GOLD - Find momentum when ISM data is disappointing

2 มิ.ย. 2023

Gold prices rose more than 0.7% on Thursday, bringing the total gain this week so far to around 1.6. This is considered the best week for the yellow metal since early April. A closer look shows that XAU/USD has rallied while the US Dollar and Treasury yields are weakening, which underlines Gold's anti-fiat properties.

Currently Gold is being supported and recovered from the bottom of 1932USD. The price line has stabilized and is trading above the 2 EMAs, showing a short-term uptrend. So the main strategy today is to watch low and buy up. Wait for gold to test the confluence of EMA + Keylevel H1 + fibo zone 0.5 around 1968 to enter an order.