XAU Rising Strongly After Deep Fall

8 août

Gold (XAU/USD) rose on Thursday, snapping a four-day losing streak, although it lacked momentum and remained below $2,400 heading into the European session. Investors remain concerned about the economic slowdown in China and the possibility of a US recession. This, coupled with escalating geopolitical tensions in the Middle East, should act as a supportive factor for gold. Moreover, expectations of more rate cuts from the Federal Reserve (Fed) kept the US dollar on the defensive, confirming the positive outlook for the non-yielding precious metal.

8 août

Note

BUY XAU 2419

TP1: 2425
TP2: 2430

SL: 2412

9 août

Note

HIT TP 1 : 60 pips