2023-06-18 18:04:00
YLG reveals the price of gold last week dropped. After the Fed announced to raise interest rates twice this year, then there was buying back to support the price rebound. But what is the direction this week? Check the details here.
Mr. Warut Rungkham, Director of Analysis Department of YLG Bullion and Futures Co., Ltd. revealed the direction.gold price this weekwith Nation Online whether moving in the frame orswing sideway down The trading volume may not be much. from foreign factors, which resulted from
– Buying and selling volume of gold may be lighter. Because on June 19, the stock exchange, the foreign exchange market and the US commodity market will be closed. To compensate for Juneteenth Day (Juneteenth) in the United States.
– Bank of England (BoE) may raise interest rates by 0.25% later this month The BoE decided to raise interest rates by 0.25% to 4.50% on May 12 for the 12th consecutive run in a bid to combat persistently high consumer prices.
The UK economy grew just 0.1% in the first quarter of 2023, but is still expected. Major central banks will continue to raise interest rates, pressuring the BoE to raise interest rates accordingly.
– Volume of buying and selling gold from China At the end of the week, it may be lighter because June 22-23 is a holiday on the occasion of The Dragon Boat Festival or Dragon Boat Festival.
However, even though the resultsFederal Reserve (Fed) meeting) Reported the policy interest rate expectations (dot plot) at the June Fed meeting.
This indicates that the Fed will raise interest rates two more times this year, but investors expect that. The Fed will raise interest rates just one more time this year before cutting rates next year. Gold prices therefore declined in the beginning. But there was a buying spoon to make the price recover back up.
advice
– fluctuating price following the price fell sharply There is buying pressure to push the price back up. Recommended to take risks, take short-term profitable positions. When the price rises, does not cross the upper resistance band at the resistance area
If the price cannot stand above the resistance of $ 1,965 per ounce. Sell position, cut loss if the price passes the above resistance, gradually close the position to take profit if the price does not fall below the support zone of 1,932-1,914 dollars per ounce.
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