Gold price (XAU/USD) is demonstrating a non-directional performance on Wednesday after printing a fresh seven-month high above $1,980.00. The precious metal witnessed immense strength on Tuesday after US Retail Sales for June showed that consumer spending momentum has slowed down but is still sufficient to push the Federal Reserve (Fed) to raise interest rates further at its July 26 FOMC meeting.
Inflationary pressures in the United States are slowing down as the recruitment process by firms is increasing at a snail’s pace. US firms are facing the wrath of higher interest rates by the Fed and tight credit conditions by regional banks. New filters have been added to the credit distribution process by commercial banks to maintain asset quality in a turbulent environment.
XAUUSD
SELL 1978 - 1980💯💯
✅ TP1: 1970
✅ TP2: 1965
🛑 SL: 1984
Inflationary pressures in the United States are slowing down as the recruitment process by firms is increasing at a snail’s pace. US firms are facing the wrath of higher interest rates by the Fed and tight credit conditions by regional banks. New filters have been added to the credit distribution process by commercial banks to maintain asset quality in a turbulent environment.
XAUUSD
SELL 1978 - 1980💯💯 ✅ TP1: 1970
✅ TP2: 1965
🛑 SL: 1984
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XAUUSD SELL 1985 - 1987💯💯
✅ TP1: 1980
✅ TP2: 1975
🛑 SL: 1991
✅ TP1: 1980
✅ TP2: 1975
🛑 SL: 1991
