Precious metal prices have just experienced a week of strong fluctuations with a relatively wide range after a series of data was released. Despite seeing a solid recovery from multi-month lows this week, some analysts note that the precious metal remains unlikely to escape its current range next week amid yields Bonds rose and the dollar strengthened. According to Phillip Streible, chief market strategist at Blue Line Futures, there are currently no factors that can stop the rise in bond yields.
However, some experts say that gold's resilience in recent times should not be ignored. Gold has demonstrated surprising strength, retaining key support levels as yields hit a 15-year high and the US Dollar Index surpassed 104 points. The fact that gold holds support even as USD strength has turned back over the past few days is a pretty bullish factor.
However, some experts say that gold's resilience in recent times should not be ignored. Gold has demonstrated surprising strength, retaining key support levels as yields hit a 15-year high and the US Dollar Index surpassed 104 points. The fact that gold holds support even as USD strength has turned back over the past few days is a pretty bullish factor.
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➡️The dollar fell in cautious trading as investors assessed the US jobs data, which included signs of slowdown, which reinforced expectations that the US Federal Reserve has probably reached the end of the monetary tightening cycle.
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ECB President Lagarde: At a time when people are paying the most attention, central banks must deliver their key communications to ensure these expectations remain firmly anchored.
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➡️Michael Burry has now lost approximately -42% of his bet ($1.6 billion) against the S&P 500 and Nasdaq.
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🕯 SELL GOLD | 1924 - 1926
🔴 SL: 1930
🟢 TP1: 1920
🟢 TP2: 1915
🔴 SL: 1930
🟢 TP1: 1920
🟢 TP2: 1915
Master: Inflation is still very high, but I see progress in reducing price pressures