trading strategy after gold surges due to volatility
Updated
Gold rose higher after the fund bought 13 tons
Gold will likely continue to rise on November 21 but there will be a recovery
Data released last week raised hopes that the Fed could begin easing monetary conditions sooner than expected after the job market slowed and price inflation showed signs of cooling. Lower interest rates put downward pressure on the dollar and bond yields, increasing the appeal of non-interest-bearing bullion.
In the short term, experts say that precious metals have lost momentum and need new fundamental motivation to recover. However, according to Daniel, senior commodity strategist at TD Securities, the impending recession combined with the Fed's interest rate cuts will push gold to new all-time highs in the first half of 2024.
Gold will likely continue to rise on November 21 but there will be a recovery
Data released last week raised hopes that the Fed could begin easing monetary conditions sooner than expected after the job market slowed and price inflation showed signs of cooling. Lower interest rates put downward pressure on the dollar and bond yields, increasing the appeal of non-interest-bearing bullion.
In the short term, experts say that precious metals have lost momentum and need new fundamental motivation to recover. However, according to Daniel, senior commodity strategist at TD Securities, the impending recession combined with the Fed's interest rate cuts will push gold to new all-time highs in the first half of 2024.
Note
SELL XAU 1990 - 1992TP1: 1976
TP2: 1968
SL: 2000
Note
We will continue the price fluctuations todayNote
running + 70 pipsNote
SLNote
Follow telegram to receive more signalsNote
Unemployment Claims news tonightNote
Revised UoM Consumer Sentiment news tonightNote
The market doesn't seem to fluctuate muchNote
Follow gold's next stepsNote
Bank holiday bull marketNote
We have PMI news tonight
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