Gold June 20: What will be the focus this week?

Gold prices started the week off with losses extending to a third day in a row, as the US Dollar was finding support from more bets on the upcoming July Fed rate hike.

The focus this week will be on the testimony of Fed Chairman Jerome Powell before Congress and the monetary policy decision of the Bank of England (BoE). Powell's words are often published before events, which often attract the attention of speculators as he can provide additional clues about the future of monetary policy.

Today I hope gold will return to the price range XAUUSD 1953 - 1955
And my goal will be: 1934 - 1946

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A host of weak economic readings for the United States, including slowing industrial production and stagnation in retail sales, has raised questions about how far the Federal Reserve will raise interest rates.

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If the Fed allows inflation to stabilize, it will eventually have to raise interest rates even more, making it even more difficult to restore credibility.

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