XAUUSD - Reversing to the upside, the pressure is still high

If the U.S. economy decelerates rapidly or slips into a recession, the Fed could soon pivot — a move in gold's favor because gold is a zero-yielding asset.

On the future, commodity analysts at Heraeus Precious Metals said that the "hawkish" view of the US Federal Reserve (Fed) could keep the pressure on gold prices longer.

The market signaled and the view of the majority of Fed officials was to still raise interest rates, about 2 more times, 25 basis points each time to fight inflation.

As for Kitco, according to experts from Heraeus Precious Metals, the "hawkish" view of the Fed could put pressure on gold in the long run. US economic data over the past month also reinforces the possibility that the Fed will raise interest rates.

Experts at Heraeus Precious Metals think that gold will be under pressure from "headwinds" in the next 10 months when the dollar is likely to continue to be strong. Accordingly, the US may only have the first interest rate cut in May 2024. Peak interest rates will fall by the end of 2023.

However, if rising interest rates make the US economy unstable, gold will benefit again.

XAUUSD SELL LIMIT 1928 - 1930 💯💯

✅ TP1: 1922
✅ TP2: 1915
✅ TP3: 1910

🛑 SL: 1938

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Running +60Pips ✅

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Running +110Pips ✅

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Hit TP2 +150Pips✅