October 26, 2024! Xau! Cow market
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Gold price increased slightly on Friday after recovery after profit -taking due to tensions in the Middle East and worried about the election in the United States that supported the price, while the palladium price expanded to the highest level in 10. month.
The monetary loosening policy of large central banks is also a factor to promote gold prices. According to CME's Fedwatch Tool, the market expected 97% of the US Federal Reserve (Fed) to reduce interest rates in the November meeting, helping to support gold prices.
Technically: The main and long -term trend is still increasing the price on almost all time frames. On the other hand, before the weekend gold price has a spectacular breakthrough from the resistance level 2740, this shows the significant power of the ruling faction. In addition, technical factors also support gold prices, promoting the purchase of markets of the market will continue without any significant reversal. Thereby, has expected the upward trend to continue, capable of achieving high levels of about $ 2758 earlier. Currently this pair of money is fluctuating about $ 2747 and close to the psychological threshold of $ 2750.
The monetary loosening policy of large central banks is also a factor to promote gold prices. According to CME's Fedwatch Tool, the market expected 97% of the US Federal Reserve (Fed) to reduce interest rates in the November meeting, helping to support gold prices.
Technically: The main and long -term trend is still increasing the price on almost all time frames. On the other hand, before the weekend gold price has a spectacular breakthrough from the resistance level 2740, this shows the significant power of the ruling faction. In addition, technical factors also support gold prices, promoting the purchase of markets of the market will continue without any significant reversal. Thereby, has expected the upward trend to continue, capable of achieving high levels of about $ 2758 earlier. Currently this pair of money is fluctuating about $ 2747 and close to the psychological threshold of $ 2750.
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