- There are no important economic data from the United States released today. Gold price is expected to move in a narrow range. Markets will be "cautious" ahead of next week's Fed meeting. The market is now fully pricing in the possibility that the Fed will raise rates another 25 basis points on July 26 after pausing in June. While we expect July to be the Fed's last rate hike in this cycle, we don't think the Fed is ready to signal that change. Instead, policymakers seem more comfortable maintaining a hawkish stance at the moment.
- On the technical side.
Gold, after rising to 1987, was under downward pressure again. However, the uptrend of gold is still dominant. During the Eurasian session, the 1963-1967 support zone can still be considered to buy gold.
- On the technical side.
Gold, after rising to 1987, was under downward pressure again. However, the uptrend of gold is still dominant. During the Eurasian session, the 1963-1967 support zone can still be considered to buy gold.