XAUUSD - Strategy Sell gold on 7/11, still trending down
The world gold price was almost stationary with spot gold down 0.9 USD to 1,925.1 USD/ounce. Gold futures in August traded at the end of the period at 1,931.5 USD / ounce, down 1.5 USD compared to the previous morning.
The world gold market started the week quite quietly when the price fluctuated with a mechanical margin. However, this week is forecast to be a busy week with many important economic reports to be released, including June usage data. The consumer price index is expected to increase 5% compared to the previous week. same period five yards, compared with an increase of 5.3% in the May report. Producer price index will be released on Thursday morning (US time).
According to one market analyst, although gold prices are likely to fall and retest support below $1,900 an ounce early in the second half of the year, investors should not give up on gold.
While investors are currently pursuing different assets as Recession concerns dent the Fed's aggressive monetary policies, Shields noted that this will end soon, and market turmoil will pull investors back into safe-haven assets like precious metals.
The world gold market started the week quite quietly when the price fluctuated with a mechanical margin. However, this week is forecast to be a busy week with many important economic reports to be released, including June usage data. The consumer price index is expected to increase 5% compared to the previous week. same period five yards, compared with an increase of 5.3% in the May report. Producer price index will be released on Thursday morning (US time).
According to one market analyst, although gold prices are likely to fall and retest support below $1,900 an ounce early in the second half of the year, investors should not give up on gold.
While investors are currently pursuing different assets as Recession concerns dent the Fed's aggressive monetary policies, Shields noted that this will end soon, and market turmoil will pull investors back into safe-haven assets like precious metals.
✅ TP1: 1923
✅ TP2: 1918
✅ TP3: 1912
🛑 SL: 1937