Strategy to sell XAU when price increases
Updated
The focus now turns to nonfarm payrolls released on Friday (US time), which will be important in assessing whether the US labor market remains resilient amid multi-year high interest rates. decade or not.
Gold prices are down 5% from a record high of $2,449.89 an ounce reached on May 20, a rally driven by safe-haven demand fueled by geopolitical and economic uncertainty. economy as well as the ongoing purchasing activities of central banks, an important demand group.
“Physical demand remains weak in major markets such as India and Türkiye but there are signs of recovery there as consumers want to protect themselves against other factors such as Local inflation remains high."
Gold prices are down 5% from a record high of $2,449.89 an ounce reached on May 20, a rally driven by safe-haven demand fueled by geopolitical and economic uncertainty. economy as well as the ongoing purchasing activities of central banks, an important demand group.
“Physical demand remains weak in major markets such as India and Türkiye but there are signs of recovery there as consumers want to protect themselves against other factors such as Local inflation remains high."
Note
SELL XAU 2356 - 58 TP1: 2347
TP2: 2340
SL: 2368
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