⚡️Gold continues losing ground for the seventh straight day and drops to a fresh multi-month trough.
⚡️Hawkish Fed expectations, elevated US bond yields and bullish USD continue to weigh on the metal.
⚡️A softer risk tone fails to lend support, though oversold conditions could help limit any further losses.
⚡️Gold price (XAU/USD) prolongs its recent well-established downtrend for the seventh successive day and drops to the $1,815 area, its lowest since March 9 during the Asian session on Tuesday.
⚡️The Federal Reserve’s (Fed) higher-for-longer interest rate narrative pushes the US Treasury bond yields to a fresh multi-decade high and continues to underpin the US Dollar (USD), which, in turn, is seen undermining the Gold price. Investors now seem convinced that the US central bank will stick to its hawkish stance and have been pricing in the possibility of at least one more rate hike by the end of this year.
⚡️ Gold has continuously broken support zones to continue the trend.
BUY
XAUUSD
PRICE 1804 - 1806 ⚡️↠↠ STop 1798
→Profit 1 1810
↨
→Profit 2 1820
SELL
XAUUSD
PRICE 1836 - 1839⚡️↠↠ STop 1842
→Profit 1 1825
↨
→Profit 2 1915
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
⚡️Hawkish Fed expectations, elevated US bond yields and bullish USD continue to weigh on the metal.
⚡️A softer risk tone fails to lend support, though oversold conditions could help limit any further losses.
⚡️Gold price (XAU/USD) prolongs its recent well-established downtrend for the seventh successive day and drops to the $1,815 area, its lowest since March 9 during the Asian session on Tuesday.
⚡️The Federal Reserve’s (Fed) higher-for-longer interest rate narrative pushes the US Treasury bond yields to a fresh multi-decade high and continues to underpin the US Dollar (USD), which, in turn, is seen undermining the Gold price. Investors now seem convinced that the US central bank will stick to its hawkish stance and have been pricing in the possibility of at least one more rate hike by the end of this year.
⚡️ Gold has continuously broken support zones to continue the trend.
BUY
XAUUSD
PRICE 1804 - 1806 ⚡️↠↠ STop 1798 →Profit 1 1810
↨
→Profit 2 1820
SELL
XAUUSD
PRICE 1836 - 1839⚡️↠↠ STop 1842 →Profit 1 1825
↨
→Profit 2 1915
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
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⚡️ Gold price remains under pressure as Fed policymakers see one more interest rate hike this year.
