Uptrend is not over, looking for buying opportunities
Gold prices traded within the borders of the 5/7 version as investors waited for the minutes of the new monetary policy meeting of the US Federal Reserve (Fed), to be released later in the day local time. method method. A stronger dollar also puts pressure on gold prices.
On the afternoon of July 5, spot gold price was unchanged at $1,925.44 per ounce, while US gold futures rose 0.2 percent to $1,932.60 per ounce.
The dollar index rose 0.2 percent, making gold less attractive to foreign buyers.
Clifford Bennett, president of economics at ACY Securities, said the Fed minutes would likely show an emerging debate about jobs leading to more rate hikes.
This may cause gold to drop in the short term, but those looking for safety in the medium to long term will buy gold on any downside.
High yields make investors afraid of non-yielding assets such as gold, which is only found in times of economic uncertainty.
XAUUSD SELL LIMIT 1926 - 1928💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1936
On the afternoon of July 5, spot gold price was unchanged at $1,925.44 per ounce, while US gold futures rose 0.2 percent to $1,932.60 per ounce.
The dollar index rose 0.2 percent, making gold less attractive to foreign buyers.
Clifford Bennett, president of economics at ACY Securities, said the Fed minutes would likely show an emerging debate about jobs leading to more rate hikes.
This may cause gold to drop in the short term, but those looking for safety in the medium to long term will buy gold on any downside.
High yields make investors afraid of non-yielding assets such as gold, which is only found in times of economic uncertainty.
XAUUSD SELL LIMIT 1926 - 1928💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1936
Note
Hit TP3 + 170PIps✅
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Related publications
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.