Two Weeks Ago , Federal Reserve has confirmed that they will continue incresing the interest rate progressively , sso that will affect the metal gold to go down deeper and deeper , and all technical’s indicators confirm this . What do you thing so ?
Yes, I agree. I think the FED raising rates further will hit Gold and Silver prices and push them to the downside. I am thinking that Gold will be able to break the 1800 lvl to the downside and Silver will break the 20 lvl to the down side. The FED is projected to raise rates by 0.25% in the upcoming meeting, but before then is the NFP and inflation data. If the NFP comes out higher and inflation stays above 6%, the FED might decide to raise rates by 0.50% which will hit Gold and Silver prices and likely push them to break their respected support lvls.