Gold may fall to 2050 again if Fed doesn't cut as expected
Gold has rallied strongly for a month. However, with market participants in
doubt about Fed's interest rate decision, Gold's rally has come to an end.
In fact, in the last few trading days, Gold has declined continuously. The impulse
and price action of the decline suggests that the fall may not be over yet.
If the Federal Reserve doesn't cut rates as much as the market is expecting, Gold
may continue to fall to 2100 and even 2040 level. Our preferred approach
is to sell the rallies in Gold.
doubt about Fed's interest rate decision, Gold's rally has come to an end.
In fact, in the last few trading days, Gold has declined continuously. The impulse
and price action of the decline suggests that the fall may not be over yet.
If the Federal Reserve doesn't cut rates as much as the market is expecting, Gold
may continue to fall to 2100 and even 2040 level. Our preferred approach
is to sell the rallies in Gold.
Comment:
2160-2180 would be a good sell entry