ForexGlobal

Challenges faced by GOLD

Long
ForexGlobal Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Gold hits 3-month low on outsized BoE hike, Fed threat for more

The “central bank-a-palooza saw larger-than-expected tightening across several European central banks,” said Ed Moya, analyst at online trading platform OANDA. “The global growth outlook is getting slashed and that could trigger a safe-haven move back into the dollar and not necessarily gold.”

Fed Chair Jay Powell, testifying before the Senate on Thursday, reinforced expectations that the U.S. central bank will hike rates at least twice more this year.

These things make gold overbought , gold has now touched the 1915-1910 price range . It is likely that Gold will return to the resistance zone

XAUUSD BUY 1913 - 1910 💯💯

✅ TP1: 1916
✅ TP2: 1920
✅ TP3: 1925

🛑 SL: 1907
Comment:
Hawkish central bank rhetoric and improving risk sentiment weigh on gold.
Comment:
Due to speak at the Summit for a New Global Financing Pact, in Paris;
Trade active:
Please wait patiently for the brothers
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