Lower performance reduces the opportunity cost of holding gold

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Gold prices are under pressure as the US Federal Reserve (FED) signals a moderate pace in the next safety break. According to Kitco, FED Chairman Jerome Powell has just taken a rather positive tone, noting that "the economy is in a solid state."

“Looking ahead, if the economy develops as expected, policy will shift in a more neutral direction. But we don't have any predefined programs. The risks are two-sided and we will continue to make our decisions with each competition.

Our decision to reduce interest rates by 50 basis points reflects our idea that, with appropriate calibrating of school policies, labor market strength can be maintained. , in the context of economic growth and the possibility of inflation falling firmly to 2%," Mr. Powell said.

💎 XAUUSD Buy 2624 - 2627💎

✔️TP1: 2647
✔️TP2: 2657
✔️TP3: OPEN

🚫SL: 2619

➖➖➖➖➖➖➖➖

💎 XAUUSD Sell 2657 - 2655💎

✔️TP1: 2647
✔️TP2: 2637
✔️TP3: OPEN

🚫SL: 2663