Hi Everyone,
Looks like Gold is definitely struggling against the dollar due to risk aversion and higher rates for longer causing US Yields to sky rocket, specifically 3 month/6month/2 year.
I expect for gold to bounce today/tomorrow with the rest of the week being highly uncertain, as I am not sure how market will react to North Korea and Russia summit plus CPI numbers.
Looks like Gold is definitely struggling against the dollar due to risk aversion and higher rates for longer causing US Yields to sky rocket, specifically 3 month/6month/2 year.
I expect for gold to bounce today/tomorrow with the rest of the week being highly uncertain, as I am not sure how market will react to North Korea and Russia summit plus CPI numbers.
Kommentera:
Gold is holding the last bastion support, should CPI come out hotter than expected I will be expecting Gold to flush down do 1900 or potentially lower. Big buy zone at 1880s
Kommentera:
The gold price is holding on the last bastion support, markets are nervous and stagflation is pretty much confirmed.
I expect for Gold to trade sideways, potentially slightly bearish, but best to wait until daily candle closes.
I expect for Gold to trade sideways, potentially slightly bearish, but best to wait until daily candle closes.
Kommentera:
Looks like a beautiful fakeout, and gold is going up, with stagflation as a big scenario expect gold to rise next week!