According to experts, world gold prices suddenly increased sharply due to recent positive inflation data and the weakening of the USD. There is a high possibility that the gold price has run ahead of the news of the meeting minutes of the US Federal Reserve (Fed) announced tomorrow morning.
Market signals show that it is almost certain that the Fed will keep interest rates unchanged at the policy meeting and may maintain them at 5.25% - 5.5% until June next year.
However, experts also warn that because the gold price has run ahead of the news of the Fed's meeting minutes, there is a possibility that gold will be subject to profit-taking when the information is announced by the Fed, leading to a decline back to the area of 1,980 USD/ounce.
Market signals show that it is almost certain that the Fed will keep interest rates unchanged at the policy meeting and may maintain them at 5.25% - 5.5% until June next year.
However, experts also warn that because the gold price has run ahead of the news of the Fed's meeting minutes, there is a possibility that gold will be subject to profit-taking when the information is announced by the Fed, leading to a decline back to the area of 1,980 USD/ounce.
Note
BUY XAU 1992 - 1994TP1: 2007
TP2: 2014
SL: 1982
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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.