Weekly gold analysis

◽️ Downward pressure, Due to the Hawkeye FED monetary policy alongside the Upward pressure because of the inflation risk and war, we have a MIX Sentiment in gold

◽️ There are a lot of Long and Short trades on gold and according to the COT report analysis, we had -14,530 positions trimmed in total 239,757 net positions

◽️ Although the Ukrainian war is priced in the market, a stalemate in Ukraine’s peace talks could put upward pressure on gold

◽️ Further downward pressure on gold indicates that the market is focusing on Fed monetary policies.

◽️ Everyone is waiting for the results of global economic data to clear up and estimate the economy grows and inflation

◽️As the U.S. dollar and bond yields continue to rise we can see lower prices in gold around $1900

🔻 All ayes on GDP, Crude oil investment, and Core Durable Goods Orders calendar events this week

🔻 Technically if gold can hold the 1916$ area we prefer to enter a new long position