Gold Prices Face Heavy Pressure from Fed's Actions

เมื่อวานซืน

The gold market is experiencing significant volatility as prices hover around $2,656.275, with mounting tension surrounding the critical resistance level at $2,672.665.

With solid support at $2,627.499, buyers are still maintaining control of the market. Additionally, support from the EMA 34 ($2,648.157) and EMA 89 ($2,613.671) is helping to keep the uptrend intact, although potential risks continue to loom.

If gold fails to break through the $2,672.665 resistance, a correction could occur, pushing the price back to test the key support levels. On the other hand, if buyers muster enough strength to overcome this resistance, a fresh rally could be initiated, targeting new highs.

Currently, the market is on edge, waiting for economic data from the U.S., especially any actions from the Fed. These factors will be crucial in determining the short-term direction of gold prices.