The world gold price stood at $1,965, equivalent to the price of the same hour last morning. The price of precious metals increases and decreases, fluctuates continuously and has no specific direction.
The gold market in the early trading session of the week contrasted with resistance ahead of the US central bank's monetary policy meeting and important US usage reports. Currently, the market is waiting for the Fed's monetary policy meeting to know what the next direction of the world's most powerful central bank is.
The Fed meeting will start on Tuesday (US time) and end on Wednesday as announced. After the meeting, Fed Chairman Powell will hold a press conference. The majority of the market still thinks the Fed will pause the austerity cycle. However, my better jobs report for the sixth week before adds the possibility that the Fed will make another rate hike this week.
The gold market in the early trading session of the week contrasted with resistance ahead of the US central bank's monetary policy meeting and important US usage reports. Currently, the market is waiting for the Fed's monetary policy meeting to know what the next direction of the world's most powerful central bank is.
The Fed meeting will start on Tuesday (US time) and end on Wednesday as announced. After the meeting, Fed Chairman Powell will hold a press conference. The majority of the market still thinks the Fed will pause the austerity cycle. However, my better jobs report for the sixth week before adds the possibility that the Fed will make another rate hike this week.
✅Buy order in the $1,940-$1,937 price zone when the support zone is approached.
✖️Stoploss: $1,934.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!