💵GOLD PRICE AND ECONOMIC INFORMATION
Gold fell to around $2,310 per ounce on Wednesday, extending its decline from the previous session, as investors digest more hawkish remarks from Federal Reserve officials about the outlook for interest rate cuts. Fed Governor Lisa Cook stated on Tuesday that a rate cut will be appropriate at some point, but the timing is uncertain, while Fed Governor Bowman mentioned that she doesn't anticipate any rate cuts this year. This came on top of strong US business activity data last week, reaching a 26-month high in June, adding further to the hawkish pressure. Meanwhile, investors are looking forward to Friday’s core PCE index data, the Fed’s preferred inflation measure, particularly after the recent cooling of CPI and PPI data, alongside the third estimate for Q1 GDP growth and consumer spending and income.
🔴SELL GOLD: 2334 - 2336, SL: 2340
🟢BUY GOLD: 2302- 2300, SL: 2296
🟢BUY GOLD: 2294- 2292, SL: 2288
⛔️Breakout: top border 2324 - 2335 - below 2311 - 2305
🔼Support: 2311- 2306 - 2300 - 2295 - 2290
🔽Resistance: 2337- 2341 - 2345 - 2349 - 2354
GOOD LUCK EVERYONE👍
Gold fell to around $2,310 per ounce on Wednesday, extending its decline from the previous session, as investors digest more hawkish remarks from Federal Reserve officials about the outlook for interest rate cuts. Fed Governor Lisa Cook stated on Tuesday that a rate cut will be appropriate at some point, but the timing is uncertain, while Fed Governor Bowman mentioned that she doesn't anticipate any rate cuts this year. This came on top of strong US business activity data last week, reaching a 26-month high in June, adding further to the hawkish pressure. Meanwhile, investors are looking forward to Friday’s core PCE index data, the Fed’s preferred inflation measure, particularly after the recent cooling of CPI and PPI data, alongside the third estimate for Q1 GDP growth and consumer spending and income.
🔴SELL GOLD: 2334 - 2336, SL: 2340
🟢BUY GOLD: 2302- 2300, SL: 2296
🟢BUY GOLD: 2294- 2292, SL: 2288
⛔️Breakout: top border 2324 - 2335 - below 2311 - 2305
🔼Support: 2311- 2306 - 2300 - 2295 - 2290
🔽Resistance: 2337- 2341 - 2345 - 2349 - 2354
GOOD LUCK EVERYONE👍
Note
It's great, gold has reached the 92 - 94 support zone and I have 110 Pips
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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.
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.