Gold ready to make some ranging
In the last two analysis of GOLD the market followed perfectly what we told you before in the beginning of the last month. After the FED meeting and cloudly information that Powell gave about the next cuts the market will be a little bit confused.
We think the market will reach levels of 1390-1387 and after that, there will be a full month of ranging. In September we think the market will take direction according to ECB decision and FED reacting. Also, keep in mind that if n September there won't be any solution to the world economic war we will see GOLD raising in higher levels above 1452. This is supported by the rate cuts that different central banks are approaching and the economic war which makes everything slow down and raises the doubts about the World Economic Growth.
In the other hand, If USA and China and Europe take a rest on blaming each other then we will probably see GOLD reaching 1350 or less.
We think the market will reach levels of 1390-1387 and after that, there will be a full month of ranging. In September we think the market will take direction according to ECB decision and FED reacting. Also, keep in mind that if n September there won't be any solution to the world economic war we will see GOLD raising in higher levels above 1452. This is supported by the rate cuts that different central banks are approaching and the economic war which makes everything slow down and raises the doubts about the World Economic Growth.
In the other hand, If USA and China and Europe take a rest on blaming each other then we will probably see GOLD reaching 1350 or less.
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