Gold stabilized around $1,960 per ounce on Monday, with investors anticipating interest rate decisions from major central banks in the coming week.
The US Federal Reserve is expected to implement a 25 basis point interest rate hike on Wednesday, and market participants will closely monitor Fed Chair Jerome Powell's post-meeting remarks for insights into the central bank's future plans.
Additionally, the European Central Bank is likely to raise rates by another quarter-point on Thursday, while the Bank of Japan is expected to maintain its ultra-low interest rate policy unchanged on Friday.
Furthermore, market focus remains on the Fed-preferred PCE inflation gauge and the advance estimate of Q2 GDP growth in the US, both scheduled for release this week.
XAUUSD
SELL 1965- 1967💯💯
✅ TP1: 1959
✅ TP2: 1952
🛑 SL: 1970
The US Federal Reserve is expected to implement a 25 basis point interest rate hike on Wednesday, and market participants will closely monitor Fed Chair Jerome Powell's post-meeting remarks for insights into the central bank's future plans.
Additionally, the European Central Bank is likely to raise rates by another quarter-point on Thursday, while the Bank of Japan is expected to maintain its ultra-low interest rate policy unchanged on Friday.
Furthermore, market focus remains on the Fed-preferred PCE inflation gauge and the advance estimate of Q2 GDP growth in the US, both scheduled for release this week.
XAUUSD
SELL 1965- 1967💯💯 ✅ TP1: 1959
✅ TP2: 1952
🛑 SL: 1970
