suggests that the Gold price is more likely to decrease than increase.
Gold price prediction at the end of June has not yet prospered, it can be kept at $1900 1 for a short time
BUY GOLD zone at: $1895 - $1898 sl $1888
Based on technical indicators EMA 34, EMA 89 and US political economic news, buy BUY gold as the plan above
Comment:
price is still moving sideways around $1910
