The strength in the US Dollar alongside the US Treasury bond yields remains the key underlying factor weighing on Gold price so far this week. Following a holiday-thinned subdued trading on Monday, the US Dollar bulls regained the upbeat momentum on risk-aversion, fuelled by resurfacing global growth fears.
Continued property markets and slowdown concerns from China accentuated recession fears, especially amid the ongoing surge in oil prices. Oil prices jumped to 10-month highs after Russia and Saudi Arabia announced the extension of voluntary oil supply cuts. Higher energy prices stoke up worries over inflation and expectations that the central banks may have to continue their tightening cycle to tame inflation, which could risk the global economy dipping into recession.
Gold buy 1926-1920
Target 1930
Target 1940
Target 1950
Sl 1915
Continued property markets and slowdown concerns from China accentuated recession fears, especially amid the ongoing surge in oil prices. Oil prices jumped to 10-month highs after Russia and Saudi Arabia announced the extension of voluntary oil supply cuts. Higher energy prices stoke up worries over inflation and expectations that the central banks may have to continue their tightening cycle to tame inflation, which could risk the global economy dipping into recession.
Gold buy 1926-1920
Target 1930
Target 1940
Target 1950
Sl 1915
Comment:
Today is news
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Market can fall to 1920 then it back to target
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Soo keep hold your trades
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20 pips running
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Enjoy
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Running in profit
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Keep hold