The gold price for XAU/USD has decreased for three consecutive days, indicating a return to a bearish market after a two-week hiatus.
Despite mixed sentiment, the US Dollar has remained stable while concerns about the US debt ceiling expiration and a possible recession have reinforced the bearish trend for XAU/USD. The expiration of the US debt ceiling, which has been pushed back until early next week, has further contributed to the XAU/USD downtrend.
However, optimism among US policymakers and hopes of a rebound in inflation in China have defied the bears. In my view, gold will continue to decline and target 1980USD/oz
Despite mixed sentiment, the US Dollar has remained stable while concerns about the US debt ceiling expiration and a possible recession have reinforced the bearish trend for XAU/USD. The expiration of the US debt ceiling, which has been pushed back until early next week, has further contributed to the XAU/USD downtrend.
However, optimism among US policymakers and hopes of a rebound in inflation in China have defied the bears. In my view, gold will continue to decline and target 1980USD/oz
Join the community group for the earliest support on short scalping and trading strategies!
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/DNATradingForex
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/DNATradingForex