Based on these news, GOLD could rally again:
Gold prices briefly touched a three-month low on Wednesday, breaking a month-long stability after Fed Chairman Jerome Powell testified before the House Financial Services Committee of Congress that the unemployment rate failure should be higher than the virtual development rate.
Now, Powell will continue to testify before the Senate Banking Committee later in the day, potentially offering more signals on future rate hikes. Any signal on monetary policy is likely to affect gold prices, as the yellow metal is very sensitive to US yields.
GOLD
BUY 1930-1932 💯💯
✅ TP1: 1939
✅ TP2: 1944
✅ TP3: 1949
🛑 SL: 1925
Gold prices briefly touched a three-month low on Wednesday, breaking a month-long stability after Fed Chairman Jerome Powell testified before the House Financial Services Committee of Congress that the unemployment rate failure should be higher than the virtual development rate.
Now, Powell will continue to testify before the Senate Banking Committee later in the day, potentially offering more signals on future rate hikes. Any signal on monetary policy is likely to affect gold prices, as the yellow metal is very sensitive to US yields.
GOLD
BUY 1930-1932 💯💯 ✅ TP1: 1939
✅ TP2: 1944
✅ TP3: 1949
🛑 SL: 1925
