GOLD - Pressure of USD, Gold price drop, opportunity now
Fed Chair Jerome Powell has sounded the alarm that the longer the use grows, the higher the risk is, and that the use grows towards the 2% criterion target is a difficult target. towel. The market is also starting to get interested in Mr. Powell's expected two or more rate hikes this year. According to the CME FedWatch Tool, there is an almost 90% chance that interest payments will increase by 25 basis points in July.
In the current macro environment, the possibility of a Full Recession is very small. This could make it difficult for gold in the short-term, with the risk that the price could drop below $1,900 an ounce.
From a technical perspective, gold could drop to $1,730 an ounce, down about 10% from current levels. However, Metals Focus forecasts that the annual average price for 2023 will likely be at $ 1,890 / ounce.
GOLD BUY 1905 - 1907💯💯
✅ TP1: 1912
✅ TP2: 1918
✅ TP3: 1925
🛑 SL: 1899
In the current macro environment, the possibility of a Full Recession is very small. This could make it difficult for gold in the short-term, with the risk that the price could drop below $1,900 an ounce.
From a technical perspective, gold could drop to $1,730 an ounce, down about 10% from current levels. However, Metals Focus forecasts that the annual average price for 2023 will likely be at $ 1,890 / ounce.
GOLD BUY 1905 - 1907💯💯
✅ TP1: 1912
✅ TP2: 1918
✅ TP3: 1925
🛑 SL: 1899
