Gold Spot / U.S. DollarUpdated XAU soared sky high after news from the fed
Gold prices (XAU/USD) continued their upward momentum for the third consecutive day on Thursday. Comments from Fed Chairman Jerome Powell reaffirmed market expectations that the central bank would cut interest rates in September and again in December. This limited the USD's advance and became the main factor supports this precious metal. In addition, central banks' continuous increase in gold reserves, macroeconomic uncertainties and geopolitical risks also further support XAU/USD.
Note
SELL XAU 2408 2310TP1: 2402
TP2: 2395
SL: 2317
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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.