XAUUSD - Gold reversed and strengthened

World gold prices this morning continued to increase strongly with spot gold increasing by 22.9 USD, increasing to 1,946.9 USD/ounce. Gold futures last traded at $1,968.30 an ounce, up $32.60 from the bright spot.

Developments in the Middle East have triggered hidden buying momentum in the gold market, bringing this precious metal to its highest level since September 20 in the evening trading session of October 18 (Vietnam time).

Carlo Alberto De Casa, market analyst at Kinesis Money, said that the current developments in the Israel-Hamas conflict are reducing the likelihood that the US Federal Reserve (Fed) will raise interest rates in the coming months. a few make it to the main list. In that context, gold will benefit.

De Casa added that, if tensions become more tense or central banks signal a drawdown, gold is likely to stay at $2,000 an ounce.

Gold is considered a safe haven in times of political and financial instability. Since the conflict in the Middle East broke out, gold has rallied more than $100 despite strong US economic data that offered higher yields for longer, a factor that is unfavorable for the asset. profitable as gol

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XAUUSD BUY SCALPING 1938-1940

✅TP1 1945
✅TP2 1950
❌SL 1933

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XAUUSD BUY 1927-1929

✅TP1 1935
✅TP2 1942
❌SL 1920

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For now, consultants await Fed Chairman Jerome Powell's speech on Thursday for further clues on the pace following recent dovish comments from some US policymakers. According to the CME FedWatch tool, markets are pricing in a 90% chance that the Fed will maintain interest rates at its policy meeting next month. The brightness of the day number is 67%.