Gold Daily Anallisa : June 21, 2021 - Interest Rates Will Rise, Gold Plummets

Today's Gold daily analysis on June 21, 2021, will explain and discuss the main causes that make the price of Gold plummet. Gold prices moved again to continue their decline in market trading on Friday last weekend, the plunge in gold prices was caused by the approaching opportunity of the Fed's interest rate hike. For today's gold market movement in the Asian session, it is expected to continue its decline. The strengthening effect of the US Dollar is the main cause of the plunge in Gold prices. The magnitude of the decline in gold prices is related to the reduction in bond purchases by the Fed and interest rate hikes. The decline in Gold also makes many people precarious and the price of Gold today will have a further decline. The US dollar continued to strengthen after the hawkish announcement by the Federal Reserve or the FOMC meeting early Thursday which caused other pairs to decline and commodities such as Gold also declined. The good US economic data that has been released shows that the value of the US dollar currency is strengthening. With this data, Gold has reached difficulty to rise to the highest level, because it is still in a bearish trend. The inflation rate is predicted to continue to rise in the future due to the FOMC meeting that has released its monetary policy. The impact of the increase in inflation rate has made the value of long-term bonds / yields soar while the interest of market participants in gold ownership is decreasing. This influenced investors to choose bonds over Gold. The Fed's next agenda will be a reduction in bond purchases and there will be an increase in the benchmark interest rate (Federal Funds Rate / FFR) which will occur faster in 2023. "Jerome Powell" also said that accommodative policies will still continue. In addition, the Fed is also paying attention to the increase in employment and weekly Jobless Claims.

Gold Analysis Daily Prediction

Today's prediction on the EMAS pair is expected to continue its decline, and the recommended OP (Open Position) is SELL at the level of 1765.00, with a Target Profit (TP) of 5-10 points and a Stop Loss of 3-5 points. This the daily analysis of Gold on June 21, 2021, the price of Gold plummeted due to the approaching opportunity of the Fed's interest rate hike. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.