Gold maintains its position and silently waits
Updated
World gold spot price stood around 1,924.8 USD/ounce, down 0.2 USD/ounce compared to last night. Gold prices increased slightly again after strong selling pressure this week. The gold market is still negatively affected by the monetary policy of the US Federal Reserve (Fed). During the week, the Fed decided to keep interest rates at 5.25 - 5.5%.
The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 105.5 points.
The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 105.5 points.
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XAUUSD is testing the upper boundary of the global descending resistance again at the end of last week. The retest occurs at the moment of strong news, but the key candlestick pattern is formed exactly at the moment of FED & FOMC speech, as a result of which the market determines the further prospect of strengthening the dollar and hence - the fall in the price of gold.Note
Gold has fallen into the technical indicator zoneNote
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Gold is in free fallNote
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