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Fundamental overview
Gold prices are expected to hit another record high this year despite falling physical demand, consultancy Metals Focus said. For example, the Perth Mint reported that gold sales in May fell to their lowest level since March. Still, continued tensions between the US and China, conflicts in Ukraine and the Middle East, and the prospect of an impending rate cut could support gold prices.
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The ECB cut interest rates as expected on Thursday, but signaled it is not keen on further cuts anytime soon, while also adjusting its inflation forecast higher.
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✅GOLD SELL 2373/75
💧TP 2368
💧TP 2363
💧TP 2358
💧TP 2350
🔥SL 2386
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