GOLD (June 19) A big move coming after weeks of neutral stance
The gold market has been stable until June, trading between $1,940 and just below $2,000. However, analysts warn that after weeks of sideways movement, gold is ready for a more significant action.
Markets are currently pricing in another interest rate hike in July. If that changes, gold will react. Meanwhile, gold is closely focused on macro releases and the US dollar. Additionally, precious metal investors are monitoring central bank gold buying activity, which slowed down in Q2.
Markets are currently pricing in another interest rate hike in July. If that changes, gold will react. Meanwhile, gold is closely focused on macro releases and the US dollar. Additionally, precious metal investors are monitoring central bank gold buying activity, which slowed down in Q2.
✅Buy order in the $1,942-$1,945 price zone when the support zone is approached.
✖️Stoploss: $1,937.
✅Sell the $1,982-$1,979 range when the price hits the resistance area.
✖️Stoploss: $1,985.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!