XAU sell strategy on February 7
World gold prices on February 7 reversed to increase slightly with spot gold increasing by 10.5 USD to 2,035.4 USD/ounce. Gold futures last traded at 2,052.4 USD/ounce, up 9.5 USD compared to yesterday morning.
World gold reversed slightly when boosted by the weakening of the USD and falling Treasury bond yields. The 0.3% drop in the US Dollar Index increased gold's appeal to buyers holding other currencies. At the same time, the decline in benchmark US 10-year Treasury yields also reduces the opportunity cost of holding gold in interest rates.
World gold reversed slightly when boosted by the weakening of the USD and falling Treasury bond yields. The 0.3% drop in the US Dollar Index increased gold's appeal to buyers holding other currencies. At the same time, the decline in benchmark US 10-year Treasury yields also reduces the opportunity cost of holding gold in interest rates.
Note
SELL XAU 2040TP1: 2030
TP2: 2020
SL: 2051
Note
running + 60 pipsNote
close + 80 pipsNote
running + 150 pips
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.
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.