Gold 03/07: Gold opens new month
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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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.