The outlook for gold is becoming more negative due to a few reasons, including US interest payments gaining momentum and a recent payrolls report indicating a strong economy.
The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a longer period of time to maintain price stability.
Despite attempts by the bulls to maintain mid-term gains, there is a possibility that the trend could shift negatively if the price falls below $1,940, encouraging those who are making excellent progress to attack the $1,900 target.
Before that happens, I anticipate that gold will undergo a short-term test of the 1965 and 1975 areas, enabling us to develop a sound selling strategy.
The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a longer period of time to maintain price stability.
Despite attempts by the bulls to maintain mid-term gains, there is a possibility that the trend could shift negatively if the price falls below $1,940, encouraging those who are making excellent progress to attack the $1,900 target.
Before that happens, I anticipate that gold will undergo a short-term test of the 1965 and 1975 areas, enabling us to develop a sound selling strategy.
Note
Traders. What price do you think Gold will reach today?Transaction en cours
1939 => 1946 runningTransaction en cours
1961 now ✅✅✅Transaction en cours
Note
Waiting for sell orders from 1963 to 1950
Transaction en cours
Gold 1966 => 1954
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.