Hello dear readers!
The price of gold at the end of the week is currently trading at $1,925.8 per ounce, remaining largely unchanged after a week of trading. The precious metal has been on a downward trend this week following the announcement by the Federal Reserve to keep interest rates steady.
In terms of gold price predictions, Brian believes that the price of this precious metal may retreat within a narrow range of $1,925-$1,916 per ounce, as it has failed to break through the resistance zone of $1,933-$1,935 per ounce.
However, when consumers start spending their final savings and higher interest rates begin to take a toll on them, it will not be a good sign for the US dollar. The time when we see a weak economy is just a matter of time, and that will not be good news for the US dollar. That will be the time for gold to regain its position in the market.
The price of gold at the end of the week is currently trading at $1,925.8 per ounce, remaining largely unchanged after a week of trading. The precious metal has been on a downward trend this week following the announcement by the Federal Reserve to keep interest rates steady.
In terms of gold price predictions, Brian believes that the price of this precious metal may retreat within a narrow range of $1,925-$1,916 per ounce, as it has failed to break through the resistance zone of $1,933-$1,935 per ounce.
However, when consumers start spending their final savings and higher interest rates begin to take a toll on them, it will not be a good sign for the US dollar. The time when we see a weak economy is just a matter of time, and that will not be good news for the US dollar. That will be the time for gold to regain its position in the market.
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good luck
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Are you looking forward to the new trading week like Brian?
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Gold is showing the first signs of decline as shown on the technical indicator
