Gold remains one of the few bright spots across financial markets today amid ongoing US-China trade tensions, Brexit drama and concerns over slowing global growth.
This precious metal has marched into June with an incredibly bullish note, blasting through the psychological $1300 level thanks to a broadly weaker Dollar
From our weekend market forecast most of our long term traders got in around this price.
Market expectations over the Federal Reserve cutting interest rates this year amid persistent trade disputes are likely to dent buying sentiment towards the Dollar – ultimately pushing Gold prices higher.
Earlier today the precious metal was already powering to a nine-week high above $1335 , the next key level of interest may be found around $1347.
Currently our earlier resistance at $1335 stands as our new strong support, with the just released ADP data i see us testing and possibly breaking through $1347 before the end of today
When this happens the precious metal will have nothing to stop it till we hit our next resistance at $1360
This precious metal has marched into June with an incredibly bullish note, blasting through the psychological $1300 level thanks to a broadly weaker Dollar
From our weekend market forecast most of our long term traders got in around this price.
Market expectations over the Federal Reserve cutting interest rates this year amid persistent trade disputes are likely to dent buying sentiment towards the Dollar – ultimately pushing Gold prices higher.
Earlier today the precious metal was already powering to a nine-week high above $1335 , the next key level of interest may be found around $1347.
Currently our earlier resistance at $1335 stands as our new strong support, with the just released ADP data i see us testing and possibly breaking through $1347 before the end of today
When this happens the precious metal will have nothing to stop it till we hit our next resistance at $1360
