Description
⋅ gold price are again going up from 1760 again
why ?
- weaker nfp
- higher cpi (may be 7% this time)
- political failure on corona virus
- fed panic over 7% inflation
- investor fear of recession because of rate hike
since biden speech (people have more money in their pocket, infrastructure bill will not cause inflation ) it is going up everyday in nyc session
support 1760 (bottom of the trend)
1776
resistance 1795 (ten year old gold resistance)
1802
Comment
⋅ Comment
⋅ first resistance tested after retest of support 1776