Fed Chairman's hawkish comments pushed world gold down more than

As demand for safe haven assets declined, gold prices dropped more than 1% on Friday, marking two weeks of price losses in a row. Meanwhile, the "hawkish" approach taken by Fed Chairman Jerome Powell puts more pressure on precious metals. Palladium is still falling below $1,000 USD/oz, the lowest level in five years.

The spot price of gold fell 1.1% to $1,936.09 USD/oz. Spot gold prices fell 2.8% overall last week, which was the biggest drop in six weeks.

In the US, gold futures contracts dropped 1.6% to $1,937.70 USD/oz.

According to Jim Wyckoff, senior analyst of Kitco Metals, "gold will continue to move sideways and bearish in the short term unless we see an escalation of geopolitical events and weak economic reports." weakening in the US or if the Fed indicates that it is

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💵 SELL XAUUSD 1938 - 1940 🪙🪙🪙

💲TP1 1935
💲TP2 1932

🔴 SL 1945