Despite the challenges gold is facing in a high interest rate environment
The precious metal will remain stuck in its current range until the market knows for sure when the Fed will cut interest rates.
Gold's short-term direction will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, interest rate cut expectations.
A key pillar of gold's relative strength is ongoing geopolitical unrest. Over the past two years, gold has seen significant safe-haven appeal as investors sought to protect their assets due to concerns related to the two conflicts. However, in a recent report, experts said they see the growing climate crisis also positively impacting precious metals as it adds to geopolitical instability.
After failing to overcome the resistance at $2,040, XAU/USD has fallen back and is currently trading within a Triangle pattern, around $2,027. In addition, the RSI indicator on the daily chart is fluctuating around the 40.0 - 60.0 range, showing hesitation among investors, so gold prices may move sideways in the near future.
The precious metal will remain stuck in its current range until the market knows for sure when the Fed will cut interest rates.
Gold's short-term direction will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, interest rate cut expectations.
A key pillar of gold's relative strength is ongoing geopolitical unrest. Over the past two years, gold has seen significant safe-haven appeal as investors sought to protect their assets due to concerns related to the two conflicts. However, in a recent report, experts said they see the growing climate crisis also positively impacting precious metals as it adds to geopolitical instability.
After failing to overcome the resistance at $2,040, XAU/USD has fallen back and is currently trading within a Triangle pattern, around $2,027. In addition, the RSI indicator on the daily chart is fluctuating around the 40.0 - 60.0 range, showing hesitation among investors, so gold prices may move sideways in the near future.
노트
BUY Gold 2035 - 2033TP1: 2040
TP2: 2045
SL: 2030
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관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.