Gold prices bounced back today after weaker-than-expected US job report for July. The successful reversal from last week's drop below $1,926 is a positive signal, paving the way for higher levels this week.
US job market cooling down is what the Federal Reserve wants. The market believes interest rates have peaked, and the Fed's next move is to lower them. In this environment, gold will soar.
US job market cooling down is what the Federal Reserve wants. The market believes interest rates have peaked, and the Fed's next move is to lower them. In this environment, gold will soar.
Comment:
U.S. Treasury yields climbed on Monday as investors weighed the state of the economy and awaited key inflation data due later in the week.
Trade active:
Plan BUY Close 1/2 +30pips ✔️✔️✔️ Move SL to Entry
Trade active:
Plan BUY Running +60pips ✔️✔️✔️
Comment:
The central bank's gold demand reached a record high, indicating the significance of gold as a safe haven asset amidst global political tension and challenging economic conditions. Despite a slower growth rate in Q2, the central bank's trend of purchasing gold has controlled the gold market.
Comment:
🕯 SELL GOLD | 1950 - 1953
🔴 SL: 1958
🟢 TP1: 1942
🟢 TP2: 1932
🕯 BUY GOLD | 1923 - 1926
🔴 SL: 1918
🟢 TP1: 1933
🟢 TP2: 1940
🔴 SL: 1958
🟢 TP1: 1942
🟢 TP2: 1932
🕯 BUY GOLD | 1923 - 1926
🔴 SL: 1918
🟢 TP1: 1933
🟢 TP2: 1940
Trade active:
⭐️Plan to BUY Runnings + 40pips 💲💲💲
Trade active:
⭐️Plan to BUY Runnings + 70pips 💲💲💲
🔴 SL: 1929
🟢 TP1: 1945
🟢 TP2: 1950