XAUUSD tends to increase

2 thg 10, 2023

The decline in gold prices is closely related to the rise of the US dollar and US bond yields, especially the 10-year bond yield which has reached its highest level since October 2007, surpassing 4.6 %.
Kevin Grady, President of Phoenix Futures and Options, noted that gold is facing a major challenge due to predictions that the US Federal Reserve (Fed) has no plans to lower interest rates anytime soon. Meanwhile, the expected increase in interest rates has lost the appeal of holding gold, which does not bring yield
Jeffrey Christian, CEO at CPM Group, said that although gold prices are struggling, it still maintains a higher price floor compared to last year. He noted that gold can build a new foundation at current prices as the US economy continues to grow, but there are also risks of a future recession.
Christopher Vecchio, head of Futures and Forex at Tastylive.com, said gold prices could fall as low as $1,800 an ounce, but also noted that as the economy weakens, gold prices could become Long-term buying opportunity.

GOLDBUY 1840-1842

✔️TP : 1846
✔️TP : 1850

⚠️SL : 1838