XAUUSD - Gold trading strategy on September 20
World gold prices calmly wait for information related to the US Federal Reserve's (FED) monetary policy meeting on September 20 (US time) and the host country's press conference. then Fed Jerome Powell. Both bulls and bears are clearly waiting cautiously for the Fed's monetary policy decision in the near future.
Currently, most markets predict that the Federal Open Market Committee (FOMC) - the Fed's policymaking mechanism - will support US monetary policy and not raise interest rates at this meeting. .
Looking ahead, analysts at Capital Economics predict gold is likely to fall to $1,800 per ounce by the end of the year as the US economy continues to grow and gradually adopts a deceleration. Demand for precious metals will decline more than investor demand for gold as the hedge against dangerous and high-risk economic downturns gradually declines. The US economy in the fourth quarter will only weaken slightly before recovering next year. The US finding is forecast to move closer to the Fed's 2% target by mid-2024. However, analysts note that gold prices have had a "significant recovery" since the beginning of the year. 2022 even as long-term real interest rates rise sharply.
Currently, most markets predict that the Federal Open Market Committee (FOMC) - the Fed's policymaking mechanism - will support US monetary policy and not raise interest rates at this meeting. .
Looking ahead, analysts at Capital Economics predict gold is likely to fall to $1,800 per ounce by the end of the year as the US economy continues to grow and gradually adopts a deceleration. Demand for precious metals will decline more than investor demand for gold as the hedge against dangerous and high-risk economic downturns gradually declines. The US economy in the fourth quarter will only weaken slightly before recovering next year. The US finding is forecast to move closer to the Fed's 2% target by mid-2024. However, analysts note that gold prices have had a "significant recovery" since the beginning of the year. 2022 even as long-term real interest rates rise sharply.
TP1: 1928
TP2: 1934
SL: 1912