In this morning's trading session, world gold prices fell more than 1%, after the US's hot inflation report dimmed the prospect that the US Federal Reserve (FED) would soon cut interest rates.
World gold reversed and fell sharply after a series of high increases
The Fed will enter a cycle of interest rate cuts and precious metals will be strongly supported.
However, the market often reflects expectations in advance. Gold has increased in price very strongly since the end of 2023 and over the first 2 months of 2024. The possibility of gold prices continuing to skyrocket is no longer highly appreciated.
Recently, many forecasts say that gold will increase in the second half of the year but at a slow pace. Most likely, gold price will reach 2,200
World gold reversed and fell sharply after a series of high increases
The Fed will enter a cycle of interest rate cuts and precious metals will be strongly supported.
However, the market often reflects expectations in advance. Gold has increased in price very strongly since the end of 2023 and over the first 2 months of 2024. The possibility of gold prices continuing to skyrocket is no longer highly appreciated.
Recently, many forecasts say that gold will increase in the second half of the year but at a slow pace. Most likely, gold price will reach 2,200
Nota
SELL XAU 2160 - 2157TP1: 2150
TP2: 2140
SL: 2170
Nota
running + 20 pipsNota
Hit TP 1 + 100 pips
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.