Gold Price Fundamentals Overview
From a fundamental perspective, the yellow metal is trading at the back of a relatively busy period in the US market. On Thursday, the US initial jobless claims outperformed the expected claim count of 245k with a tally of 228k. The continuing claims for the preceding period missed the forecasted tally of 1.729 million with a tally of 1.754 million, while the Philadelphia Fed Manufacturing Survey for July fell short of the expected reading of -10 with a reading of -13.5.
On Wednesday, the US building permits for June missed the expected tally of 1.49 million with a tally of 1.44 million. Housing starts for the period also fell short of the forecasted tally of 1.48 million with 1.434 million. Earlier in the week, US retail sales for June missed the expectation of 0.5% with a change of 0.2% (MoM). On the other hand, the retail sales control group for the month beat the expected change of -0.3% with a change of 0.6%, while the retail sales ex-autos missed 0.3% with a change of 0.2%.
GOLD
XAUUSD BUY 1957 - 1959💯💯
✅ TP1: 1965
✅ TP2: 1970
✅ TP3: 1975
🛑 SL: 1952
From a fundamental perspective, the yellow metal is trading at the back of a relatively busy period in the US market. On Thursday, the US initial jobless claims outperformed the expected claim count of 245k with a tally of 228k. The continuing claims for the preceding period missed the forecasted tally of 1.729 million with a tally of 1.754 million, while the Philadelphia Fed Manufacturing Survey for July fell short of the expected reading of -10 with a reading of -13.5.
On Wednesday, the US building permits for June missed the expected tally of 1.49 million with a tally of 1.44 million. Housing starts for the period also fell short of the forecasted tally of 1.48 million with 1.434 million. Earlier in the week, US retail sales for June missed the expectation of 0.5% with a change of 0.2% (MoM). On the other hand, the retail sales control group for the month beat the expected change of -0.3% with a change of 0.6%, while the retail sales ex-autos missed 0.3% with a change of 0.2%.
GOLD
XAUUSD BUY 1957 - 1959💯💯 ✅ TP1: 1965
✅ TP2: 1970
✅ TP3: 1975
🛑 SL: 1952
