GOLD - Strategy to buy Gold of 8/8, accumulate and buy strongly
The world gold price fell 2 USD/ounce, down to 1,934 USD/ounce. The precious metal was unable to keep its upward momentum in the US session (the night of 7.8) when from 1,934 USD/ounce to 1,942 USD/ounce. Gold's quick turnaround lost $12 per ounce, down to $1,930 before recovering slightly. Investors sell gold. The world's largest gold investment fund SPDR sold 2.31 tons of gold, holding gold to 903.69 tons.
The reason for the employment of investors who do not hold gold comes from the increase in US Treasury bond yields of 4.088%/year. At the same time, some comments from the US Federal Reserve (Fed) officials also made investors sell gold according to the technical trend.
The main US and China usage reports this week will be the key data for the market. My Consumer Price Index for July will be released in year two. It is expected to grow slightly from the June report, up 3.3% year-on-year. PPI in July is also expected to increase slightly compared to June.
The reason for the employment of investors who do not hold gold comes from the increase in US Treasury bond yields of 4.088%/year. At the same time, some comments from the US Federal Reserve (Fed) officials also made investors sell gold according to the technical trend.
The main US and China usage reports this week will be the key data for the market. My Consumer Price Index for July will be released in year two. It is expected to grow slightly from the June report, up 3.3% year-on-year. PPI in July is also expected to increase slightly compared to June.
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Running +20Pips ✅
✅ TP1: 1937
✅ TP2: 1941
🛑 SL: 1925