GOLD - CB short trading newsletter, gold selling strategy
Gold prices this morning extended their decline for the 4th straight session as the market was cautiously awaiting information on my monetary policy at the Federal Reserve's (FED) meeting this week.
Gold price on July 25 decreased slightly before the meeting of the Fed Photo 2
Gold price chart in the morning of July 25. (Photo: kitco.com)
A rally in the dollar and Treasury yields also weighed on precious metals prices, as investors turned to the greenback ahead of the Fed meeting.
The recent consecutive downward corrections made the gold price return to the threshold of 1,950 USD/ounce. Experts believe that gold price this week will pass through $1,950 as a support level as the market is still waiting for the upcoming decision of the Fed.
Most market watchers believe that the Fed will raise interest rates by 0.25 percentage points (25 basis points) at the end of its meeting on July 26. The market will be closely scrutinizing the statement of the Federal Open Market Commissioner (FOMC), the main policy-making basis of the Fed, and the comments of the Fed Chairman Jerome Powell at the press conference that follows to grasp the view and the path of the Fed's monetary policy in the coming months.
Gold price on July 25 decreased slightly before the meeting of the Fed Photo 2
Gold price chart in the morning of July 25. (Photo: kitco.com)
A rally in the dollar and Treasury yields also weighed on precious metals prices, as investors turned to the greenback ahead of the Fed meeting.
The recent consecutive downward corrections made the gold price return to the threshold of 1,950 USD/ounce. Experts believe that gold price this week will pass through $1,950 as a support level as the market is still waiting for the upcoming decision of the Fed.
Most market watchers believe that the Fed will raise interest rates by 0.25 percentage points (25 basis points) at the end of its meeting on July 26. The market will be closely scrutinizing the statement of the Federal Open Market Commissioner (FOMC), the main policy-making basis of the Fed, and the comments of the Fed Chairman Jerome Powell at the press conference that follows to grasp the view and the path of the Fed's monetary policy in the coming months.
✅ TP1: 1965
✅ TP2: 1958
✅ TP3: 1945
🛑 SL: 1980