Gold has tested the weekly low 2306-2308 because of hawkish Fed’s comment

Gold made a bounce from 2318 to 2333-2334 after the news of Crimea attack, however there was not any response from Russia.

Gold is dropping to test the 2306-2309 because there was a hawkish “not cutting rate” comment by a key Fed’s official.

However, the soft U.S inflation report and the recent Ukraine’s Crimea attack are supporting gold to make further drop. If Russian makes a strong response by attacking the U.S to response to Crimea attack, gold will start a new up trend.

Gold short term trend is down , any correction to 2333-2334 or 2339-2341 is a good chance to SELL gold. Gold may break the 2306-2309 zone if the market expects that the Russia does not make any response.

Bellow is $2,500 profit Gold Buy Signal 2316.5 on June 4, 2024.

Gold Buy Signal 2316.5 on June 4, 2024

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