Gold price today 7/11: The risk of loss lurks for investors

Gold prices fell this morning, the dollar fell after comments from Fed officials reinforced market expectations that the US Central Bank is nearing the end of its tightening policy cycle.

Gold prices were mostly unchanged with spot gold dropping $0.9 to $1,925.1 an ounce.

However, this week is expected to be an exciting week with many important economic reports to be released, including June inflation data. Consumer price index is expected to increase by 5% YoY. last year, compared with a 5.3% increase in the May report.

Trading plan: SELL GOLD price range: 1933 - 1935

Stop Loss : 1938

Take Profit : 1925
Take Profit : 1915
Take Profit : 1905

Note: TP, SL full to be safe and win the market!

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Ole Hansen, head of commodity strategy at Saxo Bank, is also bullish on gold as markets end the week above key resistance, even as US 10-year yields push above 4%. .

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Adrian Day, who has been neutral on gold lately, sees the precious metal as potentially bullish on weak jobs data, supporting growing expectations that the Fed will quickly end the cycle. tightening period.

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If interest rates continue to rise as predicted by the market, it could pose difficulties for American consumers and slow down sales, weakening demand for precious metals in the next 12 months.

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Last week's jobs report showed the US economy added the fewest jobs in two and a half years in June, but continued strong wage growth suggests labor market conditions remain tight.