- The golden forecast remains widely with several corrective sailboats due to truce.
- Keeping and watching the Fed-I-looking finds at the Gold’s post office.
- Participants in the market are looking at key American data and the second round of Pismo’s testimony.
Gold prices are consolidated above the 3,300 dollar marker after they retired to 2-week low earlier this week. Although Israel-Iran Caeafire was relieved of some geopolitical concerns, the durability of peace remains uncertain. Moreover, the shuffling of the chances for American monetary policy continues to keep market participants on the toes.
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Initial optimism after the announcement of President Trump “Complete and Total Cleverness” has encouraged risk flows and pressing secure assets, including gold. However, conflicting development and rocket launch on both sides of dealing with doubt of the stability of the truce. The Geopolitical Risk of Premium can keep the yellow metal supported despite the mitigation of the demand for safe assets.
On the other hand, the American dollar tried a significant recovery on the back of the stream of the Povel’s Hakish notes. In his testimony, Powell warned that tariffs could re-set inflation, and Fed did not rush to reduce the rates. Nevertheless, markets retain their poppaths, and Futures price 50-BPS cut to the end of 2025. And 20% chance of a move already in July.
Gold is sensitive to these variable expectations of monetary policy. Lower interest rates increase demand for non-yield, such as gold, due to lower detention options. Now, traders await the second round of Powell’s testimony and critical American data, including K1 GDP and the Core of the PCE index. The next meaningful gold moves depends on these factors.
Golden Technical Forecast: Mild bear pressure near 200ths
The price of gold has found decent support below $ 3,300 and refused back. The price managed to cross over 200 SMA periods on a four-room table. However, it is still under 20-periods and the 50-period of the SMAS. Sales pressure is not yet elevated. Lime below $ 3,300 support can run the price according to the next support zone to $ 3,250. The RSI level below 50.0 also supports a treasure bear view.
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Alternatively, the bound move above $ 3,350 can file an intensive action of BIL, leading up to $ 3,400, and followed $ 3,450, and at the end of all the time around $ 3,500.
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