Cash flow will pour into gold and gold prices will reach recor h
Güncellendi
Gold is assessed to benefit in the context of increased risks after the incident of former US President Donald Trump being suspected of shooting during an election campaign in Butler, Pennsylvania on July 13. If Mr. Trump wins the election next November, the USD may weaken, thereby also pushing up gold prices.
Macroeconomic data that is no longer bright is the basis for US Federal Reserve Chairman Jerome Powell to recently signal a reversal in monetary policy. Mr. Powell expressed concern about the weakening of the economy and the risk of recession.
In a testimony before the US Congress last week, the most powerful man in the world's financial industry said that the US will cut interest rates and not wait until inflation is clearly heading towards the 2% target.
The USD has recently declined following signals from the Fed, thereby putting pressure on gold.
Gold also increased in price thanks to positive signals from technical analysis. The upward price momentum has been established after precious metals rose quite firmly above the threshold of 2,400 USD/ounce over the past several days. Upward momentum is being confirmed and gold is forecast to set a new all-time high, possibly as soon as this week.
Macroeconomic data that is no longer bright is the basis for US Federal Reserve Chairman Jerome Powell to recently signal a reversal in monetary policy. Mr. Powell expressed concern about the weakening of the economy and the risk of recession.
In a testimony before the US Congress last week, the most powerful man in the world's financial industry said that the US will cut interest rates and not wait until inflation is clearly heading towards the 2% target.
The USD has recently declined following signals from the Fed, thereby putting pressure on gold.
Gold also increased in price thanks to positive signals from technical analysis. The upward price momentum has been established after precious metals rose quite firmly above the threshold of 2,400 USD/ounce over the past several days. Upward momentum is being confirmed and gold is forecast to set a new all-time high, possibly as soon as this week.
Not
SELL gold 2474 TP1: 2468
TP2: 2460
SL: 2483
Not
running + 40 pipsNot
Running + 70 pipsNot
running + 90 pips
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