XAUUSD - Trading strategy on August 28, forecast to increase
Updated
World gold price this morning tended to increase with spot gold increasing by 0.7 USD, so compared to last week's trading time increased to 1,915.5 USD/ounce.
Last week, gold rallied slightly and ended a four-week losing streak. Gold remained steady despite US Federal Reserve Chairman Jerome Powell signaling on Friday that the central bank will maintain its 2% inflation target and not look to cut interest rates anytime soon.
The latest Kitco News gold survey results show that most retail investors expect gold prices to rise in the week ending September 1. Meanwhile, market analysts still need to be cautious into the last weekend of August.
This week will see a slew of key economic data released, including the ADP jobs report and nonfarm payrolls. These data are forecasted to help the market have a better insight into the US working picture. The revised second-quarter GDP report, along with consumer and manufacturing prices, will also help advisers determine the pace of the Fed's direction as it tries to balance inflation risks with inflation. chief .
Last week, gold rallied slightly and ended a four-week losing streak. Gold remained steady despite US Federal Reserve Chairman Jerome Powell signaling on Friday that the central bank will maintain its 2% inflation target and not look to cut interest rates anytime soon.
The latest Kitco News gold survey results show that most retail investors expect gold prices to rise in the week ending September 1. Meanwhile, market analysts still need to be cautious into the last weekend of August.
This week will see a slew of key economic data released, including the ADP jobs report and nonfarm payrolls. These data are forecasted to help the market have a better insight into the US working picture. The revised second-quarter GDP report, along with consumer and manufacturing prices, will also help advisers determine the pace of the Fed's direction as it tries to balance inflation risks with inflation. chief .
Note
XAUUSD BUY 1911 - 1913🕯✅ TP1: 1918
✅ TP2: 1924
⚠️ SL: 1903
Note
Running BuyNote
Any weaker signal on the economic situation could convince the Fed that they don't need to continue raising rates, which should also support gold prices.Note
Running +20Pips ✅✅Note
Hit TP2+ 110Pips ✅✅
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