To get back to Gold, we need a decline, entry sell today
Updated
Gold futures price for delivery in April 2024 on the Comex New York floor decreased by 6 USD, equivalent to a decrease of 0.28%, to 2,161.5 USD/ounce.
Information from central banks will take center stage this week, with interest rate decisions due from the Bank of Japan and Reserve Bank of Australia on Monday, the US Federal Reserve on Wednesday, Bank of England and Swiss National Bank on Thursday.
Markets will also pay attention to housing starts and building permits in the United States on Tuesday, as well as weekly jobless claims, the Philly Fed manufacturing survey, Flash PMI and existing home sales on Thursday.
Given the pace of the breakout and the slowdown at $2200, it looks like gold needs a pullback, and with the Fed on Wednesday, it's reasonable to see some profit-taking beforehand. There are probably a lot of investors who have put in money late and want to take some profits now that the breakout has started to falter, especially with a major mover on the horizon.
Information from central banks will take center stage this week, with interest rate decisions due from the Bank of Japan and Reserve Bank of Australia on Monday, the US Federal Reserve on Wednesday, Bank of England and Swiss National Bank on Thursday.
Markets will also pay attention to housing starts and building permits in the United States on Tuesday, as well as weekly jobless claims, the Philly Fed manufacturing survey, Flash PMI and existing home sales on Thursday.
Given the pace of the breakout and the slowdown at $2200, it looks like gold needs a pullback, and with the Fed on Wednesday, it's reasonable to see some profit-taking beforehand. There are probably a lot of investors who have put in money late and want to take some profits now that the breakout has started to falter, especially with a major mover on the horizon.
Note
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✔️TP 2140
❌SL 2164
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