Gold June 20: Gold trend after a quiet holiday
A quiet holiday Monday with US markets closed, and overall nothing to offer for the macro economy. Gold eases slightly as the US Dollar partially corrects its oversold conditions.
Although the latest developments have pointed to persistent weakness in the USD, financial markets in general are still optimistic.
Gold's daily chart offers a technically neutral view, as the Momentum and Relative Strength Index (RSI) indicators aim slightly lower while remaining stuck at them between line.
Today I hope gold will return to the price range
XAUUSD
1939 - 1943
And my goal will be: 1949 - 1961
Although the latest developments have pointed to persistent weakness in the USD, financial markets in general are still optimistic.
Gold's daily chart offers a technically neutral view, as the Momentum and Relative Strength Index (RSI) indicators aim slightly lower while remaining stuck at them between line.
Today I hope gold will return to the price range
XAUUSD
1939 - 1943 And my goal will be: 1949 - 1961
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The Dow Jones Industrial Average teetered around the flatline.
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The dollar received a boost earlier in the week when the US Federal Reserve predicted at least two more hikes this year, despite the temporary pause in a series of interest rate increases, as core inflation remained heading above the central bank's target range.
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Markets will not favor a tightening of the Federal Reserve, which is reflected in futures prices, which indicated that any increase in interest rates is an unpleasant surprise.
