⚡️ The XAU/USD saw ongoing losses accelerate through Friday trading, dipping to $1,850.00 and continuing to churn out new lows for the day to cap off a trading week that has seen only losses for Gold.
⚡️ Gold spot prices are down almost 4% for the week and continuing to grind lower. The XAU/USD is in the red over 5% from the mid-September swing high just shy of $1,950.00.
⚡️ The Federal Reserve (Fed) continues to make statements affirming their dedication to tighter policy moving forward, and tight monetary policy coupled with price pressures in US Treasury yields is seeing Gold prices utterly deflate on the charts.
⚡️ Inflation pressures continue to ease in the US, with the Personal Consumption Expenditure (PCE) Price Index printing at 0.1% for the month of August, and the inflation that Gold was meant to serve as a hedge against is rapidly evaporating, leaving XAU/USD bulls in the lurch.
⚡️ Previously, the price line broke the 1900 hard support zone on Wednesday, which is an important zone, then continued to break the 1870 threshold on Friday, a sharp decline, as gold was affected by many factors.It is forecasted that there may be a slight recovery at the end of the fourth quarter due to year-end demand.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
⚡️ Gold spot prices are down almost 4% for the week and continuing to grind lower. The XAU/USD is in the red over 5% from the mid-September swing high just shy of $1,950.00.
⚡️ The Federal Reserve (Fed) continues to make statements affirming their dedication to tighter policy moving forward, and tight monetary policy coupled with price pressures in US Treasury yields is seeing Gold prices utterly deflate on the charts.
⚡️ Inflation pressures continue to ease in the US, with the Personal Consumption Expenditure (PCE) Price Index printing at 0.1% for the month of August, and the inflation that Gold was meant to serve as a hedge against is rapidly evaporating, leaving XAU/USD bulls in the lurch.
⚡️ Previously, the price line broke the 1900 hard support zone on Wednesday, which is an important zone, then continued to break the 1870 threshold on Friday, a sharp decline, as gold was affected by many factors.It is forecasted that there may be a slight recovery at the end of the fourth quarter due to year-end demand.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
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Comment:
⚡️Gold sank to a 7-month low on Monday, hanging on to the ropes of $1,800 support, as the dollar hit 10-month highs instead
