GOLD - Waiting for information from the Fed, gold declined

Precious metal prices declined ahead of the US Federal Reserve's (Fed) monetary policy meeting.

Commenting on the upcoming monetary meeting, experts say that Fed Chairman Jerome Powell may continue the old scenario that all Fed interest rate decisions will depend on economic data. Kelvin Wong, senior market analyst for Asia Pacific at OANDA, said that the Fed will leave open the possibility of another interest rate increase in December.

However, some say that gold may lose its safe-haven appeal as the world gradually adapts to developments in the Middle East. In fact, concerns about geopolitical instability cannot help gold maintain the $2,000/ounce level when the market once again returns to the Fed's monetary policy, which is supporting the strength of the USD. and bond yields.
Precious metal prices declined ahead of the US Federal Reserve's (Fed) monetary policy meeting.

Commenting on the upcoming monetary meeting, experts say that Fed Chairman Jerome Powell may continue the old scenario that all Fed interest rate decisions will depend on economic data. Kelvin Wong, senior market analyst for Asia Pacific at OANDA, said that the Fed will leave open the possibility of another interest rate increase in December.

However, some say that gold may lose its safe-haven appeal as the world gradually adapts to developments in the Middle East. In fact, concerns about geopolitical instability cannot help gold maintain the $2,000/ounce level when the market once again returns to the Fed's monetary policy, which is supporting the strength of the USD. and bond yields.

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💵XAUUSD SELL 1989-1991💵

✔️TP1 1984
✔️TP2 1978

🚫 SL 1999

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HiT FULL TP ✔️✔️