XAUUSD : Gold is back on the rise once again
Updated
The current gold price is trading around 2,323 USD/ounce. The golden boy immediately regained the mark of 2,300 USD/ounce after yesterday's sharp decline to 2,285 USD/ounce.
The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance.
Gold prices rose slightly after the Fed took a less hawkish stance than expected by keeping interest rates unchanged, and Japanese authorities were suspected of intervening to support the Yen, damaging the USD.
The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance.
Gold prices rose slightly after the Fed took a less hawkish stance than expected by keeping interest rates unchanged, and Japanese authorities were suspected of intervening to support the Yen, damaging the USD.
Trade active
Buy 2319 - 2321TP1 : 2330
TP2 : 2340
TP3 : 2350
SL 2310
Buy Limit 2313 - 2315
TP1 : 2320
TP2 : 2330
TP3 : 2340
SL 2305
👉 Free Signals Everyday: t.me/SantaTradeProInsightsFX
👉 Support 24/7 and More
👉 Join the group to profit every day.
👉 @bellatrader_2509
👉 Support 24/7 and More
👉 Join the group to profit every day.
👉 @bellatrader_2509
Related publications
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.