OTCPK:KRCLF - Post by User
Post by
horace5on Jun 30, 2022 10:53pm
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Post# 34795639
Q2 final day: GDX down 3.73% - KRRGF down 3.72%
Q2 final day: GDX down 3.73% - KRRGF down 3.72% Gold threatening to test support at $1,800.
(June 30, 2022) “Gold price (XAU/USD) is establishing below $1,810.00 after facing a steep fall while attempting a bullish reversal on Thursday. The precious metal is hovering near a fresh two-week low at $1,802.78 and is aiming to balance below the psychological support of $1,800.00. The release of the US core Personal Consumption Expenditures (PCE) Price Index at 4.7% has bolstered the odds of one more 75 basis points (bps) interest rate hike by the Federal Reserve (Fed) in July.
The US core PCE Price Index remained in line with the estimates but lower than the prior release of 4.9%. This indicates that the elevation of interest rates by the Fed to 1.50-1.75% in its past three monetary policy meetings has failed to make a substantial change in the price levels.”
[Full article]
https://www.fxstreet.com/news/gold-price-forecast-xau-usd-sees-a-bumpy-ride-below-1-800-us-ism-pmi-eyed-202206302200