XAUUSD: too many opportunities for gold investors
Updated
Most US markets are closed for trading during the Labor Day holiday.
World gold prices fluctuated slightly this morning, supported by a slight decline in the USD as market participants became more and more confident that the US Federal Reserve (Fed) may have completed interest rate increase.
Traders are all betting the Fed may have finished raising rates after the US unemployment rate spiked and wages trended up as well.
Craig Erlam, senior market analyst at OANDA, said that at the Fed's upcoming monetary policy meeting on September 19-20, most markets expect rates to be flat.
Data since the most recent policy meeting has raised hopes that the US economy is cooling, reinforcing the possibility that interest rates will not rise further and in turn supporting zero-yield assets such as Yellow.
“The precious metal will depend on what happens to Treasury yields ahead of the September FOMC meeting,” said Tim Waterer, market analyst at KCM Trade.
“If we see yields falling based on interest rate expectations, that would be a positive move for gold,” he added.
World gold prices fluctuated slightly this morning, supported by a slight decline in the USD as market participants became more and more confident that the US Federal Reserve (Fed) may have completed interest rate increase.
Traders are all betting the Fed may have finished raising rates after the US unemployment rate spiked and wages trended up as well.
Craig Erlam, senior market analyst at OANDA, said that at the Fed's upcoming monetary policy meeting on September 19-20, most markets expect rates to be flat.
Data since the most recent policy meeting has raised hopes that the US economy is cooling, reinforcing the possibility that interest rates will not rise further and in turn supporting zero-yield assets such as Yellow.
“The precious metal will depend on what happens to Treasury yields ahead of the September FOMC meeting,” said Tim Waterer, market analyst at KCM Trade.
“If we see yields falling based on interest rate expectations, that would be a positive move for gold,” he added.
Note
XAUUSD BUY 1936 1934 🔼🔼 ✅TP1: 1940
✅TP2: 1950
🚫SL: 1930
Note
Gold is going up (currently 1937)
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