Gold recovers but remains low
Updated
⚡️Due to higher US bond yields, gold prices held steady near 5-month lows. Markets prepare for the Fed's Jackson Hole symposium for more directional hints on future interest rate cases.
⚡️In recent times, macro data and comments from Fed officials are supporting the possibility that US interest rates will likely continue to rise and stay high for a long time as inflation remains high.
⚡️This will create conditions for the Dollar to continue to dominate the entire market, causing pressure on gold, silver, etc. and other major currencies to correlate.
⚡️Traders will be eyeing the Jackson Hole symposium this weekend, which brings together economic policymakers from around the world. This event is notable and is expected to create strong swings in the market because it can help clarify the monetary policy direction of major central banks, providing more direction to the market. foreign exchange and help determine the direction of gold prices in the short and medium term.
⚡️In recent times, macro data and comments from Fed officials are supporting the possibility that US interest rates will likely continue to rise and stay high for a long time as inflation remains high.
⚡️This will create conditions for the Dollar to continue to dominate the entire market, causing pressure on gold, silver, etc. and other major currencies to correlate.
⚡️Traders will be eyeing the Jackson Hole symposium this weekend, which brings together economic policymakers from around the world. This event is notable and is expected to create strong swings in the market because it can help clarify the monetary policy direction of major central banks, providing more direction to the market. foreign exchange and help determine the direction of gold prices in the short and medium term.
Note
⚡️You can set SELL around 1901-1903, SL 1910, TP 1895, 1890. Wish you successful trading.Note
Gold prices kicked off the week in a positive mood, just below the $1900 mark per troy ounce. The uptick, however, was amidst a small drop in open interest and removes some strength from further recovery in the very near term. That said, the commodity might enter a consolidative phase around current levels for the time being.Note
Gold is following my analysis. Do you think gold will find our entryNote
Just like my analysis, gold has reached the peak of 1902. expect gold to have a slight recovery to find the resistance zone of 1906.Trade closed: target reached
Hit TP +140 pips. congratulationNote
The other day Mars won the market, follow me for the next win signalNote
according to my analysis. Gold hit the nearest resistance area and fell slightly. To see if gold can break the downtrend or continue the deep downtrend, please pay attention to follow Mars' strategyNote
gold today has surged to break 1920. We are waiting to see a bounce from the market.Note
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