Where is the gold price after the US market took place yesterday
The world gold price fell sharply to the threshold of 1,930 USD/ounce in the context that the DXY index (measurement of the volatility of the USD against 6 major currencies in the world) increased rapidly to 104.6 points.
The greenback rose as the Fed was about to have a meeting on September 19-20.
Market signals suggest that the US central bank may not raise interest rates in this game. However, general policy remains hawkish, tightening monetary policy, maintaining interest rates at record highs of many decades for a long period of time.
Gold price forecast
Besides, it is likely that the Fed still has another rate hike in its November meeting.
Recently, the data shows that the US economy is weakening again. This reinforces the possibility that interest rates will not rise further and thereby support assets like gold.
However, in the short term, precious metals are still under downward pressure. The US labor market is still quite strong. Meanwhile, inflation remains high. The possibility of a reversal in monetary policy is still calculated in 6 months to a whole year.
Currently, investors pay a lot of attention to fluctuations in Treasury bond interest rates before the Fed Open Market Committee (FOMC) meeting in September.
Some forecasts say that gold may adjust to $1,900/ounce a few more times before turning back up following a long-term downward trend of the USD.
The USD is forecast to not only decline in 2024 onwards due to a decline in interest rates, but also due to the greenback's position in the international market gradually decreasing.
The greenback rose as the Fed was about to have a meeting on September 19-20.
Market signals suggest that the US central bank may not raise interest rates in this game. However, general policy remains hawkish, tightening monetary policy, maintaining interest rates at record highs of many decades for a long period of time.
Gold price forecast
Besides, it is likely that the Fed still has another rate hike in its November meeting.
Recently, the data shows that the US economy is weakening again. This reinforces the possibility that interest rates will not rise further and thereby support assets like gold.
However, in the short term, precious metals are still under downward pressure. The US labor market is still quite strong. Meanwhile, inflation remains high. The possibility of a reversal in monetary policy is still calculated in 6 months to a whole year.
Currently, investors pay a lot of attention to fluctuations in Treasury bond interest rates before the Fed Open Market Committee (FOMC) meeting in September.
Some forecasts say that gold may adjust to $1,900/ounce a few more times before turning back up following a long-term downward trend of the USD.
The USD is forecast to not only decline in 2024 onwards due to a decline in interest rates, but also due to the greenback's position in the international market gradually decreasing.
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BIG WON !!!!!!
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Continue exactly
🟢TP1 : 1923
🟢TP2: 1918
🔴SL: 1935