Menu

  • Gold Hits New Record High; US Dollar & Bond Yields Soar On 'Good'-Data, 'Trump-Trade'

    From zerohedge.com

    Soft' (Philly Fed & NAHB) and 'Hard' data (Retail Sales, Initial Claims) improved today but manufacturing production shit the bed... chart Ignoring the manufacturing slump, this data reinforced the 'no landing' narrative and pushed rate-cut expectations notably (hawkishly) lower... chart Additionally, The Trump Trade has taken hold of the narrative for now... chart Goldman's Chloe Garber told clients today that Polymarket is priced at 60/40, there is ~1.5% upside to 65/35 odds, and 4% downside to 50/50 odds. "I think there is a possibility this pair could go to the July highs before the election, but it would ... (full story)

Trump trade my ass. Gold is been breaking new highs for the past 5 years. Trump is behind in the polls so you know this is just hype. The reason for the new highs is the fed cut but nobody wants to give credit where credit is due. They all manipulate the narrative and everyone sees what they want to see.
Although the interest rate was effective, it is possible that gold will hit new highs in two weeks (the war will have an effect in a few weeks).
On Thursday evening XAUUSD continue buy run after US data given the new level of $2700. Since last 7 days daily candle of XAUUSD made higher highs candles amid geopolitical tensions coupled with dovish outlook of FED. From technical charts we could see inverted hammer candle formation in 1 hour time frame on Friday morning session. Short term trader may find entry on reversal side with SL 2715 and TP 2703-2701 price levels. The immediate support could be seen near 2702-2701 price zones. In higher time frame XAUUSD confirms bullish sentiments for coming weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd.png Size: 15 KB
  • New Comment
  •  Guest
  • | IP XX.XX.14.89
Join CC
  • Story Stats

  • Related Stories