◽️ 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