News background: G7 embargo to ban Russian gold imports
On June 26, US President Joe Biden announced that the G7 countries (USA, UK, Germany, Canada, France, Italy and Japan) would impose a ban on the import of Russian gold. According to US Secretary of State Anthony Blinken, the refusal of the G7 countries to import gold from Russia will deprive it of about $19 billion.
The EU has said it is ready to consider joining the G7 in a ban on Russian gold imports. The head of the European Council, Charles Michel, stressed that the restrictions should be studied for damage to the EU economy.
This news background is expected to slightly support metal prices, but one should not expect strong growth due to such sanctions. With or without this news, precious metals are expected to rise in the medium range.
Technical Analysis: BUY-priority
The price of the instrument is in a large corridor of 1810$ - 1875$. Gold is more tended to grow, however, at the beginning of the week, a rollback down to around 1820$ should be expected. Apparently, the mood of buyers will increase, but in the event of a rollback to 1810$ and a "long pause" for at this level, such a scenario would result in a drop below 1800$.
For further growth (priority scenario), buyers need to overcome the level of 1855$, which acts as a small obstacle on the way to 1875$. Upside potential is now limited by the level of 1900$.
🔥GOLD Forecast Results🔥
⭐️GOLD: forecast for May 30-Jun 3 👉 +1900 points✅:
⭐️GOLD: forecast for Jun 6-Jun 10 👉 +2900 points✅:
⭐️GOLD: forecast for Jun 20-Jun 24 👉 +1800 points✅:
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👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
On June 26, US President Joe Biden announced that the G7 countries (USA, UK, Germany, Canada, France, Italy and Japan) would impose a ban on the import of Russian gold. According to US Secretary of State Anthony Blinken, the refusal of the G7 countries to import gold from Russia will deprive it of about $19 billion.
The EU has said it is ready to consider joining the G7 in a ban on Russian gold imports. The head of the European Council, Charles Michel, stressed that the restrictions should be studied for damage to the EU economy.
This news background is expected to slightly support metal prices, but one should not expect strong growth due to such sanctions. With or without this news, precious metals are expected to rise in the medium range.
Technical Analysis: BUY-priority
The price of the instrument is in a large corridor of 1810$ - 1875$. Gold is more tended to grow, however, at the beginning of the week, a rollback down to around 1820$ should be expected. Apparently, the mood of buyers will increase, but in the event of a rollback to 1810$ and a "long pause" for at this level, such a scenario would result in a drop below 1800$.
For further growth (priority scenario), buyers need to overcome the level of 1855$, which acts as a small obstacle on the way to 1875$. Upside potential is now limited by the level of 1900$.
🔥GOLD Forecast Results🔥
⭐️GOLD: forecast for May 30-Jun 3 👉 +1900 points✅:
⭐️GOLD: forecast for Jun 6-Jun 10 👉 +2900 points✅:
⭐️GOLD: forecast for Jun 20-Jun 24 👉 +1800 points✅:
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
From the point of view of investment prospects, namely, the purchase of gold is only getting stronger.