GOLD - recovery candlestick repeats history
Precious metals fell due to pressure from the strong recovery of the dollar. The US Dollar Index, which measures the volatility of the greenback, with six major currencies rose 102.2 points.
Currently, investors are waiting for the latest statements from the Chairman of the US Federal Reserve (Fed) - Jerome Powell. He will provide a semi-annual monetary policy report to the National Assembly on June 22.
Markets will be closely watching Mr. Powell's remarks for fresh clues about when to raise rates. If he takes a "hawkish" stance, this could boost the dollar and US Treasury yields. However if he is more upbeat and does not provide new clues, this could weaken the greenback.
Currently, investors are waiting for the latest statements from the Chairman of the US Federal Reserve (Fed) - Jerome Powell. He will provide a semi-annual monetary policy report to the National Assembly on June 22.
Markets will be closely watching Mr. Powell's remarks for fresh clues about when to raise rates. If he takes a "hawkish" stance, this could boost the dollar and US Treasury yields. However if he is more upbeat and does not provide new clues, this could weaken the greenback.
Comment:
The US Dollar Index, which measures the volatility of the greenback, lost 0.43% in 6 major currencies (to 101,688 points).
Comment:
Gold trades sideways without fresh impetus, the greater the risk of a deeper sell-off.
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