XAUUSD: Gold briefly surpassed the $2,000 threshold as the dolla
Updated
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It surpassed the $2,000 per ounce threshold in trading on Tuesday on expectations that US Federal Reserve interest rates have peaked. The latest minutes show the central bank is very cautious about raising rates further.
Spot gold contracts rose 1.07% to $1,998,356/oz after hitting a three-week high of $2,007.29/oz during trading. U.S. gold futures also rose 1.1% to $2,001.60 an ounce. "The bulls are aggressively stocking up on gold ahead of the Thanksgiving holiday," said Tai Wong, an independent metals trader based in New York.
Fed officials agreed at their most recent policy meeting that interest rates could only rise if future information suggests that inflation will decline, according to minutes released Tuesday. Development has not made the necessary progress.
The dollar has fallen to its lowest level in two-and-a-half months, making gold less attractive to holders of other currencies. The yield on the 10-year U.S. Treasury bond is also hovering around the two-month low hit last week.
It surpassed the $2,000 per ounce threshold in trading on Tuesday on expectations that US Federal Reserve interest rates have peaked. The latest minutes show the central bank is very cautious about raising rates further.
Spot gold contracts rose 1.07% to $1,998,356/oz after hitting a three-week high of $2,007.29/oz during trading. U.S. gold futures also rose 1.1% to $2,001.60 an ounce. "The bulls are aggressively stocking up on gold ahead of the Thanksgiving holiday," said Tai Wong, an independent metals trader based in New York.
Fed officials agreed at their most recent policy meeting that interest rates could only rise if future information suggests that inflation will decline, according to minutes released Tuesday. Development has not made the necessary progress.
The dollar has fallen to its lowest level in two-and-a-half months, making gold less attractive to holders of other currencies. The yield on the 10-year U.S. Treasury bond is also hovering around the two-month low hit last week.
Note
US forces attack two Iranian-backed bases in Iraq US Central Command statement:
On the morning of November 22nd, US Central Command (USCENTCOM) forces in Iraq conducted small-scale attacks on two facilities in Iraq.
The counterattack is a direct response to attacks on U.S. forces, Iranian coalition forces, and Iranian-backed groups, including the Nov. 21 attack on Iraq that used short-range ballistic missiles.
Escalating hostilities in the Middle East have been brought under control, with traders worried about the impact on energy markets.
Note
💵BUY LIMIT XAUUSD 1992 - 1990💵❌SL 1985
✅TP 2000
💲BUY LIMIT XAUUSD 1980 - 1978💲
❌SL 1972
✅TP 1995
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