Gold price at the end of June is at the lowest level in the past
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The XAU/USD pair is facing downward pressure due to the modest strength of the US Dollar. Federal Reserve Chair Jerome Powell has indicated that two rate increases may occur this year, including the possibility of one at the upcoming policy meeting. Powell also stated that inflation is unlikely to reach the Fed's 2% target until 2025. These factors have contributed to the US Dollar remaining strong, which has put additional pressure on the price of Gold. However, concerns about the negative impact of rising borrowing costs on the economy may prevent traders from making significant bearish bets on the safe-haven precious metal. This could help limit further losses, at least for now.
Gold Price Prediction: XAU/USD remains stable above $1,900, US PCE Price Index anticipated to provide new momentum.
Set up SELL GOLD zone at: $1920 - $1923, sl 1933
Based on the Fibonaccy technical analysis line, the strong resistance is at the $1920-$1923 zone and sell
Gold Price Prediction: XAU/USD remains stable above $1,900, US PCE Price Index anticipated to provide new momentum.
Set up SELL GOLD zone at: $1920 - $1923, sl 1933
Based on the Fibonaccy technical analysis line, the strong resistance is at the $1920-$1923 zone and sell
Note
price is still moving sideways around $1910Note
exact trend
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