GOLD price received an offer to refresh the intraday low near $1959 as it reversed the early week gains amid a sluggish Asian session on Tuesday. That said, a light calendar joins the absence of Federal Reserve (Fed) policymakers' speeches due to a pre-FOMC shutdown period to limit late catalysts. .Even so, challenges to risk appetite from hawkish central bank concerns and renewed concerns suggest that big US banks need to hold more capital to weather the crisis. Landing seems to weigh heavily on sentiment and prices
GOLD recently.In addition, renewed concerns about US-China tensions, driven by concerns about Taiwan, coupled with escalating geopolitical tensions between Russia and Ukraine add to the risk-on sentiment, even as the pessimists are not too strong.
Even so, gold is expected to break through the June 6 high at $1970 indicating a positive long-term trend.
To confirm the uptrend, gold will return to the new support zone 1952 to test, maybe I will consider buying gold around 1952.
Trade active
price is running side way todayTrade closed: target reached
hit TP 1 + 50 pips for everyone
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.