GOLD (July 6) Fall as FOMC minutes show Fed still looking raise
Gold prices is seeing some modest selling pressure, giving up resistance at $1,930 an ounce after the Federal Reserve continues to signal that it will continue to raise interest rates even after pausing last month, according to the minutes from the June monetary policy meeting.
The minutes shows that almost all committee members “judged that additional increases in the target federal funds rate during 2023 would be appropriate.” Although gold prices have seen increased selling pressure in rection to the hawkish minutes, the selloff has been subdued. August gold futures last traded at $1,923 an ounce, down 0.3% on the day.
The minutes shows that almost all committee members “judged that additional increases in the target federal funds rate during 2023 would be appropriate.” Although gold prices have seen increased selling pressure in rection to the hawkish minutes, the selloff has been subdued. August gold futures last traded at $1,923 an ounce, down 0.3% on the day.
Trade closed: target reached:
🟢Signal of successful operation !!!
✅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 !!!