Gold 03/07: Gold opens new month
Updated
GOLD Data released from the US on Friday showed the PCE Index decelerated to 3.8% in May from 4.3% previously. Additionally, the Core PCE Price Index fell to 4.6% from 4.7% in April.Aggressive major central banks also weaken XAU/USD.
The more hawkish outlook of major central banks seems to further undermine demand for safe-haven gold and contribute to Monday's modest intraday declines.
A break above the immediate hurdle of $1922 is likely to face stiff resistance near the $1936 horizontal zone.
The strategy for the beginning of the week is that I will watch a lot of
GOLD SELL around the $1920 area.Trade active
Everything is going according to my plan
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