◽️ After weeks, gold prices ended the week with a 2% gain because of Less hawkish Fed talks and gave hopes to gold buyers

◽️ Jerome Powell said that further aggressive tightening remains possible because we don’t see any cessation sign in the market and we are focused on employment data.

◽️ But Commodities, risky assets, stocks, and gold grew, only for one reason, The Fed said there is a possible slowing of rising interest rates and we would remain data-dependent.

◽️The space for gold is growing up to $1785-$1800 available, but it is still too early to be sure about the upward trend because we still have the hawkish policies of the USA.

🔻 We have to pay attention to Friday’s NFP report and Unemployment Rate because they show the next road map for FED

🔻 We predict a lower number for NFP, so we will spect the growth of gold next week

◽️ Technically, gold has formed its price floor and is supported on $1680-$1690 area

◽️ Most markets and stocks, as well as high-beta assets, were all bearish, it can be a little hopeful for gold

◽️ Dcline of the dollar index, It seems that all the hawkish monetary policies of the FED are priced in the market and probably, we won’t see big moves in the dollar again

◽️ Along with the dollar, there are signs that the peak in real yields may be behind us, which could be another driver for gold growth.

◽️ Downside risks for the euro zone, as well as the energy crisis, put pressure on this currency and increase the possibility of gold and USD Growth

🔻 A slowdown in the U.S. economy could slow the Fed’s actions. last week, S&P Institute data showed a reduction in economic production and services, so there is a retreat possibility for raising 75bp interest rates by FED

🔻 $1750 is the first and important resistance level

◽️ We are having the worst weeks for gold. The US dollar is at its turning point, the price of gold has dropped to its lowest level in the past one year, and the euro has reached parity after 20 years.

◽️ Last week’s economic data showed that with all the FED pressures and interest rate hikes US economy is still buoyant.

◽️ As a result, The FED’s leeway for interest rate hikes has increased. In such an environment, real yields have risen along with the dollar index, both of which are putting downward pressure on the Gold.

◽️ Gold will not rise unless there are some signs of dovish and less hawkish from the Fed monetary policy.

◽️ Note that US inflation has reached 9.1% and the Federal Reserve will eventually try to curb this inflation.

🔻 In technical view, there aren’t any significant support/buyer in gold low levels. So you have to be a little cautious to buy gold.

🔻 In our opinion, Best decision for gold, is waiting for any revision of the FED’s economic pressure policies

◽️ 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.