Gold - Maintains Difficulty Above $1900.
According to the latest jobs data, inconsistent results may not reassure the market. However, the upbeat numbers from the PMI show that the economy is expanding.
As the results show positive for the economy, the market fears Jerome Powell's statement may soon become a reality.
The outlook for gold has not been better, largely due to policy pressures and the strength of the economy.
Expectations of further Fed rate hikes sent two-year US bond yields to close above 5% and hit a 15-year high in the session, putting pressure on non-yielding assets.
Set up: BUY GOLD zone: $1919 - $1917 - SL 1910
SELL GOLD zone: $1930 - $1933 - SL 1938
As the results show positive for the economy, the market fears Jerome Powell's statement may soon become a reality.
The outlook for gold has not been better, largely due to policy pressures and the strength of the economy.
Expectations of further Fed rate hikes sent two-year US bond yields to close above 5% and hit a 15-year high in the session, putting pressure on non-yielding assets.
Set up: BUY GOLD zone: $1919 - $1917 - SL 1910
SELL GOLD zone: $1930 - $1933 - SL 1938
Trade active
Gold + 80pipsNote
Waiting for break out 1926$. Taget 1940$ 1950$
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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.