Dear friends, Gold continues to trade sluggishly around the $1995 mark, showing little change compared to yesterday's trading session.
Market analysis:
- The global precious metal is caught between escalating political tensions and expectations of interest rates ahead of the Federal Reserve's monetary policy meeting. However, we remain optimistic about this issue.
Forecast for the Federal Reserve interest rate at this week's meeting: Currently, the market seems to be certain that the Fed will keep interest rates unchanged. Many believe that the important information will be the message from Fed Chair Jerome Powell at the subsequent press conference, and it is highly likely that the head of the world's most powerful central bank will maintain a hawkish tone in the context of persistent inflation.
Technical analysis :
Gold is facing a resistance level at $2010, so the possibility of a decline will start from here. Key support levels to watch are $1960 and $1935. This could be a catalyst for Gold to rebound in the near future. Do you agree with my analysis?
Market analysis:
- The global precious metal is caught between escalating political tensions and expectations of interest rates ahead of the Federal Reserve's monetary policy meeting. However, we remain optimistic about this issue.
Forecast for the Federal Reserve interest rate at this week's meeting: Currently, the market seems to be certain that the Fed will keep interest rates unchanged. Many believe that the important information will be the message from Fed Chair Jerome Powell at the subsequent press conference, and it is highly likely that the head of the world's most powerful central bank will maintain a hawkish tone in the context of persistent inflation.
Technical analysis :
Gold is facing a resistance level at $2010, so the possibility of a decline will start from here. Key support levels to watch are $1960 and $1935. This could be a catalyst for Gold to rebound in the near future. Do you agree with my analysis?
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