TVC:GOLD fell to a five-month low on Thursday as US Treasury yields edged higher and a strong dollar delivered a one-of-a-kind punch to the non-ferrous metal bulls TVC:GOLD
Minutes of the Fed's July meeting showed on Wednesday that most members of the rate-setting committee were in favor of higher rates to curb inflation.
The prospect of higher US interest rates bodes ill for gold, as it increases the opportunity cost of investing in non-yielding assets. This notion has battered the TVC:GOLD metal through 2023 and is expected to continue to weigh on gold until the Fed decides to begin cutting rates.
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Today's Main Strategy SELL GOLD 1902 - 1900
Stoploss : 1910
Take Profit : 1897 Take Profit : 1893 Take Profit : 1888