Short-term XAU trading strategy
Updated
Gold price this morning increased sharply in the short term, the highest level recorded in 2018 due to the market's expectation that the US Federal Reserve will end the cycle of raising interest rates.
Gold is still maintaining an uptrend and is expected to continue to increase in the near future
The argument given by expert Dominic Frisby for his forecast is that China has continuously increased its purchases of gold reserves in recent times. Data released by the World Gold Council shows that China has increased its purchases of gold reserves in the past 12 months. In October 2023 alone, this country bought about 23 more tons, bringing the total amount of gold held to 2,215 tons.
Last week, 13 Wall Street analysts participated in Kitco News' gold survey. 54% of experts predict that gold prices will increase higher in the near future, another 15% of experts predict that gold prices will decrease, and the remaining 31% of experts think that gold prices will move sideways.
Gold is still maintaining an uptrend and is expected to continue to increase in the near future
The argument given by expert Dominic Frisby for his forecast is that China has continuously increased its purchases of gold reserves in recent times. Data released by the World Gold Council shows that China has increased its purchases of gold reserves in the past 12 months. In October 2023 alone, this country bought about 23 more tons, bringing the total amount of gold held to 2,215 tons.
Last week, 13 Wall Street analysts participated in Kitco News' gold survey. 54% of experts predict that gold prices will increase higher in the near future, another 15% of experts predict that gold prices will decrease, and the remaining 31% of experts think that gold prices will move sideways.
Note
XAUUSD BUY NOW ‼️OP : 2010 - 2008
TP 1 : 2015
TP 2 : 2020
SL : 2000
Note
running + 30 pipsNote
Running + 50 pipsNote
Hit TP 1
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