Gold prices held steady on Friday and traded below the record high hit in the previous session, supported by safe-haven demand stemming from geopolitical and economic uncertainty, while the Federal Reserve's hint of a rate cut this year also boosted appeal.
Federal Reserve Chairman Jerome Powell said on Wednesday that the Trump administration's early policies, including extensive import tariffs, appear to have slowed the U.S. economy and raised inflation at least temporarily.
The Fed kept its benchmark overnight interest rate unchanged on Wednesday at 4.25%-4.50%. Policymakers expect the central bank to deliver two 25 basis point rate cuts by year-end.
XAUUSD trading strategy around the price zone:
SELL XAUUSD around 3058-3060
Stoploss: 3065
Take Profit 1: 3052
Take Profit 2: 3048
Take Profit 3: 3043
BUY XAUUSD around 3020-3022
Stoploss: 3015
Take Profit 1: 3027
Take Profit 2: 3032
Take Profit 3: 3040
Note: Always set Stoploss in all cases to be safe
Federal Reserve Chairman Jerome Powell said on Wednesday that the Trump administration's early policies, including extensive import tariffs, appear to have slowed the U.S. economy and raised inflation at least temporarily.
The Fed kept its benchmark overnight interest rate unchanged on Wednesday at 4.25%-4.50%. Policymakers expect the central bank to deliver two 25 basis point rate cuts by year-end.
XAUUSD trading strategy around the price zone:
SELL XAUUSD around 3058-3060
Stoploss: 3065
Take Profit 1: 3052
Take Profit 2: 3048
Take Profit 3: 3043
BUY XAUUSD around 3020-3022
Stoploss: 3015
Take Profit 1: 3027
Take Profit 2: 3032
Take Profit 3: 3040
Note: Always set Stoploss in all cases to be safe
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️🥇 Exchange and learn market knowledge
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t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
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️🥇 Zalo Group: zalo.me/g/hydlwv957
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.