Gold Prices recovered a little on Thursday following three days of falls this week, but the market remains beset by relentless rises in high-quality bond yields, notably in the United States but also elsewhere, as markets move to price in higher interest rates for longer.
The previous session saw the release of minutes from the US Federal Reserve’s July monetary policy meeting at which ‘most participants’ reportedly still saw considerable upside risks to inflation, of the order which may warrant more interest rate hikes.
The previous session saw the release of minutes from the US Federal Reserve’s July monetary policy meeting at which ‘most participants’ reportedly still saw considerable upside risks to inflation, of the order which may warrant more interest rate hikes.
Note
If there is no strong bounce above $1,905 this week, confidence that a downtrend in gold has been established will increase. In this case, the $1,800 - $1,810 range is a potential technical target. This has been a difficult range for gold to cross over the past 3 years.Note
🕯 SELL GOLD | 1900 - 1897🔴 SL: 1905
🟢 TP1: 1892
🟢 TP2: 1887
Trade active
Running + 30pips ✔️✔️✔️Trade closed: target reached
Close Full Hit TP2 + 110pips 😮Note
- Traders reduce short positions to the lowest level since June 2022 for the S&P 500 index.Note
- US asks China to be more transparent on economic data amid slowdown - Financial Times.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.