The gold market remains stable as bond yields and the US dollar continue to rise. However, the market is facing difficulties with further liquidation of gold-backed exchange-traded products.
According to the latest market report released on Tuesday, analysts at the World Gold Council stated that global ETF market saw a decrease in holdings by 34 tons, worth $2.3 billion. This is the fourth consecutive month of liquidation in the gold market.
According to the latest market report released on Tuesday, analysts at the World Gold Council stated that global ETF market saw a decrease in holdings by 34 tons, worth $2.3 billion. This is the fourth consecutive month of liquidation in the gold market.
Nota
Stocks rose Thursday after a key inflation reading showed slightly less year-over-year inflation growth than expected.🟢The Dow Jones Industrial Average advanced 337 points, or 1%.
🟢The S&P 500 climbed 0.9%, and the Nasdaq Composite rose 1.1%.
Nota
Technically, gold price failed to sustain in its sideways range at $1,930 - $1,950 and turned down.Nota
Yields on 10-year US government bonds last week increased continuously, from 4% to 4.138%/year, making gold less attractive.Nota
Before the strength of the USD and bonds, speculators limited their holdings of precious metals, causing the world gold price to drop to 1,902 USD/ounce last night.Nota
BUY XAUUSD zone 1899 - 1902SL: 1896
TP: 1905
TP: 1908
Dagangan ditutup: sasaran tercapai
It's Hit TP2 + 90pips 🧃🧃🧃Nota
Immediate support is the 38.2% Fibonacci retracement level at 1903. A confirmatory close under this point exposes the midpoint at 1848. Otherwise, in the event of a turn higher, keep a close eye on the falling trendline from April. This could hold as resistance, maintaining the near-term downside focus.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.