Gold comes under pressure as the week of major central bank meet
Updated
World gold prices had a volatile week when US economic data was stronger than estimates. The precious metal plummeted from $2,179 to $2,152 as the CPI report was higher than expected, creating a bearish market for a Fed rate cut. Gold mostly traded in a wide range of $2,152 - $2,177 before ending the week at $2,155.
Next week, the market will receive a series of important economic data, including the Fed's interest rate decision along with US manufacturing and services PMI data. Currently, gold is falling to $2,151.
Next week, the market will receive a series of important economic data, including the Fed's interest rate decision along with US manufacturing and services PMI data. Currently, gold is falling to $2,151.
Note
sell xau 2150 - 2155TP1: 2144
TP2: 2138
SL: 2165
Note
running 40 Pips
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