Gold runs a parallel uptrend channel

Weaker-than-expected US economic data out on Monday, including PMI, supported gold.

Although gold prices could recover to $1,940 before potentially falling lower, “interest rates remain a significant drag

Comment:

The US will publish the June economic optimism index and the US Federal Reserve (Fed) will publish the Minutes of the June meeting. Minutes of in-depth assessment of the Fed's stance on monetary policy as well as predicting the outcome of future interest rate decisions. These two pieces of information have a great influence on the gold market.