Gold is looking vulnerable in the coming week; resistance seen at $1965/$1987

July 29, 2023

Global manufacturing and services PMIs data in the week were mostly disappointing. Composite PMI data of the Euro-zone, Germany, the UK, and the US lagged the forecast and edged lower from their respective prior readings. Germany’s IFO business climate data for May at 87.30 fell short of the forecast of 88 and was lower than the previous reading of 88.60.

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