Short-term Gold trend, trading ahead of CPI news June 13
Updated
Gold prices edged lower on expectations the Fed will deliver a hawkish skip
The price of gold has generally trended upward along with the national debt. Of course, there are other factors that impact the price of gold, but the general trend is worth noting.
Wall Street will still likely anticipate that rates will remain elevated a while longer and that is keeping gold prices under pressure.
Gold is getting dangerously close to the $1950 support level and if that doesn’t hold, it could pave the way for gold downtrend.
XAUUSD SELL LIMIT 1965 - 1967 💯💯
✅𝖳𝖯1 1955
✅𝖳𝖯2 1948
✅TP3 1943
🛑𝖲𝖫 1975
The price of gold has generally trended upward along with the national debt. Of course, there are other factors that impact the price of gold, but the general trend is worth noting.
Wall Street will still likely anticipate that rates will remain elevated a while longer and that is keeping gold prices under pressure.
Gold is getting dangerously close to the $1950 support level and if that doesn’t hold, it could pave the way for gold downtrend.
XAUUSD SELL LIMIT 1965 - 1967 💯💯
✅𝖳𝖯1 1955
✅𝖳𝖯2 1948
✅TP3 1943
🛑𝖲𝖫 1975
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