◽️ 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.

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◽️ 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.

πŸ”» 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.

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