Gold will turn around and continue to rise

Gold prices rose during the Asian session on Monday. The metal's rise is supported by a weak USD and rising geopolitical risks in the Middle East. Speeches from Fed officials such as Fed Chair Michelle Bowman, Cleveland Fed President Loretta Mester and Minneapolis Fed President Kashkari on Tuesday will be notable. However, lower bets on a Fed rate cut this year and a hawkish stance from Fed officials could weigh on gold prices.

On Monday, US banks will be closed due to the Memorial Day holiday. Gold traders will wait for further cues from the Fed's statements on Tuesday. Of particular interest will be US GDP data for the first quarter on Thursday, which is expected to increase 1.5% in the first quarter. Stronger-than-expected data could strengthen the dollar and weaken gold prices.

تعليق:

🔝 XAUUSD SELL 2351 - 2353 🪙🪙🪙

✔️ TP 2345
✔️ TP2 2340

❌ SL 2360

🔝 XAUUSD BUY LIMIT 2339- 2341 🪙🪙🪙

✔️ TP : 2345
✔️ TP1 : 2350

❌ SL 2330

تم فتح الصفقة:

⚡️ running + 30 pips - Move SL to Entry🔼🔼🔼⏫⏫⏫

تعليق:

Hit TP1 : 60 pips

تم فتح الصفقة:

Hit + 120 pips