Gold Price (XAU/USD) remains dicey after pushing back the bearish bias with the first positive weekly close in five. The Yellow Metal’s latest inaction could be linked to the market’s anxiety ahead of this week’s top-tier US inflation and employment clues. In doing so, the XAU/USD fails to cheer the latest retreat in the US Treasury bond yields and the US Dollar, as well as China-linked optimism in Asia.
Apart from the pre-data caution, the Gold Price also bears the burden of the mixed statements from the US Federal Reserve (Fed) officials at the annual Jackson Hole Symposium. That said, major of the Fed officials defended restrictive monetary policies at last week’s key event but failed to suggest more rate hikes and also highlighted the data-dependency for future moves, which in turn suggests that Fed hawks are running out of steam.
Gold buy from 1914
Target 1921 if break from here then target 1930
Apart from the pre-data caution, the Gold Price also bears the burden of the mixed statements from the US Federal Reserve (Fed) officials at the annual Jackson Hole Symposium. That said, major of the Fed officials defended restrictive monetary policies at last week’s key event but failed to suggest more rate hikes and also highlighted the data-dependency for future moves, which in turn suggests that Fed hawks are running out of steam.
Gold buy from 1914
Target 1921 if break from here then target 1930
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Start in profit
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Keep hold
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50+ pips running
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Keep hold
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1921 hit target done
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Going for next target 1930
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Running 110 pips keep hold