Is a new major bullish trend about to begin? This week or next week? Or maybe things price may go south instead?
The gold turned out as forecast as it climbed first but fell from rejection at a minor supply zone.
Gold is entering the final week of completing a 3-month consolidation just the same way as the consolidation in Feb-May period before a new major bullish wave begins.
The fundamental hasn't changed except that the dollar shall remain resilient for now as the Fed paused for any further rate cut.
Gold is very much driven by risk sentiment and the lastest statement about Hong Kong by President Trump which may affect a trade deal between the US and China does bother me, somehow.
Nevertheless, I think it's fair to take a bet as the price retest the low at the 3-month demand zone.
Let's observe how gold will react in the beginning of this trading week.
The gold turned out as forecast as it climbed first but fell from rejection at a minor supply zone.
Gold is entering the final week of completing a 3-month consolidation just the same way as the consolidation in Feb-May period before a new major bullish wave begins.
The fundamental hasn't changed except that the dollar shall remain resilient for now as the Fed paused for any further rate cut.
Gold is very much driven by risk sentiment and the lastest statement about Hong Kong by President Trump which may affect a trade deal between the US and China does bother me, somehow.
Nevertheless, I think it's fair to take a bet as the price retest the low at the 3-month demand zone.
Let's observe how gold will react in the beginning of this trading week.
