XAUUSD - Gold trading strategy when the market goes sideways
Analysts said that the gold price has not shown any signs of recovery as investor sentiment is being pressured by the jobs report, as well as the distribution of a strong dollar and high bond yields.
Experts said that the US jobs report may affect the policy stance of the US Federal Reserve (Fed). In addition, independent analyst Ross Norman said that gold prices cannot recover while investor sentiment is being squeezed by the news that Fitch downgraded the credit rating of the US.
According to the Gold Demand Trends report just released by the World Gold Council (WGC), the economic downturn could present a bullish opportunity for gold in the second half of 2023, thereby further strengthening gold's position. as a safe haven asset.
Experts said that the US jobs report may affect the policy stance of the US Federal Reserve (Fed). In addition, independent analyst Ross Norman said that gold prices cannot recover while investor sentiment is being squeezed by the news that Fitch downgraded the credit rating of the US.
According to the Gold Demand Trends report just released by the World Gold Council (WGC), the economic downturn could present a bullish opportunity for gold in the second half of 2023, thereby further strengthening gold's position. as a safe haven asset.
Comment:
SELL + 80Pips ✅
