GOLD → Keeping prices stable helps strengthen trust

アップデート済

World gold price stood at 1,924 USD/ounce, down slightly by 1 USD/ounce compared to last week's closing session. Gold price is currently still trying to stay above 1,920 USD. After being surrounded by a lot of pressure, the precious metal price still maintains a stable price, helping to strengthen investors' confidence in a safe haven asset.

Commenting on the direction of gold prices this week, gold will still be limited in a narrow range as the market is still considering information at the monetary policy meeting and the Fed Chairman's speech. This week, the market will receive a series of economic data, including GDP data and the US PCE index for the second quarter and August. Many opinions say that these data will have little impact on the economy. gold because the market is still reviewing information about the latest monetary policy meeting.

ノート

Retail investors clearly expressed their view that gold prices will increase sharply in the near future. Many opinions have been expressed that the gold price will trade around 1,936 USD/ounce, 12 USD higher than predicted last week.

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Gold is in a consolidation phase after prices failed to sustain above $1,930/ounce last week. In addition, this expert also added that bullion could be further pressured towards the important psychological level of 1,900 USD/ounce, if the Fed raises interest rates.

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After the FOMC event, FED data clearly shows that DXY is very healthy
So the time after that GOLD decreased + Stock decreased because the money flow moved to DXY so its decline was high.
Money is King, USD is King

ノート

Initial resistance is expected to be around 1,850 USD/ounce. The perception that higher inflation means higher interest rates makes non-interest-bearing metals somewhat worse off. If as predicted, gold will slide to 1,840 USD/ounce.