This week, the gold market has undergone a transformation in the face of the opposite formulas for gold prices. Even so, according to some in-depth analysis, the precious metal still needs an appropriate size to overcome the current downtrend.
After a four-week losing streak, gold posted a mild week of gains, but the strengthening was still modest. Archive analysts make sense that the gold market is in a wait-and-see mode and that economic data sorties could bring important swings.
US economic data continues to play an important role in the gold market sentiment. The US Federal Reserve (Fed) has vowed to keep interest rates higher for a long time as the economic situation continues to support the labor market.
Fed Chair Powell reaffirmed this position in his Jackson Hole election speech on Friday. While Mr. Powell's speech didn't provide much new information, he did confirm the central bank's view that deflation to the 2% target still needs to be done, even though the figure may have some implications. may change based on data. “In our upcoming meeting, we will assess our progress based on aggregated data, along with an assessment of the outlook and growing risks,” Mr. Powell said.
XAUUSD BUY 1911- 1913🕯
✅ TP1: 1918
✅ TP2: 1924
⚠️ SL: 1903
After a four-week losing streak, gold posted a mild week of gains, but the strengthening was still modest. Archive analysts make sense that the gold market is in a wait-and-see mode and that economic data sorties could bring important swings.
US economic data continues to play an important role in the gold market sentiment. The US Federal Reserve (Fed) has vowed to keep interest rates higher for a long time as the economic situation continues to support the labor market.
Fed Chair Powell reaffirmed this position in his Jackson Hole election speech on Friday. While Mr. Powell's speech didn't provide much new information, he did confirm the central bank's view that deflation to the 2% target still needs to be done, even though the figure may have some implications. may change based on data. “In our upcoming meeting, we will assess our progress based on aggregated data, along with an assessment of the outlook and growing risks,” Mr. Powell said.
XAUUSD BUY 1911- 1913🕯
✅ TP1: 1918
✅ TP2: 1924
⚠️ SL: 1903
