Gold increased slightly on the first day of the new week

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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