ANALYSIS
NQ100 Finds Support from PPIApr 14
It’s Hard for Ounce Gold To Protect the Reactions After FED
The day we left behind, after the July meeting of the Federal Open Market Committee (FOMC) in which interest rates were increased by 75 basis points, we saw that ounce gold recovered when the dollar faced profit realizations. However, the Committee's messages regarding the neutralization of the dollar's real yield and further tightening make it impossible for an ounce of gold to encounter a permanent demand. At this point, the 200-period exponential moving average, which is the value of 1760, is extremely important. As long as the 1760 level is defended as a resistance, the risk of descending to the psychological 1700 behind 1722 in the yellow metal will also be preserved.
