Gold price XAUUSD fell sharply in the week by a total of nearly 1.7%, especially after the US Federal Reserve (Fed) released the minutes of its early February meeting showing that policymakers were more interested in raising interest rates. more to control inflation.
Gold's decline continued after the number of US jobless claims fell and the country's inflation accelerated while consumer spending rebounded sharply to 1.8% in January. reinforces the news that the Fed will maintain a "hawkish" stance.
Therefore, many opinions have become pessimistic about the short-term forecast of gold. The Kitco News gold price trend survey this week with the participation of 20 Wall Street analysts found that 13 people, accounting for 65%, think that gold will continue to decline. There are 5 people, or 25%, who think the price of gold is flat and the remaining 2 analysts expect the precious metal to rise.
Meanwhile, this week's Main Street online poll attracted 596 individual investors, the rate of decline is the highest with 253 people, accounting for 42%. However, the number of people who think gold will increase is also close with 230 people, or 39%, and the remaining 113 investors, equivalent to 19%, think the precious metal will go flat.
Trading recommendation:
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Sell 1827 - 1831
Stop loss: 1833
Take profit 1: 1823
Take profit 2:1820
Take profit 3: 1810
Note: Always set TP and SL in all trading cases
Gold's decline continued after the number of US jobless claims fell and the country's inflation accelerated while consumer spending rebounded sharply to 1.8% in January. reinforces the news that the Fed will maintain a "hawkish" stance.
Therefore, many opinions have become pessimistic about the short-term forecast of gold. The Kitco News gold price trend survey this week with the participation of 20 Wall Street analysts found that 13 people, accounting for 65%, think that gold will continue to decline. There are 5 people, or 25%, who think the price of gold is flat and the remaining 2 analysts expect the precious metal to rise.
Meanwhile, this week's Main Street online poll attracted 596 individual investors, the rate of decline is the highest with 253 people, accounting for 42%. However, the number of people who think gold will increase is also close with 230 people, or 39%, and the remaining 113 investors, equivalent to 19%, think the precious metal will go flat.
Trading recommendation:
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Sell 1827 - 1831
Stop loss: 1833
Take profit 1: 1823
Take profit 2:1820
Take profit 3: 1810
Note: Always set TP and SL in all trading cases
