Gold price (XAU/USD) has retreated after a solid recovery to nearly $1,930.00 in the early New York session. The precious metal has faced selling pressure, although the weekly jobless claims ending June 16 have landed marginally higher than expectations. The US Department of Labor reported that first-time jobless claims were 264K, similar to their prior release, while the street anticipated a figure of 260K.
S&P500 futures have recovered some losses. However, a weak opening is broadly expected. Investors have underpinned the risk-aversion theme as more rate hikes by the Federal Reserve (Fed) could accelerate fears of a recession in the United States.
Jobless claims have remained higher than expectations for the fourth time. Higher jobless claims indicate that labor market conditions are critically losing their appeal. Easing US labor market conditions could propel the chances of only one interest rate hike by year-end.
The US Dollar Index (DXY) has rebounded to near day’s high around 102.16 as investors are providing more value to hawkish testimony by Fed chair Jerome Powell against dovish commentary by Atlanta Fed President Raphael Bostic and Chicago Fed Bank President Austan Goolsbee. The 10-year US Treasury yields have climbed above 3.75%.
Gold Technical Analysis
Gold Price wants to deliver a break below the Descending Triangle chart pattern formed on a two-hour scale. The downward-sloping trendline of the aforementioned chart pattern is plotted from June 02 high at $1,983.00, while the horizontal support is placed from May 30 low at $1,932.12. The 200-period Exponential Moving Average (EMA) at $1,953.62 acts as a barricade for the Gold bulls. Horizontal resistance is plotted from May 05 low around $2,000.00.
The Relative Strength Index (RSI) (14) oscillates in the bearish range of 20.00-40.00, indicating that the downside momentum has been triggered.
This Post Has 46 Comments
Pretty! This was a really wonderful post. Thank you for your provided information.
I am really enjoying the theme/design of your blog. Do you ever run into any web browser compatibility issues? A handful of my blog readers have complained about my blog not operating correctly in Explorer but looks great in Firefox. Do you have any recommendations to help fix this problem?
I believe this internet site has some very superb information for everyone : D.
Would you be considering exchanging links?
Tonic Greens: An Overview Introducing Tonic Greens, an innovative immune support supplement meticulously crafted with potent antioxidants, essential minerals, and vital vitamins.
Hey there! This is kind of off topic but I need some guidance from an established blog. Is it very difficult to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about making my own but I’m not sure where to start. Do you have any points or suggestions? Many thanks
Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I’d prefer to use some with the content on my blog whether you don’t mind. Natually I’ll give you a link on your web blog. Thanks for sharing.
I’d always want to be update on new posts on this internet site, saved to favorites! .
What is ProvaDent? ProvaDent is a cutting-edge dental support supplement crafted by Adem Naturals. It integrates the BioFresh™ Clean Complex and a sophisticated oral probiotic complex to rejuvenate the oral microbiome.
I like what you guys are up also. Such smart work and reporting! Carry on the excellent works guys I have incorporated you guys to my blogroll. I think it’ll improve the value of my website 🙂
Thanks for all your efforts that you have put in this. very interesting information.
I am extremely inspired along with your writing skills as neatly as with the layout for your weblog. Is this a paid subject matter or did you customize it yourself? Either way stay up the excellent quality writing, it is rare to look a great blog like this one these days..
whoah this weblog is excellent i really like studying your articles. Keep up the great paintings! You recognize, lots of people are hunting around for this information, you could aid them greatly.
Some genuinely good information, Glad I observed this.
Perfect work you have done, this internet site is really cool with superb information.
I’m not sure why but this weblog is loading incredibly slow for me. Is anyone else having this problem or is it a issue on my end? I’ll check back later on and see if the problem still exists.
You have brought up a very superb points, thanks for the post.
Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!
Hello there! Quick question that’s totally off topic. Do you know how to make your site mobile friendly? My weblog looks weird when browsing from my apple iphone. I’m trying to find a theme or plugin that might be able to correct this problem. If you have any recommendations, please share. Many thanks!
About GlucoTrust. GlucoTrust is a natural supplement that promotes normal blood sugar levels.
Heya i am for the first time here. I came across this board and I find It really useful & it helped me out much. I hope to give something back and aid others like you aided me.
What Is Sumatra Slim Belly Tonic? Sumatra Slim Belly Tonic is a natural formula that supports healthy weight loss.
Very interesting information!Perfect just what I was looking for!
obviously like your web-site however you have to check the spelling on several of your posts. Several of them are rife with spelling issues and I in finding it very bothersome to inform the reality on the other hand I’ll certainly come again again.
Very well written story. It will be beneficial to anyone who utilizes it, as well as me. Keep up the good work – can’r wait to read more posts.
What is ZenCortex? ZenCortex is a cutting-edge dietary supplement meticulously crafted to provide essential nutrients that support and enhance healthy hearing
FitSpresso: What Is It? FitSpresso is a natural weight loss aid that targets the root cause of excess body fat.
The next time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about something that you could fix if you werent too busy looking for attention.
Great post. I was checking continuously this blog and I’m impressed! Extremely useful information particularly the last part 🙂 I care for such info a lot. I was looking for this particular information for a long time. Thank you and good luck.
It?¦s really a nice and useful piece of info. I am glad that you just shared this useful info with us. Please stay us informed like this. Thank you for sharing.
I carry on listening to the news broadcast talk about receiving boundless online grant applications so I have been looking around for the best site to get one. Could you tell me please, where could i acquire some?
You can definitely see your expertise in the work you write. The world hopes for even more passionate writers like you who are not afraid to say how they believe. Always follow your heart.
I definitely wanted to develop a quick word to be able to say thanks to you for all of the amazing steps you are giving on this website. My particularly long internet research has at the end been compensated with brilliant facts and techniques to exchange with my great friends. I would admit that we website visitors actually are extremely blessed to dwell in a perfect community with many brilliant professionals with valuable suggestions. I feel really lucky to have discovered your entire web site and look forward to so many more awesome moments reading here. Thanks a lot once more for everything.
Pretty part of content. I simply stumbled upon your web site and in accession capital to say that I get actually loved account your blog posts. Any way I’ll be subscribing on your augment and even I achievement you get right of entry to consistently quickly.
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
I take pleasure in, cause I discovered exactly what I used to be taking a look for. You have ended my 4 day lengthy hunt! God Bless you man. Have a great day. Bye
soy una hermosa trans que quiere ser el adult chat with naked girls de tu diversion
Great V I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs and related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your client to communicate. Excellent task..
I don’t even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you are going to a famous blogger if you aren’t already 😉 Cheers!
I’m still learning from you, but I’m trying to reach my goals. I definitely enjoy reading everything that is posted on your site.Keep the information coming. I liked it!
Thank you for another great post. Where else may just anyone get that type of info in such an ideal manner of writing? I’ve a presentation next week, and I’m at the look for such information.
The core of your writing whilst sounding reasonable in the beginning, did not settle very well with me personally after some time. Someplace throughout the sentences you actually managed to make me a believer unfortunately just for a short while. I still have a problem with your leaps in logic and one might do well to fill in all those gaps. If you actually can accomplish that, I could definitely be amazed.
Excellent beat ! I wish to apprentice even as you amend your web site, how could i subscribe for a weblog web site? The account aided me a applicable deal. I had been a little bit acquainted of this your broadcast offered bright transparent idea
Wow, superb blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your website is wonderful, as well as the content!
Some truly marvelous work on behalf of the owner of this internet site, utterly great content.
I really appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again!