Strategy to sell gold, an opportunity when the downtrend lasts
In the world gold market, spot gold price closed yesterday in the US down 6.3 USD to 1,907.4 USD/ounce. In the Asian session this morning, gold price continued to inched slightly to 1,903.9 USD/ounce.
Gold futures for August delivery on the Comex New York exchange fell 1.6 USD, futures fell 0.08% to 1,922.2 USD/ounce.
Gold continues to fall slightly and is at a 3.5-month low as the Federal Reserve looks set to raise interest rates further through 2023.
Besides, the absence of fundamental information affecting the market in the middle of the week makes traders focus more on chart analysis of precious metals that are trending down.
High yields make gold less attractive to investors. The Fed will release the minutes of its policy meeting from June 13-14 to July 5.
Investors will keep an eye on the May 2023 Personal Consumption Price Index (PCE) data among others.
XAUUSD SELL LIMIT 1912 - 1914💯💯
✅ TP1: 1908
✅ TP2: 1902
✅ TP3: 1896
🛑 SL: 1920
Gold futures for August delivery on the Comex New York exchange fell 1.6 USD, futures fell 0.08% to 1,922.2 USD/ounce.
Gold continues to fall slightly and is at a 3.5-month low as the Federal Reserve looks set to raise interest rates further through 2023.
Besides, the absence of fundamental information affecting the market in the middle of the week makes traders focus more on chart analysis of precious metals that are trending down.
High yields make gold less attractive to investors. The Fed will release the minutes of its policy meeting from June 13-14 to July 5.
Investors will keep an eye on the May 2023 Personal Consumption Price Index (PCE) data among others.
XAUUSD SELL LIMIT 1912 - 1914💯💯
✅ TP1: 1908
✅ TP2: 1902
✅ TP3: 1896
🛑 SL: 1920
Comment:
HIT TP2 + 120Pips ✅✅
Comment:
HIT TP3 +160Pips ✅✅
