Hi, dear friends, let's explore gold prices after the big fluctuations yesterday!
Regarding the developments and outcomes of the news on November 1st:
Gold prices experienced significant fluctuations on Wednesday evening, approaching the $2,000 mark ahead of the Federal Reserve's policy announcements. This came as the US dollar delayed its recovery amidst slow bond interest rates and a mixed market sentiment. However, gold prices changed course and tested the round figure of $1,970 in an immediate reaction to the Fed's lack of policy action, contrary to many expectations. The US Federal Reserve kept its key policy interest rates unchanged within the current range of 5.25% - 5.50%.
Conclusion on gold and trends:
Gold prices gained positive momentum on Thursday due to reduced US bond interest rates and a weaker US dollar. Political tensions and China's economic difficulties also contributed to the positive sentiment of the day, resulting in a 0.24% increase in gold prices, trading around $1,987.
The trading strategy of "buying on price declines" for gold continues as long as the significant static support level of $1,963 is maintained. Fibonacci also indicates a retreat of gold prices at 0.786. The upward trend may strengthen further if it receives strong buying support from this level of support.
Regarding the developments and outcomes of the news on November 1st:
Gold prices experienced significant fluctuations on Wednesday evening, approaching the $2,000 mark ahead of the Federal Reserve's policy announcements. This came as the US dollar delayed its recovery amidst slow bond interest rates and a mixed market sentiment. However, gold prices changed course and tested the round figure of $1,970 in an immediate reaction to the Fed's lack of policy action, contrary to many expectations. The US Federal Reserve kept its key policy interest rates unchanged within the current range of 5.25% - 5.50%.
Conclusion on gold and trends:
Gold prices gained positive momentum on Thursday due to reduced US bond interest rates and a weaker US dollar. Political tensions and China's economic difficulties also contributed to the positive sentiment of the day, resulting in a 0.24% increase in gold prices, trading around $1,987.
The trading strategy of "buying on price declines" for gold continues as long as the significant static support level of $1,963 is maintained. Fibonacci also indicates a retreat of gold prices at 0.786. The upward trend may strengthen further if it receives strong buying support from this level of support.
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Gold price is moving increasing as expected. Pause transactions at 1992 USD
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Trading is getting closer to the goal
Trade stängt: målet nått
