GOLD (May 23) pending debt ceiling negotiations at 5:30 EDT
Updated
Gold prices decreased sharply this morning, standing at $1,960 at 8:45 am on May 23rd (Vietnam time), down $19 from the previous morning.
This drop is due to technical chart weakening and the recovery of the USD, which reduced gold's appeal to buyers holding other currencies. The market is closely watching the debt ceiling talks, and the dovish Fed attitude could be the next catalyst for gold prices.
The default of the world's No. 1 economy before the next Fed meeting will impact future decisions.
This drop is due to technical chart weakening and the recovery of the USD, which reduced gold's appeal to buyers holding other currencies. The market is closely watching the debt ceiling talks, and the dovish Fed attitude could be the next catalyst for gold prices.
The default of the world's No. 1 economy before the next Fed meeting will impact future decisions.
Note
Gold price is near the support zone. Buy Gold can be considered at entry $1,950-52, Stoploss $1,945. The most important thing is risk control. Good luck !!!
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