Gold Intraday Trading Zone 31950—32333

Gold Forecast

Gold prices traded in range as the dollar eased on weak U.S. economic data. The US dollar declined as recent strong economic data eased concerns about the global economy, prompting investors to reduce safe-haven positions in the greenback.

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US Factory Orders Lower, Inventories Higher

It’s the forward-looking indicators right now that look the worst. This is why we think Euro$ #4 is still closer to its beginning than its end. Even though it may be entering its fifth quarter of existence here in Q2 2019, these things are long processes that take a lot of time to fully play out.

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When is the Trend not Your Friend?

The US dollar remained firm last week. The strongest of the majors was the Norwegian krone, and it rose less than 0.2% against the greenback. The volatility is continuing to compress.

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