Gold prices continue to maintain their ability to increase after
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Selena greets everyone!
Today, the price of gold is trading steadily at $1,926 per ounce, a decrease of $5 per ounce compared to earlier this morning.
It can be seen that gold is moving sideways after the Federal Reserve decided to keep interest rates unchanged at a range of 5.25% to 5.50% during the September monetary policy meeting. However, when looking at the overall picture on the 4-hour chart, gold is still in an uptrend, indicating the possibility of a temporary price consolidation before further market fluctuations.
It is predicted that in the near future, gold will once again reach the price of $1,950 and continue to rise even higher.
Today, the price of gold is trading steadily at $1,926 per ounce, a decrease of $5 per ounce compared to earlier this morning.
It can be seen that gold is moving sideways after the Federal Reserve decided to keep interest rates unchanged at a range of 5.25% to 5.50% during the September monetary policy meeting. However, when looking at the overall picture on the 4-hour chart, gold is still in an uptrend, indicating the possibility of a temporary price consolidation before further market fluctuations.
It is predicted that in the near future, gold will once again reach the price of $1,950 and continue to rise even higher.
Uwaga
Let Selena know what you think in the comments sectionUwaga
A dovish verdict by the BoE could work in favor of the non-interest-bearing Gold price. However, the weekly Jobless Claims and other minority reports from the United States could also impact the US Dollar valuation, in turn, influencing Gold price.Uwaga
The US Dollar Index (DXY), which measures the Greenback's performance against six other major currencies, extends its gains and trades at a six-month high of around 105.50.Uwaga
The USD is still supported by loose monetary policies in many countries.Uwaga
It can be observed that gold is not receiving much support as the US dollar remains relatively stable, with no surprising moves from the Fed compared to market expectations.Uwaga
After hitting resistance like Selena had given, gold came back and bounced back
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