GOLD - Trading strategy on October 7, forecast to increase again
Although optimism has returned, most investors are still waiting outside the market for new information.
Gold prices are likely to move higher in the near future. However, the lack of clarity from the US Federal Reserve (Fed) on the future monetary policy path is keeping many investors on the sidelines.
Gold is chasing and facing resistance Strong resistance between $1,945 and $1,955, the precious metal needs to break through these levels to bring confidence to the market. For gold prices to return to $2,000 an ounce, the Fed needs to make it clear that they're done raising rates.
Analysts from the World Gold Council (WGC) note that in the current environment, gold will have "less loss" and will receive more support to increase prices. It is this that makes gold an important asset in the investment portfolio.
XAUUSD SELL 1928 - 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
Gold prices are likely to move higher in the near future. However, the lack of clarity from the US Federal Reserve (Fed) on the future monetary policy path is keeping many investors on the sidelines.
Gold is chasing and facing resistance Strong resistance between $1,945 and $1,955, the precious metal needs to break through these levels to bring confidence to the market. For gold prices to return to $2,000 an ounce, the Fed needs to make it clear that they're done raising rates.
Analysts from the World Gold Council (WGC) note that in the current environment, gold will have "less loss" and will receive more support to increase prices. It is this that makes gold an important asset in the investment portfolio.
XAUUSD SELL 1928 - 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
