Gold is in danger of plummeting to 1900
* US Gold futures GCCv1 fell 0.2% to $1,963.10.
* The dollar index .DXY performed strongly, hovering near its highest level in a week since July 20, limiting gold's gains as a stronger dollar boosts the price of gold for holders of other currencies. USD/
* Decisions by the Fed, European Central Bank (ECB) and Bank of Japan this week will all be announced within 48 hours from Wednesday to Friday.
* Markets are fully pricing in a 1/4 point rate hike by the Fed and ECB, and the focus will be on what Fed Chair Powell and ECB President Christine Lagarde say about the future.
* Higher interest rates increase the opportunity cost of owning unprofitable bullion.
GOLD SELL 1972 - 1970💯💯
✅ TP1: 1964
✅ TP2: 1958
✅ TP3: 1953
🛑 SL: 1978
* The dollar index .DXY performed strongly, hovering near its highest level in a week since July 20, limiting gold's gains as a stronger dollar boosts the price of gold for holders of other currencies. USD/
* Decisions by the Fed, European Central Bank (ECB) and Bank of Japan this week will all be announced within 48 hours from Wednesday to Friday.
* Markets are fully pricing in a 1/4 point rate hike by the Fed and ECB, and the focus will be on what Fed Chair Powell and ECB President Christine Lagarde say about the future.
* Higher interest rates increase the opportunity cost of owning unprofitable bullion.
GOLD SELL 1972 - 1970💯💯✅ TP1: 1964
✅ TP2: 1958
✅ TP3: 1953
🛑 SL: 1978
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