GOLD will continue to accumulate in the coming sessions
已更新
World gold prices decreased significantly in the trading session on Friday (June 28), after US statistics showed that inflation continued to deescalate and was in line with forecasts, reinforcing the possibility that the Federal Reserve The Federal Reserve (Fed) may cut interest rates in September. Many experts predict that gold prices will continue to accumulate in the coming sessions, with the possibility of breaking out of the 2,300-2,350 USD/oz range in the short term. short.
Although the US Dollar index (DXY) remained stable during the day, gold prices still increased. US macro data released yesterday and tensions in the Middle East are supporting gold prices.
On the evening of June 27 local time, air defense sirens sounded across a large area in northern Israel. The Israeli army said the northern region of the country was attacked by about 35 rockets from Lebanon. Israel's air defense system blocked most of the missiles.
The Israeli army said the attack caused no casualties among local people. However, the attack caused fires in two northern areas.
Since the outbreak of a new round of conflict between Palestinians and Israelis on October 7 last year, Hezbollah in Lebanon has occasionally carried out attacks in northern Israel, and the Israeli military has retaliated with airstrikes. bombardment and shelling of targets in southern Lebanon. A large number of residents in the northern border area have been evacuated.
The conflict continued to escalate this month. On June 6, the Israeli Northern Command announced that it had completed the deployment of forces to conduct a large-scale attack against Hezbollah in Lebanon. On June 11, Lebanese Hezbollah commander Talib Abdullah was killed in an Israeli airstrike. Hezbollah then launched a large-scale rocket attack on Israel.
Follow the US elections
After the first televised debate of the US presidential election, Republican presidential candidate Donald Trump's approval rating significantly surpassed that of incumbent President Biden.
During the debate, Biden often looked away when Trump spoke and Biden's statements were also quite weak. Some information said Biden had a cold.😁
The impact of the US presidential debate on the market has so far been limited. Although the US dollar's rise is in line with Trump's comments that he could increase trade tensions and concerns about fiscal extravagance. However, the increase in USD price seems to be more related to economic factors announced in US macro data.
Although the US Dollar index (DXY) remained stable during the day, gold prices still increased. US macro data released yesterday and tensions in the Middle East are supporting gold prices.
On the evening of June 27 local time, air defense sirens sounded across a large area in northern Israel. The Israeli army said the northern region of the country was attacked by about 35 rockets from Lebanon. Israel's air defense system blocked most of the missiles.
The Israeli army said the attack caused no casualties among local people. However, the attack caused fires in two northern areas.
Since the outbreak of a new round of conflict between Palestinians and Israelis on October 7 last year, Hezbollah in Lebanon has occasionally carried out attacks in northern Israel, and the Israeli military has retaliated with airstrikes. bombardment and shelling of targets in southern Lebanon. A large number of residents in the northern border area have been evacuated.
The conflict continued to escalate this month. On June 6, the Israeli Northern Command announced that it had completed the deployment of forces to conduct a large-scale attack against Hezbollah in Lebanon. On June 11, Lebanese Hezbollah commander Talib Abdullah was killed in an Israeli airstrike. Hezbollah then launched a large-scale rocket attack on Israel.
Follow the US elections
After the first televised debate of the US presidential election, Republican presidential candidate Donald Trump's approval rating significantly surpassed that of incumbent President Biden.
During the debate, Biden often looked away when Trump spoke and Biden's statements were also quite weak. Some information said Biden had a cold.😁
The impact of the US presidential debate on the market has so far been limited. Although the US dollar's rise is in line with Trump's comments that he could increase trade tensions and concerns about fiscal extravagance. However, the increase in USD price seems to be more related to economic factors announced in US macro data.
註釋
Gold price closed the trading week at 2,326 USD/ounce, a slight increase of about 5 USD/ounce compared to the end of last week.Precious metals on the international exchange have not been able to break out in the short term as the USD continues to maintain a high level. The USD index currently stands around 105.87 points, up 1.14% over the previous month.
註釋
![GOLD MARKET ANALYSIS AND COMMENTARY - [July 01 - July 05]](https://s3.tradingview.com/8/8WKhtdhe_mid.png)
註釋
World gold prices started a new trading week this morning (July 1) in a slightly decreasing state. After rising strongly in the second quarter and the first half of the year, gold prices have leveled off recently and experts predict they will continue to struggle in the short term.註釋
Goldman Sachs predicts when and how much the US Federal Reserve will cut interest ratesTwo analysts at the famous American investment bank, Goldman Sachs, presented their expectations for the steps of the US Federal Reserve regarding the date and number of times it will cut interest rates during the bank’s meetings this year.
註釋
🔴Fed says it’s not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal.註釋
The dollar declines after interest rate cut hopes riseThe US dollar fell in early European trade on Thursday as weak economic data raised expectations of interest rate cuts by the Federal Reserve, while the pound rose as the UK headed to the polls.
At 13:34 Riyadh time, the dollar index, which measures the US currency against a basket of six other currencies, was trading 0.15% lower at 104.907, continuing the sharp declines seen overnight.
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🔴The dollar falls to its lowest level in 3 weeks before the release of employment dataThe US dollar fell sharply during major foreign exchange trading on Thursday, as market expectations rose regarding the Federal Reserve ending its monetary tightening policy.
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Goldman Sachs upgrades UK growth forecast after huge Labour election winGoldman Sachs on Friday upgraded its growth forecast for the U.K. after the Labour Party’s victory in the country’s general election.
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📌The trading plan for next week will be to buy if the price returns to test around the 2335 barrier, and to sell if the price approaches the 2440 area.註釋
This week will be a busy week for financial markets due to the release of many important US economic information. On Tuesday and Wednesday, Fed Chairman Jerome Powell will give regular testimony on monetary policy before the US Congress. Next, the US Department of Labor will release the June consumer price index (CPI) report on Thursday and the producer price index (PPI) on Friday.註釋
🟢Treasury yields rise as investors look to inflation data due in week ahead➡️U.S. Treasury yields were higher on Monday as investors looked ahead to key economic data due throughout the week, including fresh inflation insights.
註釋
🟢The US dollar begins the week's trading with a slight decline... Why?The US dollar index witnessed clear downward pressure during global market transactions on Monday, after losing about 1% during the past week, affected by weak US economic data, which reinforced speculation about the possibility that the US Federal Reserve will begin reducing interest rates sooner than expected, which is something that... It may negatively affect future US dollar trading.
註釋
On the technical chart, XAU/USD has hit resistance at $2,390, a level that caused a reversal in April. The possibility of improving risk appetite in global financial markets is still possible, supported by financial reporting season. If XAU/USD breaks above the $2,390 mark, it could be an important signal, signaling a new attack on historic highs near 2,450.
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