GOLD (October 19) | Activate shelter buying force in the market
Increasingly tense developments in the Middle East have triggered shelter-in-place buying in the
XAUUSD
market.
World gold price stood at 1,947 USD/ounce, up 7 USD/ounce compared to the same hour yesterday morning. There was a time when the gold price reached 1,961 USD/ounce, the highest level in nearly 3 months.
Increasingly tense developments in the Middle East have triggered shelter-in-place buying in the gold market. The Gaza government said that an airstrike on October 17 killed about 500 people at Al-Ahli hospital in the Gaza Strip. Hamas and the Israeli army are blaming each other for causing the tragedy.
Gold is considered a safe haven in times of political and financial instability. Since the conflict in the Middle East broke out, gold has risen more than $100 despite strong US economic data boosting the possibility of higher interest rates for longer.
XAUUSD
The risk of war is increasing. Those risks are also reducing the likelihood that the US Federal Reserve (Fed) will raise interest rates in the next few meetings. Therefore, we are witnessing a strong recovery in gold. If political scenarios worsen or if central banks give dovish signals to the market, it is likely that gold will stay at $2,000
XAUUSD
market. World gold price stood at 1,947 USD/ounce, up 7 USD/ounce compared to the same hour yesterday morning. There was a time when the gold price reached 1,961 USD/ounce, the highest level in nearly 3 months.
Increasingly tense developments in the Middle East have triggered shelter-in-place buying in the gold market. The Gaza government said that an airstrike on October 17 killed about 500 people at Al-Ahli hospital in the Gaza Strip. Hamas and the Israeli army are blaming each other for causing the tragedy.
Gold is considered a safe haven in times of political and financial instability. Since the conflict in the Middle East broke out, gold has risen more than $100 despite strong US economic data boosting the possibility of higher interest rates for longer.
XAUUSD
The risk of war is increasing. Those risks are also reducing the likelihood that the US Federal Reserve (Fed) will raise interest rates in the next few meetings. Therefore, we are witnessing a strong recovery in gold. If political scenarios worsen or if central banks give dovish signals to the market, it is likely that gold will stay at $2,000
Comment:
Cautious trading at the beginning of today's trading in the US markets, with anticipation of the US Federal Reserve Chairman's speech.
Trade active:
SELL +25 pips.🔽🔽🔽
Trade active:
SELL + 40 pips close a part move SL to entry.🔥
↠↠ STop 1924
→Profit 1 1935
↨
→Profit 2 1940
SELL XAUUSD PRICE 1976 - 1974⚡️
↠↠ STop 1980
→Profit 1 1969
↨
→Profit 2 1964