Gold Daily Analysis: June 14, 2021 - US Economic Data is Good, Gold Plummets

Today's daily analysis of Gold on June 14, 2021, will describe the factors that cause the movement of Gold. Gold prices plummeted in market trading on Friday last weekend, this decline was caused by the good release of US economic data. The US economic data in question is the US UoM Consumer Sentiment Prelim data which was released higher than predicted. The data was released at 86.4 while the prediction was only 84.1 while the previous period was 82.9. Gold's decline is predicted to continue in today's Asian session of market trading, Gold's plunge was caused by the strengthening of the US Dollar. The decline in Gold is also due to the physical selling of Gold carried out by the markets because they have switched to other investment assets, especially stock indices. Gold's movement is still at its lowest daily level although markets in China and Australia are more cautious to enter the market while waiting for the next policy from the US Federal Reserve (Fed) which is scheduled to be scheduled next Wednesday. The greenback strengthened against several other major currencies in market trading last weekend, this was supported by good US economic data. Market participants are worried about the tapering plan that will be carried out by the Central Bank, ahead of the FOMC meeting on June 16-17. As we know, the Fed's quatitative easing (QE) value is currently US$120 Billion per month. This week, the focus of market participants is on the FOMC meeting which will be scheduled on Thursday morning, but the highlight is the statement of Central Bank Chairman Jerome Powell in a press conference, as well as an overview of interest rates. The perception in the market is growing that some analysts predict that there will be a tapering signal, but there are also others who predict that the Fed still has not changed its fiscal policy, because even though the inflation rate continues to increase and the level of public consumption has recovered.

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 1855.00, 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 14, 2021, where after the release of good US economic data, Gold plummeted to the lowest level. 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.