The Fed could spike gold prices if there are hints that 3 rate cuts are likely this year. I would expect the US to follow the ECB with a rate cut and reassuring market that they will cut more if data shows more weakness. However, Powell has been hawkish and cautious of unwinding previous rate hikes in prior Fed minutes.
Trade closed: stop reached
Out!!!Trade active
Back in, After digesting last week's fed and trade news, I believe gold is good for a run to $1600. The drop in gold after the fed announcement was temporarily bearish and the daily psar is now showing a strong buy sign.
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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.