XAUUSD - Trading is gloomy, there is no upward force

World gold price stood at $1,927, slightly down $4 compared to the same hour last morning. Precious metals have not been able to rebound and even continue to fall in today's session due to the surrounding pressure.

A surge in the dollar after China released disappointing economic data was one of the reasons for the drop in gold prices.

Kommentera:

The Federal Reserve governor, Bowman, believes that the Fed needs to increase interest rates to bring inflation below the target of 2%. Gold prices have been negatively affected by recent increasing tensions between Russia and the UK, as well as the continued rise of the DXY index. Recent economic data from the US has impacted the future expected interest rates of the Fed. A weaker USD may lead to a gold price recovery, but it would require a catalyst such as the important CPI index happening tomorrow evening.

Kommentera:

🐾 SELL XAUUSD zone 1937 - 1939

⚠️ Stop Loss : 1943

💲 Take Profit 1: 1932
💲 Take Profit 2: 1927
💲 Take Profit 3: 1920

Kommentera:

Stocks rose Thursday after a key inflation reading showed slightly less year-over-year inflation growth than expected.
🟢The Dow Jones Industrial Average advanced 337 points, or 1%.
🟢The S&P 500 climbed 0.9%, and the Nasdaq Composite rose 1.1%.

Kommentera:

Technically, gold price failed to sustain in its sideways range at $1,930 - $1,950 and turned down.