Gold (XAUUSD) trading commentary for the week of 6/3-10/3/2023

world gold price closed the last session of the week at 1,857 USD/ounce, a sharp increase of 20 USD compared to the same time price of 1,837 USD/ounce the previous day.

Last night, the world gold price fluctuated in the context of many speculations that in March 2022, the US will not raise interest rates beyond the market's expectation of 0.25 percentage points.

Immediately, the money market reacted. The USD depreciated against many other currencies, creating impetus for the gold price to go up today.

On the other hand, the Institute of Supply Management (USA) announced that the non-manufacturing index for February 2023 reached 55.1 points, exceeding the market's expectation of 54.5 points, showing the economic status of the US. pretty solid

Support Level: 1,825.90 1,812.20 1,803.00

Resistance: 1,863.70 1,877.50

Recommendations for trading gold:

Buy soup at the price range 1824 - 1826

Stop Loss: 1821

Take profit 1: 1835
Take profit 2:1840
Take profit 3: 1850

Canh sell at the price range 1862 - 1863

Stop Loss: 1869

Take profit 1: 1850
Take profit 2:1845
Take profit 3: 1840

Note: Always set TP and SL in all trading cases
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