Gold price is in the indecision zone
Updated
Gold prices drop to $2,000 due to market risks from widespread war in Gaza
Although a pause in rate hikes was announced at the Fed meeting, interest rates are likely to remain at their current high levels for an extended period of time.
H4 gold price shows an ascending triangle pattern
The U.S. dollar index fell to a two-month low of 104.94, and the benchmark 10-year Treasury yield continued its slide, falling below the key level of 4.50% and hitting a new five-week high. A reduction in the Fed's tightening policy and lower U.S. Treasury refinancing estimates turned out to be the main causes of the Fed's weakness.
Looking ahead, this week will be a relatively data-poor week, but developments in the U.S. Treasury market will continue to be in the spotlight this week as a large-scale U.S. Treasury auction is expected soon. Additionally, geopolitical developments in the Middle East, the return of Fed policymakers, and Fed sentiment will continue to play a key role in gold price trends.
Although a pause in rate hikes was announced at the Fed meeting, interest rates are likely to remain at their current high levels for an extended period of time.
H4 gold price shows an ascending triangle pattern
The U.S. dollar index fell to a two-month low of 104.94, and the benchmark 10-year Treasury yield continued its slide, falling below the key level of 4.50% and hitting a new five-week high. A reduction in the Fed's tightening policy and lower U.S. Treasury refinancing estimates turned out to be the main causes of the Fed's weakness.
Looking ahead, this week will be a relatively data-poor week, but developments in the U.S. Treasury market will continue to be in the spotlight this week as a large-scale U.S. Treasury auction is expected soon. Additionally, geopolitical developments in the Middle East, the return of Fed policymakers, and Fed sentiment will continue to play a key role in gold price trends.
Note
💵 XAUUSD SELL 1988-1990💵🟢TP1: 1985
🟢TP2:1981
❌SL: 1996
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