The Fed may be done raising interest rates, positive for gold
World gold prices lost traction and retreated to the $1,940 area, erasing previous gains in the process. The US bond market is closed for the Labor Day holiday on Monday, making it difficult for gold to gain directional momentum.
Precious metals will depend on what happens to Treasury yields ahead of the September FOMC meeting
Friday's data today proved to be a rebound in US job growth in August, but the failure rate rose to 3.8% and wage growth moderated, trying temporarily. stop interest rates this month.
Up to 93% of facilities support stable interest rates in the September meeting. For the November meeting, the possibility of an unchanged interest rate decision has increased to 62%.
Documentation since the most recent key meeting has added to the impression that the US economy is cooling without cracking, reinforcing the argument against further rate hikes and in turn supporting Gold Performance.
Precious metals will depend on what happens to Treasury yields ahead of the September FOMC meeting
Friday's data today proved to be a rebound in US job growth in August, but the failure rate rose to 3.8% and wage growth moderated, trying temporarily. stop interest rates this month.
Up to 93% of facilities support stable interest rates in the September meeting. For the November meeting, the possibility of an unchanged interest rate decision has increased to 62%.
Documentation since the most recent key meeting has added to the impression that the US economy is cooling without cracking, reinforcing the argument against further rate hikes and in turn supporting Gold Performance.
Comment:
Running +20Pips ✅✅
Comment:
Close +40Pips ✅✅
✅TP1: 1942
✅TP2: 1947
🚫SL: 1925