AhmadRad

Gold Monthly Analysis

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Few days ago Fed have rose money rate to fight inflation, this made gold weak against dollar. But I think this effect is temporary. as you see the chart, a sharp daily candle has changed neutral trend, which nearly had zero slope. then gold price decreased , and EMA's slope got increasingly descending. based on this explanation, the price tends to gets low as 1770. and if the Fed not apply more contractionary policy, the inflation pressure could push the price to 1900 during four or six next weeks. briefly monthly price range could be 1770 to 1900.
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