GOLD Strategy for Profit Weekend

Strategy and analysis GOLD

Gold fell to a near 6-month low as on Thursday the US Treasury yields edged higher and the strong dollar delivered a one-of-a-kind punch to the bulls yellow metal.

Minutes of the Fed's July meeting showed midweek that most members of the rate-setting committee favored higher rates to curb inflation.

The prospect of higher US interest rates bodes ill for gold, as it increases the opportunity cost of investing in non-yielding assets. This perception has battered the yellow metal until 2023 and is expected to continue to weigh on gold until the Fed decides to start cutting rates.

הערה:

The main signal is to SELL around the price zone 1902 - 1905

Stoploss : 1912

TP : 1895
TP : 1890

עסקה פעילה:

There is no notable news today, so everyone trade gently to preserve profits

הערה:

Note: Nova wishes traders to manage their capital well
- Take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest