◽️ 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.

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◽️ 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

πŸ”» Keep eyes on FOMC Minutes and US Nonfarm Payrolls data to catch US monetary policy

πŸ”» We are looking for sells gold on any jumps around $1825 – $1840