Fed interest rates impact XAU in the short term
Updated
Experts believe that the Fed's interest rate direction will be the main factor affecting the direction of gold in the short term. Therefore, the market will continue to listen for information that is expected to have an impact on the Fed's decision.
This week, besides employment data, the gold market will wait for the interest rate decision of the European Central Bank (ECB). The bank will almost certainly cut interest rates by 25 basis points and this could become the first major central bank to cut interest rates this cycle
xan price may recover in the next trading sessions
Many analysts predict that, ahead of the Fed's monetary policy meeting on June 11-12, many investors will increase buying, causing gold prices to increase sharply before the meeting.
This week, besides employment data, the gold market will wait for the interest rate decision of the European Central Bank (ECB). The bank will almost certainly cut interest rates by 25 basis points and this could become the first major central bank to cut interest rates this cycle
xan price may recover in the next trading sessions
Many analysts predict that, ahead of the Fed's monetary policy meeting on June 11-12, many investors will increase buying, causing gold prices to increase sharply before the meeting.
Note
SELL XAU 2347 - 2345TP1: 2340
TP2: 2335
SL: 2353
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