Gold unpredictable fluctuations, short -term analysis
Updated
Dear friends, as predicted yesterday, gold has rebounded as the slight weakness in the US dollar during the evening trading session has increased its appeal to buyers holding other currencies.
Market news today:
Currently, the market is awaiting the speech from the Chairman of the Federal Reserve to gain more insight into the future monetary policy path of the Fed. Alongside interest rates, the safe-haven demand for gold from political tensions is also diminishing, making it difficult for gold to sustain significant gains in the past week.
Short-term outlook and technical analysis:
At the time of writing, the price is trading at $1959, with expectations for an increase to around $1974 - $1980.
Do you agree with me? What are your thoughts?
Market news today:
Currently, the market is awaiting the speech from the Chairman of the Federal Reserve to gain more insight into the future monetary policy path of the Fed. Alongside interest rates, the safe-haven demand for gold from political tensions is also diminishing, making it difficult for gold to sustain significant gains in the past week.
Short-term outlook and technical analysis:
At the time of writing, the price is trading at $1959, with expectations for an increase to around $1974 - $1980.
Do you agree with me? What are your thoughts?
Trade active
Comment
Federal Reserve Chairman Jerome Powell is not confident that current interest rate policy is restrictive enough to ensure inflation returns to 2% in a timely manner.Comment
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.