XAU turned down
Updated
XAU decreased slightly compared to yesterday morning. Despite being under pressure to take profits after hitting an all-time high earlier in the week
The US Federal Reserve (FED) has continuously expressed its view that it will not rush to start a cycle of loosening monetary policy. However, gold did not react much to this view that is considered less moderate.
Currently, investors are still worried about inflation and economic instability, and precious metals help them hedge risks.
Interest rate cuts could cause the dollar to weaken against many other currencies, which could provide further support for real assets such as gold. However, while the Fed has not yet come to a decision on loosening monetary policy, investors are carefully watching economic data to see if they could cause the Fed to pivot its monetary policy.
The US Federal Reserve (FED) has continuously expressed its view that it will not rush to start a cycle of loosening monetary policy. However, gold did not react much to this view that is considered less moderate.
Currently, investors are still worried about inflation and economic instability, and precious metals help them hedge risks.
Interest rate cuts could cause the dollar to weaken against many other currencies, which could provide further support for real assets such as gold. However, while the Fed has not yet come to a decision on loosening monetary policy, investors are carefully watching economic data to see if they could cause the Fed to pivot its monetary policy.
Note
BUY XAU 2416 1412Tp1: 2425
TP1: 2432
SL: 2406
Note
+ 60 pipsNote
hit TP 1
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