Trading session on Wednesday has developed unsuccessfully for precious metals prices. Gold at the end of the day is gone from the local Haya $ 1531 and, having lost $ 28, closed trading at $ 1503. In recent weeks the financial markets dominated by the apparent reluctance of traders to take risks, which was due to lingering concerns over the prospects for global economic growth, developments in the Middle East, as well as doubts about the ability of the US and China to overcome trade differences and sign an agreement to end the trade war.
Such a background has led to increased demand for protective assets, whereby the pair XAUUSD tried several times to gain a foothold above $ 1,550 per ounce. Yesterday's decline in gold followed the commentary Trump that deal with China can be concluded much earlier than everyone expects. These statements provoked US stock indexes rally "bullish", as well as the yield of Treasury Treasuries than immediately took advantage of the dollar buyers.
Thus, it is a local strengthening of the dollar prompted traders to take time off from a "long" position on XAUUSD. However, the auction on Thursday gold is growing again. Today, the focus of traders final estimate of US GDP for the 2nd quarter, as well as data on inflation, which will be released on Friday. Weak data will increase the likelihood of further easing of US monetary policy, which could have a good fundamental support throughout the precious metals market.
XAUUSD BuyStop 1510 TP 1535 SL 1503
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