Will the gold price of the weekend end above 1970?

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GOLDEN INFORMATION:
The price of gold is set to make the biggest weekly gain in three months due to weaker United States inflation indicators. The US Dollar has been negatively impacted by these dismal indicators, which has been beneficial for the gold market. The US Producer Price Index (PPI) has come in at 0.1% YoY for June, lower than the expected 0.4% and 0.9% in the previous month, while the Core PPI has eased to 2.4% YoY from the previous 2.8% reading and the estimated 2.6%. Earlier this week, the US Consumer Price Index (CPI) also dropped to 3.0% YoY for June instead of the anticipated 3.1% and the May report of 4.0%, causing a decline in the US Dollar, leading to an increase in the XAU/USD price. Further information shows that the Core CPI has also softened to 4.8% yearly in June, compared to the estimated 5.0% and previous 5.3% readings.

Personal comments NOVA:

SET UP GOLD PRICE:
SELL GOLD zone: $1965 - $1967 SL $1975
TP 1: $1950
TP2: $1940


Technical analysis:
Based on technical indicators EMA 34, EMA 89 along with strong resistance zone 1970, the price will have a slight correction.

NOTE:
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

Comentário:

price is still continuing sideways in the price range $1950 - $1965