Last week, international gold prices remained stable, ranging from $1,937 to $1,972 and closing at $1,960. Central banks' demand for gold has been supporting gold prices in recent months, with record high purchases.
Investors are keeping an eye on the Fed, as many predict that gold prices will increase when the Fed stops tightening monetary policy. In the upcoming meeting (13-14/6), the Fed is expected to keep interest rates at 5.25%.
If the Fed stops raising interest rates, it will have a positive impact on gold prices next week.
Investors are keeping an eye on the Fed, as many predict that gold prices will increase when the Fed stops tightening monetary policy. In the upcoming meeting (13-14/6), the Fed is expected to keep interest rates at 5.25%.
If the Fed stops raising interest rates, it will have a positive impact on gold prices next week.
If the support at $1,938 is broken, gold prices will continue to find round resistance at $1,900 or deeper, conversely, if the resistance of $1,980 is broken, gold is headed for a higher trade above $2,000.