Is GOLD on an upward trend? Seize the opportunity!Hello dear readers, today let's join Jessica in updating the situation of gold and its trends!
In yesterday's fourth session, Gold continued its recovery during the US session following the release of the CPI news.
However, early this morning, the FOMC meeting caused a sharp drop in the price of gold, indicating that the selling side still holds dominance at this time.
Currently, we will await selling at price levels at the upper boundary of the price channel, or when the price breaks below the channel and rebounds below. The selling zone is around 231x.
In terms of news: The Federal Reserve is expected to implement two interest rate cuts this year, potentially leading to a weaker USD, which could be beneficial for the price of gold.
If you have any other opinions, feel free to share them with Jessica!