Gold price retreats from all time high amid profit taking. Gold price struggles to capitalize on intraday move up to fresh all time high. The risk on environment prompts some profit-taking amid a slightly overbought RSI. September Fed rate cut bets keep the USD bulls on the defensive and lend support. Gold price hits an all-time high of 2483 on growing expectations of a Fed rate cut in September. Trump potential election win fuels market volatility, driving investors to non-yielding assets. Lower than-expected inflation data and Powell’s dovish comments underpins Gold. Pair hits the vertical resistance and created diagonal is well. A Good bullish impulse also be done in one side for the continuation of trend a correction phase is expected here towards the mentioned fib retracement Level.
Penafian
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