Gold failing on several fronts!

#gold #forex #money #economy #inflation

My last post on 28 Jun 25 indicated that a return to higher prices was likely to be indicated at USD 3,415, with USD 3,375 being a critical point. Well I was out 1 buck and change as #gold turned down around USD 3,376.

Although the pull back is no real concern for long term holders it may be for those seeking to make a quick profit.

I now see two factors in play at the US level being the continued decline of the USD against other currencies and the recent “Big Beautiful Bill” that will throw more money at the stock market (and away from other investments). This “fix” will be relatively short-lived in the overall scheme of things but will push down the USD #gold price.

Australians face a double edged sword with a currency strengthening against the USD (although technically weakening overall) plus the recent Reserve Bank decision to hold interest rates, making the AUD slightly more attractive to others pushing up its comparative value to the USD.

Price predictions? Sorry nothing to offer USD wise, except lower highs and lower lows. Aussies may even get the opportunity to buy at spot plus commissions below AUD 5,000.

See latest Gold Daily Gann Swing below.