Gold increased slightly on the first day of the new week

Hello everyone, It's great to see you again during this exciting week in the market!

Today, the opening of the gold trading session saw a slight increase in prices, reaching $1929-1930 amidst a slight decrease in the value of the USD. Meanwhile, the US Dollar Index (DXY), which measures fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), dropped by 0.1% to 105.22. This supported the price of gold.

Regarding this week's gold price forecast, out of 415 retail investors who participated in an online survey about it: 180 respondents (43%) believe that gold will rise while another group of 156 people (38%) predict a decrease in its value.

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good luck

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Gold still needs to wait for more information from the Fed to have a clearer move

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Marc Chandler, Managing Director at Bannockburn Global Forex, expects gold to rise this week despite being dominated by central bank interest rate announcements.

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Gold's next targets will be 1938, 1945 and ultimately 1950 USD.

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Currently, today's gold price continues to show strength with gold trading around the $1933 mark. It is evident that this metal is still demonstrating its power as there have been significant increases in price since it touched the $1900 mark.

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The greenback cooled down because the US Federal Reserve (Fed) is expected to temporarily stop raising interest rates during the September 19-20 session.

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Gold prices are moving sideways after the Fed's decision