GOLD - Strategy to buy gold after a series of falling days
Gold came under downward pressure after the US announced that US durable goods orders in May rose 1.7% versus forecasts for a 1% drop. This data immediately supported USD, thereby putting pressure on gold.
The fact that the US announced positive economic signals made investors worried that the US Federal Reserve (Fed) would have more grounds to raise interest rates two more times in the second half of the year and could keep original interest rate. high rate for a long time.
Gold was also under pressure as cash flow returned to many stock markets after geopolitical risks in Russia waned.
However, the Russia-Ukraine conflict still contains many risks. This is a positive factor for gold.
In addition, many countries have reversed monetary policy from easing austerity to revive the economy. These moves also helped many commodities, including gold, go up.
Gold is also still considered a broadcast channel when it comes to playback.
In the long term, gold is still forecasted to increase again when the Fed reverses monetary policy (probably from 2024), thereby causing the USD to depreciate.
XAUUSD BUY 1909 -1911 💯💯
✅ TP1: 1918
✅ TP2: 1924
✅ TP3: 1930
🛑 SL: 1902
The fact that the US announced positive economic signals made investors worried that the US Federal Reserve (Fed) would have more grounds to raise interest rates two more times in the second half of the year and could keep original interest rate. high rate for a long time.
Gold was also under pressure as cash flow returned to many stock markets after geopolitical risks in Russia waned.
However, the Russia-Ukraine conflict still contains many risks. This is a positive factor for gold.
In addition, many countries have reversed monetary policy from easing austerity to revive the economy. These moves also helped many commodities, including gold, go up.
Gold is also still considered a broadcast channel when it comes to playback.
In the long term, gold is still forecasted to increase again when the Fed reverses monetary policy (probably from 2024), thereby causing the USD to depreciate.
XAUUSD BUY 1909 -1911 💯💯
✅ TP1: 1918
✅ TP2: 1924
✅ TP3: 1930
🛑 SL: 1902
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