XAU/USD decreased slightly and is trading around 2,312 USD/ounce. Traders are being quite cautious ahead of tonight's Fed policy meeting, because if the inflation report shows no improvement, the Fed may continue to hawkish. This means that both the USD and US yields will rise to the detriment of non-yielding assets like gold.
"The next important level is 2,300 USD/ounce. If gold drops below this price, it is likely to fall back to 2,200 USD/ounce in the near future" - Ong Everett Millman, Director of Market Analysis of Gainesville Coins (san trading of precious metals in the US) forecast.
"The next important level is 2,300 USD/ounce. If gold drops below this price, it is likely to fall back to 2,200 USD/ounce in the near future" - Ong Everett Millman, Director of Market Analysis of Gainesville Coins (san trading of precious metals in the US) forecast.
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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.