After a strong increase, XAU will decrease because of investors'
After the US Federal Reserve announced that it would cut interest rates next year.
In addition to the central bank meeting, investors will also be keeping an eye on the European Union (EU) summit, which begins next Thursday in Brussels.
The summit comes at a critical time for Ukraine, as the Biden administration has so far failed to pass a $60 billion aid package through Congress and the war with Russia enters a bitter winter. Ru.
The Fed has acknowledged slowing inflation, raising expectations for rate cuts, but it has also led to sharp declines in bond yields and the U.S. dollar. These are all factors that support the price of gold
In addition to the central bank meeting, investors will also be keeping an eye on the European Union (EU) summit, which begins next Thursday in Brussels.
The summit comes at a critical time for Ukraine, as the Biden administration has so far failed to pass a $60 billion aid package through Congress and the war with Russia enters a bitter winter. Ru.
The Fed has acknowledged slowing inflation, raising expectations for rate cuts, but it has also led to sharp declines in bond yields and the U.S. dollar. These are all factors that support the price of gold
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Hit TP1: + 200 pips
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TP1: 2020
TP2: 2010
SL: 2050