New golden week, how to trade?
World gold prices tend to increase with spot gold increasing by 0.9 USD compared to last week's closing level to 1,925.8 USD/ounce. Last week, world gold continued to trade in the neutral zone when the US Federal Reserve (Fed) kept interest rates unchanged at the September monetary policy meeting and signaled the possibility of at least one increase. again in 2023 and that interest rates will need to stay higher for longer.
Looking at the technical picture we can see yellow gold going up to the resistance area, then falling down, forming a long tail bar. It is expected to decrease to the specified level when this zone is reached.
Looking at the technical picture we can see yellow gold going up to the resistance area, then falling down, forming a long tail bar. It is expected to decrease to the specified level when this zone is reached.
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