Gold price is gradually returning to upward momentum?
Updated
Hello dear readers! The price of gold has been trading around the $1900 mark in recent hours.
It is evident that gold is making every effort to surpass this resistance level in order to have a chance to reach higher prices. However, given the current context with the increase in the value of the US dollar and tightening policies by the US economy, gold has somewhat lost its appeal among investors.
Therefore, it will be quite challenging for gold to experience significant growth during this time. The forecast for the coming period suggests that gold prices will continue to decline, but with less volatility in the market.
It is evident that gold is making every effort to surpass this resistance level in order to have a chance to reach higher prices. However, given the current context with the increase in the value of the US dollar and tightening policies by the US economy, gold has somewhat lost its appeal among investors.
Therefore, it will be quite challenging for gold to experience significant growth during this time. The forecast for the coming period suggests that gold prices will continue to decline, but with less volatility in the market.
Note
According to the CME FedWatch Tool, markets see an 86.5% chance that the Fed will keep rates unchanged in the 5.25% to 5.50% range.Note
Do you guys have any plans for the coming days?
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