Gold Prices Fell Slightly, the Fed's Resolution is Coming!
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1.
Gold trading reminder: ‘horror data’ stronger than expected, gold prices fell slightly, the Fed's resolution is coming! $Gold - main 2412(GCmain)$
Wednesday (18 September) Asian morning spot gold shock rose slightly, currently trading in the vicinity of 2572 U.S. dollars. Gold prices in the last trading day from record highs fell slightly to close at $2569.35, as the U.S. August retail sales monthly rate stronger than market expectations, the dollar and U.S. bond yields rebounded, while some traders will be more single profit-taking, for the Federal Reserve may make a decision to cut interest rates this week to make preparations.
It should be reminded that the market has been partially digested by the Federal Reserve on Wednesday to cut interest rates by 50 basis points is expected, so regardless of the rate cut of 25 basis points or 50 basis points, investors need to beware of ‘boots on the ground’ market, then there may be a large number of more than a single profit-taking, which dragged down the trend of the price of gold.
And history has repeatedly appeared similar market: gold prices in the Fed before the rate cut, continued to be supported by the rate cut is expected to rise, but the Fed really after the rate cut, gold prices but shocked weakened. $XAU/USD(XAUUSD.FOREX)$
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