Gold Spot / U.S. DollarUpdated GOLD - creates an upward double bottom
Gold prices rebounded after falling to a 2-month low when Fed leaders gave reassurances on monetary policy. Fed Chairman Jerome Powell suggested that due to uncertainties in the banking sector, interest rates may not rise much, indicating a potential pause in rate hikes. This led to speculation that the Fed may not raise interest rates in June. As a result, gold prices are expected to reach the 1,980 USD/ounce level in the near future, before quickly returning to 2,000 USD/ounce.
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GOLD uptrend
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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.