Gold weaker in wake of upbeat U.S. data

Gold prices fell slightly in midday US trading on Tuesday, hitting a five-month low overnight. A better-than-expected US economic report today helped maintain pressure on the precious metals. However, gold and silver are trading up from daily lows. Finally, December gold fell $4.80 to $1,939.

Intraday US data points showed retail sales for July rose 0.7% from June, which was a surprise and well above market expectations of a 0.4% increase y/y. June and compared with the 0.2% gain in the June report. The report is hawks on US monetary policy and is the last key US data point ahead of the weekly symposium. year of the Federal Reserve next week in Jackson Hole, Wyoming.

Kommentera:

Gold continues to make downside progress after breaking below the rising support line from February. This has continued to mark a meaningful shift away from what was the dominant uptrend between the end of last year and up until early April. With that in mind, the technical landscape is appearing increasingly bearish.

Kommentera:

🕯 SELL GOLD | 1920 - 1917
🔴 SL: 1925

🟢 TP1: 1912
🟢 TP2: 1907

🕯 BUY GOLD | 1890 - 1893
🔴 SL: 1885

🟢 TP1: 1898
🟢 TP2: 1903

Handel aktiv:

Plan BUY Running + 30pips ✔️✔️✔️

Handel aktiv:

Close 1/2 + 65pips ✔️✔️✔️ Move SL to Entry 😮

Trade stängt: målet nått:

Plan BUY HIT TP1 + 80pips ✔️✔️✔️

Kommentera:

- Unemployment claims in America recorded 264 thousand new applications, compared to expectations of recording 260 thousand applications.

Kommentera:

- Goldman Sachs is planning a hiring joy to fix fading amid Fed sternness.