XAUUSD → Maintain position, wait for price increase momentum

World gold price stood at 1,925 USD/ounce, inching up slightly by 2 USD/ounce compared to the same hour yesterday morning. The precious metal price remains neutral after many unfavorable information. Many experts believe that recent price action proves that investors are taking a more cautious stance to protect themselves from recession.

The fact that gold maintains a solid support level above 1,900 USD/ounce amid surrounding difficulties is a good sign that the market is ready for a new uptrend when the trend reverses. Expect investment demand for gold to increase as investors realize the value it creates for investment portfolios.

Comment:

Gold is doing very well, despite Mr. Powell's hawkish views. The risks that the economy will break down are rising and eventually bad news for the economy will boost safe-haven flows to gold.

Comment:

For nearly a month, gold has fluctuated back and forth between $1,900/ounce and $1,950/ounce. This range should remain in place for at least a few more weeks.

Comment:

Retail investors clearly expressed their view that gold prices will increase sharply in the near future. Many opinions have been expressed that the gold price will trade around 1,936 USD/ounce, 12 USD higher than predicted last week.

Comment:

🕯 BUY GOLD |  1912 - 1914

🔴 SL: 1908

🟢 TP1: 1920
🟢 TP2: 1925

Trade active:

Running +20pip✅✅✅

Comment:

Gold is in a consolidation phase after prices failed to sustain above $1,930/ounce last week. In addition, this expert also added that bullion could be further pressured towards the important psychological level of 1,900 USD/ounce, if the Fed raises interest rates.

Comment:

After the FOMC event, FED data clearly shows that DXY is very healthy
So the time after that GOLD decreased + Stock decreased because the money flow moved to DXY so its decline was high.
Money is King, USD is King

Comment:

Initial resistance is expected to be around 1,850 USD/ounce. The perception that higher inflation means higher interest rates makes non-interest-bearing metals somewhat worse off. If as predicted, gold will slide to 1,840 USD/ounce.