Gold prices declined today morning trying to break support area $1920, if gold succeeds in that, gold will target the $1900 level on the short term

1. 10
Jul.
2023

2. 1893
Gold prices declined today morning trying to break support area $1920, if gold succeed
in that, gold will target $1900 level on the short term to continue its sideways that gold
entered and will breakout from it by breaking $1900 level to target support area
$1870, but if gold breach resistance area $1935 and be stable above it, gold will enter
uptrend and will target resistance area $1950 on the intermediate term.
Gold prices declined this morning before the US inflation data later in the week, which
will determine the next path of interest rates.
1902
1950
1935
1920
Gold declines, trying to break support area of $1920
227.81
208.69
199.35
170.87
Published on Monday, June 26, 2023 at 1:12 PM (UAE time)

3. European stock markets traded lower on
Monday, on weak Chinese inflation data that
raised concerns about the health of the
world's second-largest economy. The DAX
index in Germany traded 0.4% lower, the CAC
40 in France fell 0.4%, while the FTSE 100 in
the U.K. traded 0.1% lower at 03:30 ET
(07:30 GMT). Consumer prices in China
slipped 0.2% on the month of June, and the
producer prices fell 5.4% on the year in June.
These numbers suggest Beijing faces a
serious challenge to avoid an outright
deflationary spiral.
European stocks drift lower, dollar rebounds
On the other hand, the US dollar gained in early hours, recovering some of Friday’s sharp
losses after the weak payrolls release. At 03:10 ET (07:10 GMT), the dollar index, which
tracks the greenback against a basket of six other currencies, traded 0.1% higher to
102.020, after falling around 1% on Friday.
Producer prices in China slumped again
in June, according to figures released on
Monday by the National Bureau of
Statistics, fueling concerns about
deflation. Producer price inflation fell
5.4% year-on-year in June from 4.6% a
month earlier and versus expectations of
a 5% drop. This marked the worse
decline since December 2015.
Meanwhile, the consumer price index
slowed to 0% in June year-on-year from
0.2% in May.
China producer prices
slump in June
Oil eases ahead of
the release of
important data
Oil prices dipped in Asian trade on
Monday as investors tread cautiously
ahead of fresh economic data from top
consumers the United States and China
this week, though expected crude supply
cuts from Saudi Arabia and Russia
limited losses. Brent crude futures fell 55
cents, or 0.7%, to $77.92 a barrel by
06:30 GMT, and U.S. West Texas
Intermediate crude was at $73.31 a
barrel, also down 55 cents, or 0.7%.