Starting the new week, gold up or down ?
Updated
Gold prices weakened after reaching a 2-month high due to concerns over the US Federal Reserve's high interest rates. Despite the prevailing optimism in the market, analysts advise investors to hold off until the Fed announces its interest rate decision later this week.
Optimism still surrounds gold as the Fed struggles to control inflationary pressures in the face of supply issues dominating the commodity market. However, in the short term, gold may continue to face pressure.
Optimism still surrounds gold as the Fed struggles to control inflationary pressures in the face of supply issues dominating the commodity market. However, in the short term, gold may continue to face pressure.
Note
🐾 SELL XAUUSD zone 1968 - 1971⚠ Stop Loss : 1975
💲 Take Profit 1: 1960
💲 Take Profit 2: 1955
💲 Take Profit 2: 1950
Order cancelled
Missing 2 pips. I'm a joke :))Note
According to the report, central banks' gold purchases slowed down due to weak ETF demand. From April to June, central banks purchased 102.9 tons of gold, a 39% decrease compared to the unprecedented demand reported in Q2 2022.Note
🐾 SELL XAUUSD zone 1985 - 1987⚠️ Stop Loss : 1990
💲 Take Profit 1: 1980
💲 Take Profit 2: 1975
💲 Take Profit 3: 1965
🐾 BUY XAUUSD zone 1941 - 1939
⚠️ Stop Loss : 1934
💲 Take Profit 1: 1945
💲 Take Profit 2: 1950
💲 Take Profit 3: 1960
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