21TH JUNE GOLD PREDICTION
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Here are some factors that might explain the sharp rise in gold prices on June 20, 2024:
US Federal Reserve Decision: The Federal Reserve announced that it would pause interest rate hikes for the foreseeable future, citing concerns over economic growth and inflation stability. This decision led to a drop in bond yields and a weaker US dollar.
Inflation Concerns: The latest CPI report showed inflation rising faster than expected, increasing demand for gold as an inflation hedge.
Geopolitical Tensions: Rising tensions between the US and China over trade policies created uncertainty in the markets, prompting a flight to safe-haven assets.
Stock Market Decline: The US stock market experienced a significant drop due to disappointing earnings reports from major companies, driving investors towards gold.
ETF Inflows: There was a notable increase in inflows into gold ETFs, reflecting heightened investor interest in gold.
Today we have strategy based on technical analysis
Sell zone: 2362- 2365
Stop Loss: above the zone
R:R = 1:3
Buy zone: 2330 - 2337
Stop Loss: Below the zone
R:R = 1:3
US Federal Reserve Decision: The Federal Reserve announced that it would pause interest rate hikes for the foreseeable future, citing concerns over economic growth and inflation stability. This decision led to a drop in bond yields and a weaker US dollar.
Inflation Concerns: The latest CPI report showed inflation rising faster than expected, increasing demand for gold as an inflation hedge.
Geopolitical Tensions: Rising tensions between the US and China over trade policies created uncertainty in the markets, prompting a flight to safe-haven assets.
Stock Market Decline: The US stock market experienced a significant drop due to disappointing earnings reports from major companies, driving investors towards gold.
ETF Inflows: There was a notable increase in inflows into gold ETFs, reflecting heightened investor interest in gold.
Today we have strategy based on technical analysis
Sell zone: 2362- 2365
Stop Loss: above the zone
R:R = 1:3
Buy zone: 2330 - 2337
Stop Loss: Below the zone
R:R = 1:3
Note
Plan sell 2365 100 pips
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