OANDA:XAUUSD   Gold Spot / U.S. Dollar
Let's start today's analysis with a quote

A smart man makes a mistake, learns from it, and never makes that mistake again.

This quote is truly dedicated to those who obviously didn't listen to us and we are hopeful that you will never make this mistake again.

Update-Three positions are active in our portfolio, Two of them dedicated to gold and one is a silver trade where we took the entry at $15 last week.

most analyst tends to change there bias because of a very short term price movement but that's not how we work, In order to gain significant profit from the market, we always tend to focus on the long term picture of the precious metal market and try to ignore short term price fluctuations

At the time of publishing this report gold is trading at $1270 per ounce however the white metal is hovering around $14.60.we have witnessed the yellow metal to hit a 5 month low today but the real question is how much more room left for gold and silver to slide from these levels? The short answer is a lot.

Federal Open Market Committee (FOMC) statement and press conference on Wednesday from Fed Chairman Jerome Powell adds more pressure on the precious metal sector and a result we have seen Gold prices to sell off in the aftermath of the news.The interesting part is that the sense of the market place towards Federal Open Market Committee (FOMC) statement and press conference on Wednesday from Fed Chairman Jerome has changed from being dovish to hawkish. The FOMC statement suggests that some members were worried that inflation is too low which the market participants took as dovish news on monetary policy however fed chairman cleared all the doubts at the press conference when he asked about low inflation , he said elements causing present lower inflation are “transitory. The market place has sensed this statement as a bit hawkish on U.S monetary policy .

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