Traders seem reluctant to place aggressive directional bets around the Gold price and prefer to wait for fresh cues about the Federal Reserve's (Fed) future rate-hike path. The United States (US) Nonfarm Payrolls (NFP) report released last Friday showed that wage growth remained moderate in September and eased inflationary concerns. This, along with recent dovish remarks by several Fed officials, supports prospects for an eventual shift in the central bank's policy stance.
Furthermore, the Israel-Gaza conflict is seen lending some support to the safe-haven Gold price. The markets, meanwhile, are still pricing in the possibility of at least one rate hike by the end of this year. This, along with a generally positive risk tone and a modest US Dollar (USD) uptick, caps any further gains for the precious metal. Wednesday's release of the US Producer Price Index (PPI) and the FOMC minutes might provide some impetus ahead of the US CPI on Thursday.
Setup gold price
Gold buy 1963
Target 1880
Target 1900
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
Furthermore, the Israel-Gaza conflict is seen lending some support to the safe-haven Gold price. The markets, meanwhile, are still pricing in the possibility of at least one rate hike by the end of this year. This, along with a generally positive risk tone and a modest US Dollar (USD) uptick, caps any further gains for the precious metal. Wednesday's release of the US Producer Price Index (PPI) and the FOMC minutes might provide some impetus ahead of the US CPI on Thursday.
Setup gold price
Gold buy 1963
Target 1880
Target 1900
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
Note
Keep trades openNote
Gold fly soonNote
Next target 1880Note
20 pips runningNote
Keep holdNote
Target will be 1880Note
Market hit 1867 quicklyNote
50 pips done ✅Note
Keep holdNote
120 pips done market hit 1875Note
1877 doneNote
Move sl to entry point and enjoy your tradeNote
First target hitNote
Keep holdNote
Target hitNote
Enjoy your weekend
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.