World gold prices have skyrocketed and then quickly decreased
Updated
World gold prices decreased amid an increase in the USD index. Recorded at 5:00 p.m. on May 2, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 105,665 points (up 0.04%).
World gold prices soared and then quickly decreased after the US Federal Reserve (FED) kept interest rates unchanged and took a less tough attitude. The Fed admitted that the process of reducing inflation in the US has stalled. Accordingly, gold benefits when it is estimated that the FED is unlikely to reduce interest rates in the near future.
Mr. Powell also admitted that the FED does not have "greater confidence" in the downward trajectory of the food - an important condition to be able to temporarily stop raising interest rates. “I can only say, when we believe in it, interest rate cuts will happen. And I don't know exactly what will happen" - the leader said.
The FOMC statement and Mr. Powell's comments are considered a peaceful state, contrary to previous speculation. Accordingly, gold prices, which were traded with modest volumes before the meeting, soared after the FED's statement.
World gold prices soared and then quickly decreased after the US Federal Reserve (FED) kept interest rates unchanged and took a less tough attitude. The Fed admitted that the process of reducing inflation in the US has stalled. Accordingly, gold benefits when it is estimated that the FED is unlikely to reduce interest rates in the near future.
Mr. Powell also admitted that the FED does not have "greater confidence" in the downward trajectory of the food - an important condition to be able to temporarily stop raising interest rates. “I can only say, when we believe in it, interest rate cuts will happen. And I don't know exactly what will happen" - the leader said.
The FOMC statement and Mr. Powell's comments are considered a peaceful state, contrary to previous speculation. Accordingly, gold prices, which were traded with modest volumes before the meeting, soared after the FED's statement.
Note
💵XAUUSD BUY 2285- 2287 💵✔️TP 2310
✔️TP 2315
❌SL 2280
💵XAUUSD SELL 2313 - 2311💵
✔️TP 2305
✔️TP 2290
❌SL 2320
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