XAU is at a low price compared to last week
Updated
The XAU price fell to its lowest in more than a week today as traders await more US economic data and comments from US Federal Reserve (FED) officials this week for further action. more clarity on the timeline for interest rate cuts.
Markets see a more than 90% chance the Fed will cut interest rates in September, down from a previous forecast of 98%.
Senior market analyst at FxPro Alex Kuptsikevich said that the simultaneous decline in the gold and US stock markets recently is not a good omen for this precious metal.
Markets see a more than 90% chance the Fed will cut interest rates in September, down from a previous forecast of 98%.
Senior market analyst at FxPro Alex Kuptsikevich said that the simultaneous decline in the gold and US stock markets recently is not a good omen for this precious metal.
Note
💵XAUUSD SELL 2398 - 2400 💵✔️TP1: 2394
✔️TP2: 2390
❌SL: 2407
Note
Running + 80 pipsNote
+ 120 pips
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