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GOLD SLUMPS BELOW $3,340, IS THIS THE END OF THE RALLY?
In a shocking twist, gold prices dipped below $3,340 per ounce this week, poised to suffer a rare setback for the first time in THREE WEEKS! Economists are buzzing as startlingly strong US economic data sparks fears of NO INTEREST RATE CUT in sight! What does this mean for gold?
Unbelievably, June’s retail sales smashed forecasts, while a major economic indicator plummeted to a three-month LOW. This rock-solid economic performance raises eyebrows, proving the US economy is more resilient than a cockroach in a nuclear apocalypse, even amid intense trade tensions!
In the aftermath, Adriana Kugler from the Federal Reserve’s elite board warns that keeping interest rates steady is the prudent move for now. But hold up! Mary Daly, head of the Federal Reserve Bank of San Francisco, still believes TWO interest rate cuts are coming before the year’s out! Which one is right? It’s a financial showdown!
TURBULENCE IN THE MARKET!
As if that’s not enough, brace yourselves—U.S. President Donald Trump is unleashing a storm of tariffs on OVER 150 trading partners! This shocking announcement is sending shockwaves through global trade, escalating geopolitical tensions and elevating the allure of gold as a sacred shield against chaos and instability. Gold is not just a shiny rock; it’s your ticket to wealth preservation in these uncertain times!
BATTLEGROUND CHARTS: XAU/USD AT A CROSSROADS!
On the battlefield of the markets, XAU/USD is locked in a fierce fight around $3,344 on the H4 chart! The stakes are high, with this crucial landmark extending downward to $3,312. Today’s retest of $3,344 sets the stage for potential fireworks!
- BULLISH ALERT! A breakout above $3,344 could unleash a massive surge towards $3,384!
- BEARISH WARNING! If prices crash through, we could plummet to a chilling $3,235!
The MACD indicator is giving a thumbs-up, with its signal line rocketing above zero!
On the H1 chart, the market just completed a dramatic drop to $3,310 before staging a heroic rebound to $3,344! But which way will it go next? The energy is tense, with potential for gains OR devastating losses!
- UPSIDES ABOUND! Breakout? Up to $3,384 in our sights!
- DOWNSIDE DANGER! A fall could send us spiraling to $3,235!
Even the Stochastic oscillator is in the hunt, trending dangerously upward!
THE STAKES HAVE NEVER BEEN HIGHER!
Gold may be facing short-term bearish pressure from the unyielding US economic data, but don’t be fooled! Long-term demand looms large thanks to trade uncertainties and geopolitical risks. Traders, keep your eyes peeled on those key technical levels, because explosive breakout opportunities are just around the corner!
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