◽️ Gold disappointed traders last week and recorded 4% decrease, lowest price in the last two months

◽️ FED consensus for hike another 75bp interest rates to suppress inflation, so gold will continue to trade in confusion next week.

◽️ But the point is that with the previous FED pressures and the global consensus for ordering the supply of energy, we saw some commodities prices decrease last weeks.

◽️ As a result, there is a possibility of reductions in prices, then the lower CPI index release can be healing for gold growth.

◽️ Gold is in the good support levels, and we can predict a short-term retracement in prices

◽️ Recent drop is mostly due to the rise of the dollar index, and technicallyis is in OB level. So any correction becomes stronger

🔻 Gold is in a short trend, even with these support levels, We tend to be a spectator and wait for some long trend signs

🔻 Support levels are $1719 – $1687 and resistance levels on the way are $1762 – $1776 and $1808

◽️ Last week Gold closed with negative red prices and shows us that the short-term sentiment is still bearish.

◽️ Last downside movement despite the G7 news that four members decided to ban imports of Russian gold and also US Durable Goods Orders helps this falling.

◽️ Gold is ranging between buyers due to the favorable price of $1,800 and sellers with the Risk of rising interest rates around the world.

◽️ Eurozone inflation hit 8.6% year-on-year in June, so we expect more globally hawkish policy. inflation is increasing and will be a roadblock for gold.

◽️ Gold prices will continue to pressure as the Federal Reserve moves to raise interest rates and we are ready for a new 75bp interest rate hike this month

🔻 Keep eyes on FOMC Minutes and US Nonfarm Payrolls data to catch US monetary policy

🔻 We are looking for sells gold on any jumps around $1825 – $1840

◽️ FED raised the interest rate 75bp on Wednesday, the highest level in 28 years, But the gold market has shown good resistance to this sharp hike in interest rates

◽️ Rising fears of a recession have led to a sharp drop in the stock market, cryptocurrency, and ounce support in the 1800s.

◽️ Investors who are selling their stock, and their Cryptocurrency assets, will definitely invest some of their capital in gold.

◽️ But remember this point, Big Investors and Business owners have to sell their gold and cryptos to provide the margins they need and protect their companies.

🔻 So, because of recession risk, we may have a short-term downside on gold, But in long term, what we predicted, gold is in good support

🔻 As long as the price of gold remains between 1878 and 1787, it is technically considered a neutral move.

🔻 Gold will reach $2,000 when the Federal Reserve no longer puts pressure on the economy, and the government increases spending again.

◽️ Last week wee see an intense flight for gold, main reason was escape from the inflationary recession.

◽️ Despite the Federal Reserve’s hawkish policies, inflation remains high, and this is a major sign of recession, So gold got a great support.

◽️ Investors have deep doubts about the Fed’s ability to contain inflation.

◽️ The rise in gold prices came after the US Department of Labor announced that the consumer price index in May had risen 8.6 percent from a year earlier.

◽️ The Federal Reserve’s decision on this week could put more short-term pressure on gold.

◽️ The Federal Reserve is likely to raise interest rates by 50 basis points on Wednesday, June 15

🔻 So our forecast is short-term bearish because the fed monetary policy

🔻 But it has a long way to go because we predict the Federal Reserve cannot reduce inflationary pressures

🔻 The market calms down a bit this week after digestion, but as we mentioned earlier, gold stays bullish for a long time.

◽️ Gold try to recover it’s losses last week but seems to be having a tough gathering bullish momentum.

◽️ The US10Y grew around 1% last days of the week and pressured on gold.

◽️ The Federal Reserve Hawkish policies are the only thing that puts downward pressure on gold

◽️ But in our view, gold maintains its upward bias But the economy is not so strong and most experts are talking about a recession

◽️ We predict a period of stagflation and this is positive for gold.

◽️ What matters in the short term is the Federal Reserve raising interest rates, which is driving traders to buy dollars.

◽️ The Fed will remain seriously Hawkeyes, and we will see more than a 50-fold increase in interest rates.

◽️ The Fed will remain seriously Hawkeyes, and we will see more than a 50-fold increase in interest rates.

🔻 As a result, we are waiting for the gold trade to be ready for a recession and a rise in gold after the end of US monetary policy.

◽️ 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.