Gold is still in a downtrend - 07/08/2023

Despite the rebound on Friday, gold has not escaped the week of losses and may be struggling to rally as inflation remains a significant concern and could force the Fed to raise interest rates after the summer. .

Gold is still in a downtrend, we wait to sell gold at Keylevel

Comment:

The US job market is slowly cooling down and that's exactly what the Fed wants to see. The market is thinking interest rates have peaked and the Fed's next move is to lower rates, which should drive gold up in the short term