Spot Gold Ended Lower By 0.6 Percent In The Week Gone By As Boost In Markets Risk Appetite

Spot Gold Ended Lower By 0.6 Percent In The Week Gone By As Boost In Markets Risk Appetite

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  • Weekly Signals
  • 2021, 26 July

Brief:

Spot Gold ended lower by 0.6 percent in the week gone by as boost in markets risk appetite, revival in Oil prices and bets on the inflation being transitory element dented appeal for the yellow metal. The losses for Gold were limited as returns on US Treasuries eased after the auction of $16 billion in 10-year TIPS was bid at record low.

Also, the European Central Bank keeping their stance accommodative and interest rates at record low levels in the recent meet in order to support their economy and boost inflation was also supportive for Gold. Weaker than expected US economic data in the week gone by shifts all the focus on the U.S. Federal Reserve meeting scheduled in the coming weeks for hints on their monetary approach ahead

Suggestion:

Buy above 1755 for 1915 and 1960

Else

Sell below 1755 for 1675 and 1585

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