GOLD-Continuing to go down, there is a risk of a deeper decrease
Rising bond yields have put downward pressure on gold. This morning, the yield on the US 10 Treasury note rose to 3.83%, increasing the opportunity cost of holding non-yielding assets like gold.
Experts forecast gold has a risk of falling to $ 1,900 / ounce in the short term as the US Federal Reserve (Fed) and European Central Bank (ECB) continue to commit to additional interest rate hikes. rate in re-compatibility The goal of achieving the goal of price stability.
The gold market now awaits comments from Fed Chairman Jerome Powell at the ECB's annual policy conference held in Sintra, Portugal. Expectations of further rate hikes, particularly in the US, are likely to continue to weigh on the gold market, according to a Commerzbank analyst. Central bankers, including Mr. Powell, are likely to continue to adopt a softer tone at the Sintra meeting.
With this environment, gold is at risk of falling below $1,900 an ounce, said OANDA senior market analyst Edward Moya. “The situation has been pretty bad for gold since early May and if expectations the Fed will continue on its aggressive tightening path up, that could bring gold down to $1,900 an ounce,” Moya said.
GOLD SELL LIMIT 1918 -1920 💯💯
✅ TP1: 1912
✅ TP2: 1905
✅ TP3: 1900
🛑 SL: 1926
Experts forecast gold has a risk of falling to $ 1,900 / ounce in the short term as the US Federal Reserve (Fed) and European Central Bank (ECB) continue to commit to additional interest rate hikes. rate in re-compatibility The goal of achieving the goal of price stability.
The gold market now awaits comments from Fed Chairman Jerome Powell at the ECB's annual policy conference held in Sintra, Portugal. Expectations of further rate hikes, particularly in the US, are likely to continue to weigh on the gold market, according to a Commerzbank analyst. Central bankers, including Mr. Powell, are likely to continue to adopt a softer tone at the Sintra meeting.
With this environment, gold is at risk of falling below $1,900 an ounce, said OANDA senior market analyst Edward Moya. “The situation has been pretty bad for gold since early May and if expectations the Fed will continue on its aggressive tightening path up, that could bring gold down to $1,900 an ounce,” Moya said.
GOLD SELL LIMIT 1918 -1920 💯💯
✅ TP1: 1912
✅ TP2: 1905
✅ TP3: 1900
🛑 SL: 1926
