XAUUSD - Gold slips, can recover again?
World gold price continued to decline with spot gold down 11.6 USD to 1,924.6 USD/ounce. December gold futures last traded at $1,959.9 an ounce, down $10.1 from dawn the day before.
Gold came under pressure and continued to fall as a new report showed China's imports and exports fell more than expected in July while weak demand threatened the second-largest economy's recovery. world.
Official data released by China showed that the country's imports in July fell 12.4% year-on-year, much larger than forecast and the ninth consecutive month of decline.
Meanwhile, the amount of Chinese goods sold abroad fell 14.5% year-on-year, marking the third consecutive month of decline. This was a sharper-than-expected drop of 12.5%, while June's drop was 12.4%. The export decline in July was the fastest since the early stages of the Covid-19 pandemic in early 2020.
The dismal economic data talks about raising the possibility that China's economic activity may slow down in the third quarter of 2023. This raises fears as the demand for gold will also decrease.
Gold came under pressure and continued to fall as a new report showed China's imports and exports fell more than expected in July while weak demand threatened the second-largest economy's recovery. world.
Official data released by China showed that the country's imports in July fell 12.4% year-on-year, much larger than forecast and the ninth consecutive month of decline.
Meanwhile, the amount of Chinese goods sold abroad fell 14.5% year-on-year, marking the third consecutive month of decline. This was a sharper-than-expected drop of 12.5%, while June's drop was 12.4%. The export decline in July was the fastest since the early stages of the Covid-19 pandemic in early 2020.
The dismal economic data talks about raising the possibility that China's economic activity may slow down in the third quarter of 2023. This raises fears as the demand for gold will also decrease.
Komen:
XAUUSD SELL 1930 -1932💯💯
✅ TP1: 1927
✅ TP2: 1923
🛑 SL: 1936
✅ TP1: 1927
✅ TP2: 1923
🛑 SL: 1936
Komen:
SELL Running +20PIps ✅
Komen:
Running +40PIps ✅
Komen:
Close all +50Pips ✅
✅ TP1: 1930
✅ TP2: 1936
🛑 SL: 1915