The main news last weekend
Spot gold last week recorded its biggest weekly drop since March 2020.
Fed Brad is expected to raise rates in 2022.
Biden said they would review the two sides' infrastructure plans on Monday.
- Iran's hardline candidate, Lacey is elected president of Iran.
- Goldman Sachs expects Burundi Oil prices to average $80 per barrel in the third quarter.
Former Tesla CEO sells $270 million in stock.
- Bitcoin mining farm in Sichuan simultaneously cut off power.
Notable economic events and data today
- The listed interest rate of the one-year loan market from China to June 21.
- Fed President St. Louis Brad and Fed President Dallas Kaplan will deliver speeches on the economic outlook; In addition, Fed Williams will speak at the next day.
- European Central Bank President Lagarde opened the hearing of the European Parliament's Committee on Economic and Monetary Affairs.
Comment on Gold on June 21, 2021
Ending the last trading week, precious metal Gold had a strong decline week from 1903 to 1760 ($143) and closed the week with a strong bearish candle around 1764. With such a strong decrease like this. then it is highly likely that the precious metal Gold will still be under downward pressure at the beginning of this week.
- Switching to the daily chart time frame, we can see that this precious metal Gold has not shown any significant recovery yet but is trending to recover weakly from the 1760 support area. Personal opinion. In my opinion, this recovery will not be strong, but will only come around 1780-1785 and then come under downward pressure again. So in my opinion here we can establish a sell position with a safe target around 1760-1765.
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