XAUUSD : Support is strong at $1,900
On the world market, gold price reached $1,909.23, an increase of $0.14. World gold prices are still trading near the lowest level of the past three weeks, as August inflation data of the US economy increases speculation that the Fed will stop raising interest rates next week.
After a series of US economic data showed strong increases in manufacturing inflation and retail sales - both reports fell into the hawkish camp on US monetary policy and that was a bearish sign for precious metal. Gold is forecast to decrease slightly in the short term and has very strong support at the $1,900 threshold. In the long term, gold is forecast to increase, even increase sharply.
After a series of US economic data showed strong increases in manufacturing inflation and retail sales - both reports fell into the hawkish camp on US monetary policy and that was a bearish sign for precious metal. Gold is forecast to decrease slightly in the short term and has very strong support at the $1,900 threshold. In the long term, gold is forecast to increase, even increase sharply.
🔴 SL: 1920
🟢 TP1: 1910
🟢 TP2: 1905