GOLD 19/6!!! Starting a new week with stable pricesThe uncertainty surrounding the Federal Reserve's plans to increase interest rates is considered a significant factor supporting the price of gold, which does not provide any yield.
However, a substantial increase in value still appears to be difficult to achieve.
The recent underwhelming macroeconomic data from the United States has raised doubts about how much room the Federal Reserve has to continue raising rates, leading to speculation that the current phase of tightening monetary policy may be coming to an end.
Nevertheless, the Federal Reserve has indicated earlier this week that borrowing costs may still need to increase by as much as 50 basis points by the end of the year.
This, combined with a slight increase in US Treasury bond yields, has helped the US dollar recover modestly from a one-month low reached earlier this Friday. The moderate strength of the US dollar may discourage traders from making bullish bets on gold, which is priced in US dollars.
The above basic information helps gold price this week June 19 continue to sideway $1983 - $1940
Today, Can buy price GOLD range $1943 - $1940
According to technical analysis, the hard support at the $1943 price zone is difficult to penetrate. Nice entry point to enter long.
And of course, we expect a nice Sell from the 1964$ price range today
