◽️ As the old saying goes, markets can stay overbought and oversold longer than most of us can stay solvent,” said Darin Newsom, president of Darin Newsom analytics.
◽️ “Additionally, Newsom’s Rule #6 tells us ‘fundamentals win in the end,’ and the U.S. dollar’s fundamentals remain bullish.
◽️ Investors worried that a more aggressive move by major central banks to constrain inflation could hit global economic growth and lead to a recession
◽️ Risk aversion and Protecting assets against inflation flow spurred a rally in bonds, due the 10-year yields peak of 3.20% could lend some support to the safe-haven gold
◽️ hedge against inflation could help limit deeper losses for the XAUUSD, at least for now
◽️ What matters most is the results of US inflation news this week, Retail Sales, Building Permits, Crude Oil Inventories, Philadelphia Fed Manufacturing Index
◽️ Calendar event result can shows the outlook of FED monetary policy for next sessions And it can be a potential driver for gold movement
🔻 The possibility that the Fed’s tightening cycle will lead to a recession is good news for gold.