On the world market, gold price traded on July 10 at 1,925.89 USD/ounce.
Analysts of the World Gold Council (WGC) said that, in the current context, there is little possibility of a devaluation or even a sharp increase thanks to rising unemployment data in the US. It is this that makes gold an important asset in the investment portfolio.
Besides, many analysts are optimistic about gold because they believe that gold has survived the recent macroeconomic instability fluctuations. At the moment, gold is just waiting for the US Federal Reserve (Fed) to cut interest rates to have a chance to increase prices.
In addition, recently, the US Department of Labor announced, the world's largest economy added 209,000 non-farm jobs in June, lower than the Dow Jones estimate of 240,000 and down from 339,000. done in May. On that basis, precious metal experts have said that from now until the end of the year, the Fed will have softer decisions in interest rate management.
From a technical perspective, gold can only break its downtrend when it rises above $1,943 an ounce. Conversely, if the gold price remains below $1,943 per ounce, it may plummet to $1,891 per ounce, or even plummet to $1,830 per ounce.
XAUUSD SELL 1925 - 1927💯💯
✅ TP1: 1923
✅ TP2: 1918
✅ TP3: 1912
🛑 SL: 1935
Analysts of the World Gold Council (WGC) said that, in the current context, there is little possibility of a devaluation or even a sharp increase thanks to rising unemployment data in the US. It is this that makes gold an important asset in the investment portfolio.
Besides, many analysts are optimistic about gold because they believe that gold has survived the recent macroeconomic instability fluctuations. At the moment, gold is just waiting for the US Federal Reserve (Fed) to cut interest rates to have a chance to increase prices.
In addition, recently, the US Department of Labor announced, the world's largest economy added 209,000 non-farm jobs in June, lower than the Dow Jones estimate of 240,000 and down from 339,000. done in May. On that basis, precious metal experts have said that from now until the end of the year, the Fed will have softer decisions in interest rate management.
From a technical perspective, gold can only break its downtrend when it rises above $1,943 an ounce. Conversely, if the gold price remains below $1,943 per ounce, it may plummet to $1,891 per ounce, or even plummet to $1,830 per ounce.
XAUUSD SELL 1925 - 1927💯💯
✅ TP1: 1923
✅ TP2: 1918
✅ TP3: 1912
🛑 SL: 1935
