Gold prices fall from Monday's high, as traders take profits after two weeks of gains
Metal prices have rallied over the past two weeks as the dollar fell to a 15-month low, tracking a string of indicators that use the US factor. The weak data also ended the growing success that the Federal Reserve is nearing the end of its rate-raising cycle for the year.
However, gold's rally was also somewhat limited by signs of recovery in the US economy, which in turn affected safe-haven demand for the yellow metal. Prices have largely stalled after hitting $1,960 an ounce last week.
XAUUSD BUY LIMIT 1953 - 1950 💯💯
✅ TP1: 1960
✅ TP2: 1965
✅ TP2: 1970
🛑 SL: 1945
Metal prices have rallied over the past two weeks as the dollar fell to a 15-month low, tracking a string of indicators that use the US factor. The weak data also ended the growing success that the Federal Reserve is nearing the end of its rate-raising cycle for the year.
However, gold's rally was also somewhat limited by signs of recovery in the US economy, which in turn affected safe-haven demand for the yellow metal. Prices have largely stalled after hitting $1,960 an ounce last week.
XAUUSD BUY LIMIT 1953 - 1950 💯💯
✅ TP1: 1960
✅ TP2: 1965
✅ TP2: 1970
🛑 SL: 1945
Comment:
Hit TP1 + 60 Pips ✅✅✅
