Current trend after gold drop, opportunity or challenge?
The world precious metals continued to be under selling pressure as recession fears subsided as the latest report showed that the US economy grew better than expected. Specifically, adjusted GDP increased from 1.3% to 2.0%, while personal consumption increased from 3.8% to 4.2%. In the midst of that setback, US industrial aid applications fell 26,000 to 239,000, down from an 18-month high and the biggest drop since 2021.
The resilience of the US economy is forcing the market to re-evaluate monetary policy developments for the rest of this year. That, according to leading precious metals research consulting firm Metals Focus, will have a negative impact on the precious metal.
According to Metals Focus, recent economic data combined with core usage (excluding real prices and volatile energy) remains high, prompting financial markets to re-evaluate both the development of the economy and the future. US economy and interest rates in the future. All of this caused a correction to the gold price.
XAUUSD BUY 1905 - 1907💯💯
✅ TP1: 1912
✅ TP2: 1918
✅ TP3: 1925
🛑 SL: 1898
The resilience of the US economy is forcing the market to re-evaluate monetary policy developments for the rest of this year. That, according to leading precious metals research consulting firm Metals Focus, will have a negative impact on the precious metal.
According to Metals Focus, recent economic data combined with core usage (excluding real prices and volatile energy) remains high, prompting financial markets to re-evaluate both the development of the economy and the future. US economy and interest rates in the future. All of this caused a correction to the gold price.
XAUUSD BUY 1905 - 1907💯💯
✅ TP1: 1912
✅ TP2: 1918
✅ TP3: 1925
🛑 SL: 1898
