Gold is at risk down
Gold Price (XAU/USD) steadies around $1,965 as bulls and bears jostle during the early hours of the key data comprising the Federal Open Market Committee (FOMC) monetary policy meeting announcements. Also challenging the XAU/USD price could be the latest headlines testing the previous optimism about China. Furthermore, mixed data from the United States and the pre-Fed anxiety, as well as a light calendar in Asia, appear as extra carriers for the Gold price of late. Even so, the yellow metal defends the previous day’s corrective bounce off the lowest levels in a week by the press time.
Gold Price remains on a firmer footing despite the latest inaction as markets keep expecting a sooner end to the rate hike trajectory at the major central banks. Also favoring the sentiment, as well as the XAU/USD, could be the upbeat statements from China Communist Party's Politburo meeting and China state planner National Development and Reform Commission (NDRC) suggesting more stimulus from Beijing.
GOLD SELL 1963 - 1966💯💯
✅ TP1: 1958
✅ TP2: 1950
🛑 SL: 1970
Gold Price remains on a firmer footing despite the latest inaction as markets keep expecting a sooner end to the rate hike trajectory at the major central banks. Also favoring the sentiment, as well as the XAU/USD, could be the upbeat statements from China Communist Party's Politburo meeting and China state planner National Development and Reform Commission (NDRC) suggesting more stimulus from Beijing.
GOLD SELL 1963 - 1966💯💯✅ TP1: 1958
✅ TP2: 1950
🛑 SL: 1970
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