XAU has a recovery rhythm after a strong increase
Updated
Gold prices rose thanks to support from short selling by gold futures traders and dismal home sales reports in the US. Gold still maintained that increase after the US Federal Reserve (Fed) signaled it would keep interest rates higher in the near future.
In the minutes of the November monetary policy meeting, the Fed emphasized that, although interest rates are near their highest level, the central bank does not seem to be in a hurry to lower interest rates. Even so, the Fed still sees growing risks to the economy.
Additionally, the US Central Bank is also paying attention to bond yields as higher volatility has taken a toll on financial markets. Some analysts believe that the Fed's intervention in the bond market to keep yields stable could stimulate gold prices to increase significantly.
In the minutes of the November monetary policy meeting, the Fed emphasized that, although interest rates are near their highest level, the central bank does not seem to be in a hurry to lower interest rates. Even so, the Fed still sees growing risks to the economy.
Additionally, the US Central Bank is also paying attention to bond yields as higher volatility has taken a toll on financial markets. Some analysts believe that the Fed's intervention in the bond market to keep yields stable could stimulate gold prices to increase significantly.
Comment
SELL XAU 1996 - 1998TP1: 1985
TP2: 1975
SL: 2008
Comment
Wait for the signal on tonight's news, everyoneComment
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