GOLD SHORT TO 1878ð
We are still short on Gold for just a little bit longer. However, we can see that Gold is struggling with its bearish momentum. Wouldn't surprise me to see a liquidity grab to the upside. But overall, we are still BEARISH.
On 14th June, we have the Federal Reserve announcing the next interest rate decision. They are expected to hike rates again by 25BPS which is negative for Gold. What we might possibly see beforehand is institutional investments pushing Gold back up towards the $2,000+ region, so they can sell it off from a higher price.
On 14th June, we have the Federal Reserve announcing the next interest rate decision. They are expected to hike rates again by 25BPS which is negative for Gold. What we might possibly see beforehand is institutional investments pushing Gold back up towards the $2,000+ region, so they can sell it off from a higher price.