Strategy to sell XAU when gold falls
Updated
Last week was also the third consecutive week of decline in gold prices.
This week the market is interested in some notable information such as the consumer price index (CPI) in May, announcements on monetary policy of the US Federal Reserve (Fed), and data on unemployment benefits. American industry and the monetary policy of the Bank of Japan.
said gold prices may decrease in the coming days.
US jobs were better than expected and China stopped buying gold reserves, causing the precious metal to fall to its lowest level in a month.
After leaving the 2,300 USD mark, spot gold price dropped to nearly 2,277 USD. If below the 2,270 USD mark, the gold price could even reach 2,220 USD/ounce.
This week the market is interested in some notable information such as the consumer price index (CPI) in May, announcements on monetary policy of the US Federal Reserve (Fed), and data on unemployment benefits. American industry and the monetary policy of the Bank of Japan.
said gold prices may decrease in the coming days.
US jobs were better than expected and China stopped buying gold reserves, causing the precious metal to fall to its lowest level in a month.
After leaving the 2,300 USD mark, spot gold price dropped to nearly 2,277 USD. If below the 2,270 USD mark, the gold price could even reach 2,220 USD/ounce.
Note
SELL XAU 2230 TP1: 2295
TP2: 2290
SL: 2237
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