In the context that the Fed still maintains a "hawkish" view on monetary policy, experts say that gold is still a strategic asset to hold.
Gold price early this morning reversed up against spot gold, up $15.7 to $1,957.7 per ounce.
Gold prices rose on the last session of the dollar weakening as traders put their deposits in the US Federal Reserve (Fed) will cut interest rates before the end of the year.
The gold market largely ignored economic data as the market continued to "digest" the Fed's latest monetary policy decision announced on June 14.
According to the CME Fedwatch tool, traders expect about a 72 percent chance the Fed will raise rates in July.
A pause in Fed rate hikes will have a positive effect on gold. Conversely, any sign that the Fed remains aggressive in its monetary policy austerity will mean a sharp sell-off in gold.
XAUUSD BUY LIMIT 1948 - 1950 💯💯
✅ TP1: 1957
✅ TP2: 1962
✅ TP3: 1968
🛑 SL: 1939
Gold price early this morning reversed up against spot gold, up $15.7 to $1,957.7 per ounce.
Gold prices rose on the last session of the dollar weakening as traders put their deposits in the US Federal Reserve (Fed) will cut interest rates before the end of the year.
The gold market largely ignored economic data as the market continued to "digest" the Fed's latest monetary policy decision announced on June 14.
According to the CME Fedwatch tool, traders expect about a 72 percent chance the Fed will raise rates in July.
A pause in Fed rate hikes will have a positive effect on gold. Conversely, any sign that the Fed remains aggressive in its monetary policy austerity will mean a sharp sell-off in gold.
XAUUSD BUY LIMIT 1948 - 1950 💯💯
✅ TP1: 1957
✅ TP2: 1962
✅ TP3: 1968
🛑 SL: 1939
