gold priceMovement in the range of 1945-1960 dollars, market trends.gold Sideways will release June retail sales tonight.
analysisgold price trendHua Seng Heng Gold Futures Co., Ltd. reported that gold priceMovement in the range of 1945-1960 dollars, the market closed stable. and the dollar remained stable. After the weakest in more than a year, while China’s second quarter GDP rose 6.3%, lower than market expectations. It was affected by sluggish demand from within and outside the country. As a result, JPMorgan cut its forecast for China’s economic growth to 5% this year from 5.5% previously, while SPDR funds sold 1.73 tonnes of gold.
Economic numbers to follow
Tonight, the US will release June retail sales. The market is expected to increase 0.5% from a 0.3% increase in May and industrial production in June. The market is expected to increase 0.0% from a 0.2% decline in May.
gold price trend
Spot gold price trends are expected to move within the range of $ 1,940-1,960. Be careful of gold selling pressure if US retail sales in June come out well. Short-term support is $ 1,940 and $ 1,935, while there is resistance $ 1,960 and 1,967. Dollar at $ 1,967 resistance is a key resistance, which is the peak of gold prices on June 16, still not expected to go up.
world gold price
Support $1,940 and $1,935 Resistance $1,960 and $1,967
96.5% gold bar price
Support 31,900 and 31,850 baht Resistance 32,100 and 32,150 baht
GOLD FUTURES (GF10Q23)
Support 32,170 and 32,110 baht Resistance 32,310 and 32,390 baht
investment advice
Recommend a speculative buy around the price of $ 1,940 (GF 32,170 baht) with a sell stop loss point at $ 1,935 (GF 32,110 baht).
GOLD ONLINE FUTURES (GOU23)
Support $1,965 and $1,960 Resistance $1,985 and $1,992
investment advice
Recommend a speculative buy at $1,965 with a stop loss at $1,960.
USD FUTURES (USDU23)
Support 34 baht Resistance 34.70 baht
investment advice
The baht depreciated slightly. After the dollar recovered In the short term, the baht is expected to depreciate within a limited range, with the USDU23 contract having resistance at 34.70 baht/dollar while having support at 34 baht/dollar.
SILVER ONLINE FUTURES (SVFU23)
Support $24.80 Resistance $25.60
investment advice
The price of silver continued to rise from the previous week. It is expected that the price of silver metal will continue to rise. By opening a long position, the SVFU23 contract is at $ 24.80, which has support at $ 24.80 and resistance at $ 25.60.
2023-07-18 04:05:00
#Gold #price #trend #July #Sideways
