Gold rebounded strongly regardless of nonfarm news

8 thg 7GOLD is currently completely on the trend of the BUY side, but in terms of price model, I see that there is a reaction of 2 parallel cumulative peaks, most likely today or tomorrow. There will be a slight correction back to the 237x area. For me today, I will watch sell based on RSI over buying in Frames H1 and H4.
For today's plan, please refer to Canh Sell GOLD around 2384>2387
SL 2389
City 2378>2370
I will wait to BUY GOLD when there is a reaction below the 237x area, so for now everyone just watch for Sell.
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Optimism is protecting the arena gold marketplace. Disappointing monetary data, highlighted via way of means of a slowdown withinside the US exertions marketplace, are growing marketplace expectancies that the Federal Reserve will decrease hobby costs in September. According to CME`s FedWatch Tool, The marketplace sees a almost 80% threat that hobby costs may be reduce after the summer time season break.

Independent metals dealer Tai Wong primarily based totally in New York (USA), stated bulls are aiming for a state of affairs in which gold charges will go back to an all-time excessive of $2,450/ounce, if the Fed begins offevolved making public hints (approximately while to reduce hobby costs) in September 2024.

Senior marketplace analyst Jim Wyckoff at Kitco Metals stated that the gold marketplace is being supported via way of means of "good buy hunting" shopping for sports of investors, whilst crude oil charges growth and the USD is weaker. additionally creates upward momentum for gold charges. This professional predicts that gold charges will probably flow sideways at present day tiers or lower from now till the stop of the summer time season.

In the instant future, withinside the week of July 8-12, spot gold charges face an crucial mental barrier of 2,four hundred USD/ounce. If this threshold isn't always exceeded, profit-taking strain and short-promoting sports might also additionally growth, inflicting gold to regulate again down.