GOLD Market declines, sell signal on July 5
Updated
On the world gold market, spot gold price closed yesterday in the US up 4 USD to 1,925.7 USD/ounce. In the Asian session this morning, the gold price corrected to a level of 1,924 USD/ounce.
The price of gold futures for delivery in August 2023 on the Comex New York exchange increased 0.1 USD, or 0.01%, to 1,929.5 USD/ounce.
Gold is holding onto modest gains in quiet Tuesday trade as US markets are closed for the Independence Day holiday.
Although gold prices are still in a downtrend, some analysts are expecting gold and silver to test short-term Resistance resistances after remaining support at $1,900 an ounce last week.
Analysts note that rising bond yields, as 10-year yields were boosted by nearly 4% on Monday, could hold back gold and silver prices this week.
In the current downtrend, he wouldn't be surprised to see gold price testing mid-to-high support at $1,700 an ounce, which could signal a market low.
XAUUSD SELL 1928-1930 💯💯
✅ TP1: 1922
✅ TP2: 1915
✅ TP3: 1908
🛑 SL: 1938
The price of gold futures for delivery in August 2023 on the Comex New York exchange increased 0.1 USD, or 0.01%, to 1,929.5 USD/ounce.
Gold is holding onto modest gains in quiet Tuesday trade as US markets are closed for the Independence Day holiday.
Although gold prices are still in a downtrend, some analysts are expecting gold and silver to test short-term Resistance resistances after remaining support at $1,900 an ounce last week.
Analysts note that rising bond yields, as 10-year yields were boosted by nearly 4% on Monday, could hold back gold and silver prices this week.
In the current downtrend, he wouldn't be surprised to see gold price testing mid-to-high support at $1,700 an ounce, which could signal a market low.
XAUUSD SELL 1928-1930 💯💯
✅ TP1: 1922
✅ TP2: 1915
✅ TP3: 1908
🛑 SL: 1938
Note
Running +30Pips ✅Note
Running +60Pips ✅Note
+ 110Pips ✅Note
Hit TP2 +150Pips✅
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