XAUUSD - Precious metals decreased but remained at high levels

Gold remains an attractive market as bonds offer little protection while stocks continue to be sold.

Fresh bullish bids in the gold market come as markets expect the US Federal Reserve (FED) to maintain restrained interest rates in 2024, analysts warn that demand lurks Value markets continue to be assured and will obscure possible risks from US monetary policy.

In the same vein, commodity analysts at Société Générale also made note of the new focus on this rare metal in the context of a demonstrated market of $8.1 billion sliding into the gold market.

On the other hand, some analysts believe that institutional investment demand for gold-backed exchange-traded products remains elusive, while hidden demand continues to be supported by offsetting status. for gold limit. Therefore, this has been noted as a trend that needs to change if the school wants to keep its recent gains.

Comment:

💵XAUUSD BUY 1991-1993💵

✔️TP1 1996
✔️TP2 2000

🚫 SL 1984

Comment:

It is highly likely that the head of the world's most powerful central bank will still maintain a "hawkish" tone in the context of persistent inflation.