⚡️Gold prices rose on Monday as markets bet that the Federal Reserve will keep interest rates on hold this week, while growing fears of a U.S. government shutdown spurred some safe haven demand.
⚡️The yellow metal saw some gains in recent sessions as strong inflation and economic activity data failed to convince markets that a U.S. interest rate hike was imminent. But gains were also limited as the dollar raced to six-month highs on the data.
⚡️Bullion prices are also expected to see some safe haven demand amid concerns over a U.S. government shutdown, as top Republican lawmakers spar over defense spending and broader fiscal spending cuts.
⚡️ In the h1 frame, a triple top pattern appears, this is a strong reversal pattern that investors trust.
⚡️The yellow metal saw some gains in recent sessions as strong inflation and economic activity data failed to convince markets that a U.S. interest rate hike was imminent. But gains were also limited as the dollar raced to six-month highs on the data.
⚡️Bullion prices are also expected to see some safe haven demand amid concerns over a U.S. government shutdown, as top Republican lawmakers spar over defense spending and broader fiscal spending cuts.
⚡️ In the h1 frame, a triple top pattern appears, this is a strong reversal pattern that investors trust.
Comment:
⚡️The price line has broken peak 3 but everything is still going according to plan
Comment:
⚡️Trading is taking places in tight ranges Tuesday as investors cautiously await news from Washington as Federal Reserve policymakers begin discussing their response to the U.S. economic outlook.
Trade closed: stop reached
