Gold Trades at Five-Week Lows Amid Strong Dollar and Treasury,..
On Monday, gold remained below the $1,920 per ounce mark, maintaining its position at a five-week nadir. The precious metal encountered pressure emanating from a robust dollar and elevated Treasury yields, which were driven by a US producer inflation report for July surpassing expectations. This event heightened speculations that the Federal Reserve would prolong its maintenance of higher interest rates.
Investors are also preparing for the release of US retail sales data and the minutes from the Fed's recent policy meeting this week. These releases are anticipated to provide guidance for both economic conditions and interest rate trends.
Additionally, on Tuesday, Japan is set to unveil its second quarter GDP figures, while China is scheduled to disclose data concerning industrial production, retail sales, and employment numbers on Wednesday.
XAUUSD BUY LIMIT 1909- 1911💯💯
✅ TP1: 1916
✅ TP2: 1921
✅ TP3: 1926
🛑 SL: 1900
Investors are also preparing for the release of US retail sales data and the minutes from the Fed's recent policy meeting this week. These releases are anticipated to provide guidance for both economic conditions and interest rate trends.
Additionally, on Tuesday, Japan is set to unveil its second quarter GDP figures, while China is scheduled to disclose data concerning industrial production, retail sales, and employment numbers on Wednesday.
XAUUSD BUY LIMIT 1909- 1911💯💯
✅ TP1: 1916
✅ TP2: 1921
✅ TP3: 1926
🛑 SL: 1900
