XAUUSD - Market decline, buying strategy to expand scale
On the world market, the gold trading price on the Kitco floor ended the last trading session at 1,924 USD/ounce.
The direction of gold will be more clearly determined this week after the US Federal Reserve (Fed) decides on monetary policy at its meeting on September 20-21 (US time). According to professional forecasts, it is likely that the Fed will not raise interest rates, but will still maintain the current high level.
According to the CME FedWatchTool, the 60% interest rate remains unchanged between now and the end of the year.
Edward Moya, senior market analyst at OANDA, said Chinese banks have a general message that the interest rate cycle is about to end. That creates more appeal.
Although it still seems not ready for a breakthrough, the peaceful moves of central banks continue to support gold prices.
The direction of gold will be more clearly determined this week after the US Federal Reserve (Fed) decides on monetary policy at its meeting on September 20-21 (US time). According to professional forecasts, it is likely that the Fed will not raise interest rates, but will still maintain the current high level.
According to the CME FedWatchTool, the 60% interest rate remains unchanged between now and the end of the year.
Edward Moya, senior market analyst at OANDA, said Chinese banks have a general message that the interest rate cycle is about to end. That creates more appeal.
Although it still seems not ready for a breakthrough, the peaceful moves of central banks continue to support gold prices.
TP1: 1922
TP2: 1928
SL: 1909