Gold Confirm Buy
Gold edged higher on Monday but the yellow metal’s gains were limited, with trading conditions remaining thin due to the Presidents’ Day holiday in the US. Improving risk mood on Tuesday made it difficult for the USD to find demand and XAU/USD managed to post small daily gains.
The Federal Reserve (Fed) said in the minutes of the January policy meeting on Wednesday that most policymakers noted the risks associated with moving too quickly to ease the policy. Furthermore, the publication showed that officials highlighted uncertainty around how long the restrictive policy stance would be needed. The benchmark 10-year US Treasury bond yield rose nearly 1% on the day and didn’t allow Gold to build on its weekly gains.
The Federal Reserve (Fed) said in the minutes of the January policy meeting on Wednesday that most policymakers noted the risks associated with moving too quickly to ease the policy. Furthermore, the publication showed that officials highlighted uncertainty around how long the restrictive policy stance would be needed. The benchmark 10-year US Treasury bond yield rose nearly 1% on the day and didn’t allow Gold to build on its weekly gains.
Note
my target hit 170 pips done
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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.