Shinobi - XAUUSD: The downtrend shows no sign of ending
World gold price was stable with spot gold down 1 USD to 1,912.2 USD/ounce. December gold futures last traded at $1,948.9 an ounce, down $1.70 from the previous morning.
New reports on the release have shown that US development continues to "cool down" and the job market also shows signs of weakness. Specifically, the consumer price index (CPI) of the US in July increased by 3.2% over the same period last year, slightly lower than the forecast of 3.3% of experts. CPI recorded a 3.0% increase in the June report. Meanwhile, the US weekly jobless claims report was slightly higher than expected. Although both reports are tilted in favor of the US Federal Reserve (Fed) will ease monetary policy, it does not seem to be enough to reverse the trend for gold. The data could not provide much traction for this precious metal amid the USD continued to rise. Early this morning, the US Dollar Index rose 0.13% to 102.63 points, continuing to attract gold's appeal to buyers holding other currencies.
XAUUSD
BUY 1913 - 1915
TP: 1920
SL: 1909
New reports on the release have shown that US development continues to "cool down" and the job market also shows signs of weakness. Specifically, the consumer price index (CPI) of the US in July increased by 3.2% over the same period last year, slightly lower than the forecast of 3.3% of experts. CPI recorded a 3.0% increase in the June report. Meanwhile, the US weekly jobless claims report was slightly higher than expected. Although both reports are tilted in favor of the US Federal Reserve (Fed) will ease monetary policy, it does not seem to be enough to reverse the trend for gold. The data could not provide much traction for this precious metal amid the USD continued to rise. Early this morning, the US Dollar Index rose 0.13% to 102.63 points, continuing to attract gold's appeal to buyers holding other currencies.
XAUUSD
BUY 1913 - 1915 TP: 1920
SL: 1909
Comment:
In another development, China's central bank is highly likely to implement economic stimulus measures in the coming weeks in an effort to boost the country's economy after receiving a series of encouraging reports. disappointed. However, if the stimulus doesn't show in the next few months, other major economies around the world will start to feel the effects of slower growth from China. Such a scenario would significantly reduce the market for raw commodities, as it is the largest consumer of raw commodities in the world. In that environment, the precious metals market will continue to be under pressure.
Comment:
RUNNING +30PIPS
Comment:
RUNNING +50PIPS
Comment:
In a recent post on his Twitter page, senior analyst Krishan Gopaul highlighted the buying of the three central banks of Poland, Turkey and the Czech Republic. Specifically, the Central Bank of Turkey bought an additional 17 tons of gold in July, after adding 11 tons in June. The Czech Republic added 2 tons of gold reserves in July, bringing the total net buying from the beginning. year to date up nearly 10 tons, accounting for nearly half of their total 21 tons holdings.
Comment:
XAUUSD SELL 1918 - 1920
TP: 1915
SL: 1925
TP: 1915
SL: 1925
