Metals markets keep Fed meeting in sight
Gold prices fall from Monday's high, as traders take profits after two weeks of gains
Metal prices have rallied over the past two weeks as the dollar fell to a 15-month low, tracking a string of indicators that use the US factor. The weak data also ended the growing success that the Federal Reserve is nearing the end of its rate-raising cycle for the year.
However, gold's rally was also somewhat limited by signs of recovery in the US economy, which in turn affected safe-haven demand for the yellow metal. Prices have largely stalled after hitting $1,960 an ounce last week.
XAUUSD BUY LIMIT 1953 - 1950 💯💯
✅ TP1: 1960
✅ TP2: 1965
✅ TP2: 1970
🛑 SL: 1945
Metal prices have rallied over the past two weeks as the dollar fell to a 15-month low, tracking a string of indicators that use the US factor. The weak data also ended the growing success that the Federal Reserve is nearing the end of its rate-raising cycle for the year.
However, gold's rally was also somewhat limited by signs of recovery in the US economy, which in turn affected safe-haven demand for the yellow metal. Prices have largely stalled after hitting $1,960 an ounce last week.
XAUUSD BUY LIMIT 1953 - 1950 💯💯
✅ TP1: 1960
✅ TP2: 1965
✅ TP2: 1970
🛑 SL: 1945
Note
Hit TP1 + 60 Pips ✅✅✅
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Related publications
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.