Gold is about to return to the price zone of 1900 usd
Greetings, traders! The price of gold is presently trading below the 1900 USD mark. However, in comparison to yesterday, gold has shown new progress by reaching 1896 USD per ounce.
At present, gold's ability to rise significantly is hindered by multiple factors. Notably, the USD has yet to cool down and faces additional pressure due to the Federal Reserve's plans for a long-term interest rate hike. Nonetheless, there is no need for excessive concern as gold will have ample opportunities to regain higher prices once the US economy stabilizes. Although this week may see gold prices remaining low, they are expected to be less volatile.
May you all experience good fortune and success in your endeavors :3
At present, gold's ability to rise significantly is hindered by multiple factors. Notably, the USD has yet to cool down and faces additional pressure due to the Federal Reserve's plans for a long-term interest rate hike. Nonetheless, there is no need for excessive concern as gold will have ample opportunities to regain higher prices once the US economy stabilizes. Although this week may see gold prices remaining low, they are expected to be less volatile.
May you all experience good fortune and success in your endeavors :3
Comment:
According to the CME FedWatch Tool, markets see an 86.5% chance that the Fed will keep rates unchanged in the 5.25% to 5.50% range.
