XAUUSD - The greenback is green, gold continues to fall
The radiant world gold price now continued its decline with spot gold down 10.2 USD to 1,891.4 USD/ounce. Gold futures in December traded at the end of the period at $1,928.3 per ounce, down $6.9 from the previous morning.
Gold trades near a six-month low after the minutes of the central bank's July monetary policy meeting were drawn up. The minutes showed that the US Federal Reserve (Fed) still maintained a "hawkish" view on monetary policy and to oppose other options to raise interest rates due to high pressure to use.
“Participants further assessed that it is important that the stance of monetary policy be restrained enough to use a return to the 2% target. They note that the truth is uncertain about the economic outlook. remain high and agree that policy decisions at future meetings will depend on the data and its implications for the economic outlook and use as well as for the balance of risks." the minutes said.
The Fed's round of aggressive monetary policy tightening becomes the most feared for gold, and the precious metal continues to struggle in this environment.
Gold trades near a six-month low after the minutes of the central bank's July monetary policy meeting were drawn up. The minutes showed that the US Federal Reserve (Fed) still maintained a "hawkish" view on monetary policy and to oppose other options to raise interest rates due to high pressure to use.
“Participants further assessed that it is important that the stance of monetary policy be restrained enough to use a return to the 2% target. They note that the truth is uncertain about the economic outlook. remain high and agree that policy decisions at future meetings will depend on the data and its implications for the economic outlook and use as well as for the balance of risks." the minutes said.
The Fed's round of aggressive monetary policy tightening becomes the most feared for gold, and the precious metal continues to struggle in this environment.
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Running +15Pips✅✅
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Close Buy +50Pips ✅✅
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We believe the Fed is nearing the end of its bull cycle, the USD remains in a structural downtrend and the tightening of signal conditions could be a risk to the economy. These create a supportive scene for gold
✅ TP1: 1898
✅ TP2: 1906
🛑 SL: 1882