GOLD - in the bearish range
The market had a calm start to the trading week with prices showing minimal fluctuations within a limited range. However, the upcoming weekend is expected to be more eventful due to the release of several significant economic reports, including the June inflation data.
For gold to reverse its downward trend, it must surpass the $1,943 per ounce mark. On the other hand, if the gold price continues to stay below $1,943 per ounce, it is likely to drop significantly to $1,891 per ounce, or even further down to $1,830 per ounce.
For gold to reverse its downward trend, it must surpass the $1,943 per ounce mark. On the other hand, if the gold price continues to stay below $1,943 per ounce, it is likely to drop significantly to $1,891 per ounce, or even further down to $1,830 per ounce.
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the US Dollar Index (DXY) is under extreme pressure ahead of Wednesday’s Consumer Price Index (CPI) data
