The Fed remains hawkish on gold
Updated
The Federal Reserve is expected to increase performance at a meeting in late July. But markets are now anticipating a prolonged pause in the Fed's rate hike cycle, making partial use of the figures from last week.
However, with the US share of core development remaining high, the market remains uncertain whether the central bank will signal a pause. Fed regulators have also given mixed signals about future rate hikes.
The prospect of rate hikes bodes ill for the metals market, as it increases the opportunity cost of holding non-yielding assets. But the recent decline in the dollar has been of great help to metal prices.
GOLD BUY LIMIT 1952 - 1949 💯💯
✅ TP1: 1955
✅ TP2: 1960
✅ TP2: 1965
🛑 SL: 1944
However, with the US share of core development remaining high, the market remains uncertain whether the central bank will signal a pause. Fed regulators have also given mixed signals about future rate hikes.
The prospect of rate hikes bodes ill for the metals market, as it increases the opportunity cost of holding non-yielding assets. But the recent decline in the dollar has been of great help to metal prices.
GOLD BUY LIMIT 1952 - 1949 💯💯 ✅ TP1: 1955
✅ TP2: 1960
✅ TP2: 1965
🛑 SL: 1944
Comment
Hit TP1 + 60 Pips ✅✅✅
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