XAUUSD - Gold price increases again, buying strategy
World gold prices this morning were stable with spot gold increasing by 2.5 USD to 1,922.4 USD/ounce. Gold futures last traded at $1,945.60 an ounce, down $1.60 from the bright spot.
Precious metals markets during the early saddle session when there is a lack of appropriate data and events in the market. Traders are waiting for data to come out to add to concerns about the direction of the Federal Reserve's arrangement to the US (Fed). Specifically, the consumer price index report for August will be published at the 4th level. It is expected that the CPI will increase by 4.3% year-on-year, thus a 4.7% increase in July report.
Information about the main meeting of the European Central Bank this week is also of interest to investors. It is expected that this bank will increase interest rates by 25 basis points.
The new report here by the Commission prohibits commodity futures trading, the next chamber continues to reduce prices falling on gold. However, analysts note that bullish sentiment needs to improve if gold is to break initial resistance above $1,980 an ounce.
Precious metals markets during the early saddle session when there is a lack of appropriate data and events in the market. Traders are waiting for data to come out to add to concerns about the direction of the Federal Reserve's arrangement to the US (Fed). Specifically, the consumer price index report for August will be published at the 4th level. It is expected that the CPI will increase by 4.3% year-on-year, thus a 4.7% increase in July report.
Information about the main meeting of the European Central Bank this week is also of interest to investors. It is expected that this bank will increase interest rates by 25 basis points.
The new report here by the Commission prohibits commodity futures trading, the next chamber continues to reduce prices falling on gold. However, analysts note that bullish sentiment needs to improve if gold is to break initial resistance above $1,980 an ounce.
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Running +15Pips ✔️✔️
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Running +25Pips ✔️✔️
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Although gold is poised to recover in 2023, some analysts say a recent rout as oil prices trade near one-year highs is forcing the Fed to maintain high monetary policies. over longer periods of time, this creates additional golden gains.
🟢TP1: 1927
🟢TP2: 1932
🔴SL: 1912