The gold price has recently rallied above the key
XAUUSD
2000 level in response to mixed US economic data ahead of the Fed's decision on interest rates. Analysts note that gold is likely to test all-time highs, given the ongoing uncertainty and volatility in the global economy. Although gold prices remained relatively flat ahead of the Fed's meeting, investors are cautiously optimistic about the prospects of the precious metal. The outcome of the meeting could have a significant impact on the direction of gold prices in the near term, with many analysts expecting gold to remain an attractive investment for long-term investors looking to hedge against inflation and other market risks.
Summary:
-Price continues to rise to test
XAUUSD
$2020. If it breaks through, it could find resistance at
XAUUSD
$2029.
-Volatility around ADP Non-Farm Employment Change and ISM Services PMI data could pull price back in under
XAUUSD
2007
-If data looks gloomy, price could run for
XAUUSD
2050 for the next stop
XAUUSD
2000 level in response to mixed US economic data ahead of the Fed's decision on interest rates. Analysts note that gold is likely to test all-time highs, given the ongoing uncertainty and volatility in the global economy. Although gold prices remained relatively flat ahead of the Fed's meeting, investors are cautiously optimistic about the prospects of the precious metal. The outcome of the meeting could have a significant impact on the direction of gold prices in the near term, with many analysts expecting gold to remain an attractive investment for long-term investors looking to hedge against inflation and other market risks. Summary:
-Price continues to rise to test
XAUUSD
$2020. If it breaks through, it could find resistance at
XAUUSD
$2029. -Volatility around ADP Non-Farm Employment Change and ISM Services PMI data could pull price back in under
XAUUSD
2007 -If data looks gloomy, price could run for
XAUUSD
2050 for the next stop