True to yesterday's forecast, the price of gold continues its descent into a deep pit.
Public expenditure in the US is currently at a record level, and the budget deficit is also very high. As a result, inflation will be high and will force interest rates to rise. The Federal Reserve (Fed) has signaled that it will continue to raise interest rates and maintain them for a long time. Currently, the federal fund rate (FFR) is at its highest level in 22 years: 5.25% - 5.5%. The Fed may raise interest rates once again in November.
For this reason, market sentiment seems to be pushing traders to sell gold in large quantities, causing the metal to continue its downward trend. It is currently at $1818, the lowest level since slipping from $1900.
Plan
Buy GOLD when price break out 1828
Public expenditure in the US is currently at a record level, and the budget deficit is also very high. As a result, inflation will be high and will force interest rates to rise. The Federal Reserve (Fed) has signaled that it will continue to raise interest rates and maintain them for a long time. Currently, the federal fund rate (FFR) is at its highest level in 22 years: 5.25% - 5.5%. The Fed may raise interest rates once again in November.
For this reason, market sentiment seems to be pushing traders to sell gold in large quantities, causing the metal to continue its downward trend. It is currently at $1818, the lowest level since slipping from $1900.
Plan
Buy GOLD when price break out 1828
Comment:
Gold is fluctuating within the 1818-1822 price range
Comment:
Plan SELL + 100 pips in new strategy
Comment:
Comment:
gold stiill not recover and sideway now
Comment:
Looking forward to a recovery during the nonfarm period
Comment:
update my new strategy
