Gold prices rose in early trading as it breached the $1925 resistance level, targeting the next resistance at $1937. If gold is able to break through $1937, prices could continue higher to $1960, but if it faces resistance at $1937 it may retreat to $1900. The rise in gold was attributed to weaker than expected US manufacturing data raising expectations the Fed may slow its pace of interest rate hikes to avoid recession.

1. 4
JUl
2023

2. 1910
Gold rose today morning as it breached $1925 area, where it may now target
resistance area at $1937, which if gold breached would lift prices higher towards
resistance area at $1960. Yet, if gold faces resistance near $1937 area, it will retreat to
$1900 level.
Gold prices rose today morning because of the weaker than expected US manufacturing
data that raised bets the Federal Reserve may have to slow its tightening pace to avoid
recession.
1920
1970
1937
1931
Gold soars after breaching resistance at $1925
228.50
209.30
199.92
171.37
Published on Monday, June 26, 2023 at 1:24 PM (UAE time)

3. European shares were mixed on Tuesday,
ahead of the start of second-quarter
earnings season and amid concerns about
the impact of central banks’ restrictive
policies on economic activities. The
sentiment was hit by China’s decision to
restrict critical mineral exports such as
gallium and germanium, as it added more
uncertainty around global trade relations.
The decision came ahead of U.S. Treasury
Secretary Yellen’s trip to Beijing on July 6-9
that aims at fixing relations with China.
European shares mixed as China restricts critical mineral exports
On the other hand, the dollar index was little changed in light trading, with U.S. markets
closed for the July 4 holiday. The dollar pared most of its advance on Monday after a
report showing U.S. manufacturing activity widened contraction in June to 46.0 from
46.9 in May. The main event this week will be Friday’s U.S. non-farm payrolls, while the
Fed will publish its June 13-14 meeting minutes Wednesday.
Germany's trade surplus fell unexpectedly
month on month in May, as exports declined
marginally and imports rose, a sign that
domestic demand could be improving
despite a global economic slowdown, as the
country's economy tries to shake off the
recession it suffered in the winter. The
country's adjusted trade surplus--the balance
of exports and imports of goods--dipped to
14.4 billion euros ($15.72 billion) in May,
compared with a revised EUR16.5 billion in
April, data from the country's statistics office
Destatis showed Tuesday.
Germany’s trade
surplus fell in May as
exports ticked down
Oil rises as market
weighs supply cuts
Oil prices rose Tuesday as markets
weighed supply cuts for August by top
exporters Saudi Arabia and Russia
against an uncertain global economic
outlook. Brent crude futures climbed 32
cents, or 0.42%, to $75.73 a barrel by
08:05 GMT. U.S West Texas Intermediate
crude was at $70.96 a barrel, up 32
cents, or 0.45%. On Monday, Saudi
Arabia said it would extend its voluntary
output cut of 1 million barrels per day to
August.