Gold Spot / U.S. DollarUpdated XAU suddenly increased sharply today
World gold spot price stands around 2,321.6 USD/ounce
World gold prices suddenly increased sharply after being "hurt" by a statement from a US Federal Reserve (Fed) leader that caused the USD to increase in price, taking away XAU's significant strength.
The Fed keeping interest rates unchanged for a longer period of time may be enough to control inflation, and the Fed may even raise interest rates further if inflation continues to rise.
Currently, investors are paying attention to the US May inflation report published later this month. They expect that after the report, the direction of gold will be clearer.
World gold prices suddenly increased sharply after being "hurt" by a statement from a US Federal Reserve (Fed) leader that caused the USD to increase in price, taking away XAU's significant strength.
The Fed keeping interest rates unchanged for a longer period of time may be enough to control inflation, and the Fed may even raise interest rates further if inflation continues to rise.
Currently, investors are paying attention to the US May inflation report published later this month. They expect that after the report, the direction of gold will be clearer.
Note
BUIY XAU 2320 - 2318 TP1: 2327
TP2: 2337
SL: 2310
Note
running + 60 pips
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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.