Gold prices fall despite weaker dollar
The price of gold defended past a key support level last week (gold price technical read the analysis). However, the US Dollar Index (DXY) remains on the defensive near 102.00 after a strong start to the week, with Friday's strength in nonfarm payrolls (NFP) leading to a decline.
But the US dollar strengthened early on Monday after becoming belligerent with Federal Reserve Michelle Bowman saying further rate hikes are likely needed to bring inflation back to target. changed to But the dollar has since fallen since New York Fed President Williams said interest rates could start to fall next year. The policymaker also expressed hope that the unemployment rate will rise slightly as the economy slows.
GOLD BUY 1931- 1933💯💯
✅ TP1: 1937
✅ TP2: 1941
🛑 SL: 1927
But the US dollar strengthened early on Monday after becoming belligerent with Federal Reserve Michelle Bowman saying further rate hikes are likely needed to bring inflation back to target. changed to But the dollar has since fallen since New York Fed President Williams said interest rates could start to fall next year. The policymaker also expressed hope that the unemployment rate will rise slightly as the economy slows.
GOLD BUY 1931- 1933💯💯 ✅ TP1: 1937
✅ TP2: 1941
🛑 SL: 1927
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