Gold’s struggles come as the US dollar, which fell to a one-year low last month and entered oversold territory, is seeing a modest shift in momentum.
While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
Note
SELL XAU 2517 - 2520TP1: 2512
TP2: 2504
SL: 2527
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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.