What to Expect from GOLD during U.S. Session?; June 08, 2022

What to Expect from Gold during U.S. Session:

Today U.S. session will remain light as U.S. will release only Wholesale Inventories data at 1400 GMT/1930 IST. It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories. There are 2 versions of this indicator released about a week apart – Preliminary and Final. ‘Actual’ less than ‘Forecast’ is good for currency.

Let’s see how Gold has reacted during the previous data release:

May 09:

April 08:

Technical View:

XAU/USD (Gold):

  • Gold moves directionless and consolidates around $1,850 mark.
  • The pair made intraday high at $1,853 and Low at $1,845 mark.
  • A day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $1,852 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,846 on H1 chart will test further supports.
$1,846 $1,852
$1,842 $1,858
$1,838 $1,862
$$1,832 $1,868
$1,826 $1,872


Take a look and do trade wisely!
Good Luck