GOLD - rises after the Fed's interest rate decision
Updated
This morning, the price of gold (XAUUSD) fell slightly, indicating that investors are waiting for the release of US inflation data tomorrow, June 13, as well as the two-day Fed meeting on June 13-14. If the May inflation data continues to decrease, the Fed may halt its interest rate hikes on the dollar on June 14. This would cause gold prices to fall further, as lower inflation leads to increased consumer spending and supports economic growth.
Despite the decline of the European economic area and China in both production and export, it is unlikely that gold will experience a significant drop. The current price zone of $1,940 per ounce is expected to provide support.
If the Fed does pause interest rate hikes, this could have a positive impact on gold prices. As a result, gold may break $1,950 an ounce and potentially rally to $2,000 an ounce.
Despite the decline of the European economic area and China in both production and export, it is unlikely that gold will experience a significant drop. The current price zone of $1,940 per ounce is expected to provide support.
If the Fed does pause interest rate hikes, this could have a positive impact on gold prices. As a result, gold may break $1,950 an ounce and potentially rally to $2,000 an ounce.
Note
Let go GOLD
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