USD cools down, gold soars
Updated
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Today, gold continues to maintain its shine primarily due to the decrease in the value of the US dollar. The DXY index has dropped from above 105 points to 104.5 points.
The increase in gold prices is also attributed to its close relationship with oil. The price of WTI crude oil rose by an additional 2% to $93.3 on the night of September 19th.
According to market signals, it is highly likely that the Federal Reserve will keep interest rates stable within the range of 5.25% - 5.5% at the upcoming meeting. This somewhat reinforces the price of gold and creates further opportunities for gold to shine.
Today, gold continues to maintain its shine primarily due to the decrease in the value of the US dollar. The DXY index has dropped from above 105 points to 104.5 points.
The increase in gold prices is also attributed to its close relationship with oil. The price of WTI crude oil rose by an additional 2% to $93.3 on the night of September 19th.
According to market signals, it is highly likely that the Federal Reserve will keep interest rates stable within the range of 5.25% - 5.5% at the upcoming meeting. This somewhat reinforces the price of gold and creates further opportunities for gold to shine.
Note
good luckNote
After touching the resistance of 1945 USD, gold quickly returned to the price of 1926 USD
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