Gold news today 01.08
Updated
The Fed will end its rate hike cycle later this year, which is expected to spur massive inflows into the yellow metal. A recovery in the dollar spurred some losses in gold on Tuesday, as data showed that U.S. credit conditions were tightening amid high interest rates.
On the chart we can see, When the price line breaks out of the 1969 price zone, it will go straight to the 1981-1983 support zone. we can set up a sell order here.
On the chart we can see, When the price line breaks out of the 1969 price zone, it will go straight to the 1981-1983 support zone. we can set up a sell order here.
Note
Gold suddenly dropped deeply to the resistance zone 1945
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