XAUUSD - Gold up, USD reversal
The world gold price increased again after a series of quiet days thanks to the weakening of the USD. The falling greenback volatility gauge has increased gold's appeal to buyers holding other currencies.
Looking to the medium term, Adrian Day - President of Investments Adrian Day Asset Management - is optimistic about the gold market when he thinks that the fear of recession will support the precious metal. This expert believes that the US economy is still on the path of weakness at the end of the year.
Optimistic about gold prices for the rest of the year, but he noted, the precious metal will face a significant amount short-term. He points out that short-term Treasuries offer a yield of about 5%, which is significant competition for gold, which offers no benefits and costs money to hold.
XAUUSD SELL 1921- 1923🕯
✅ TP1: 1914
✅ TP2: 1907
⚠️ SL: 1931
Looking to the medium term, Adrian Day - President of Investments Adrian Day Asset Management - is optimistic about the gold market when he thinks that the fear of recession will support the precious metal. This expert believes that the US economy is still on the path of weakness at the end of the year.
Optimistic about gold prices for the rest of the year, but he noted, the precious metal will face a significant amount short-term. He points out that short-term Treasuries offer a yield of about 5%, which is significant competition for gold, which offers no benefits and costs money to hold.
XAUUSD SELL 1921- 1923🕯
✅ TP1: 1914
✅ TP2: 1907
⚠️ SL: 1931
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