XAUUSD - Gold increased slightly, strategy to sell XAUUSD
The gold market maintained stability after a period of short-term price increases, reflecting concerns about the US job market and information from the Federal Reserve about increasing interest rates.
Spot gold edged up 0.1% to $1,918.68 an ounce by 1:47 p.m. EDT (17:47 GMT) after hitting a one-week low on Wednesday. Meanwhile, US gold futures prices decreased slightly by 0.1% to reach 1,942.50 USD/ounce.
According to the CME FedWatch tool, traders expect a 93% chance the Fed will maintain interest rates at its upcoming meeting on September 19-20.
Meanwhile, silver fell about 1% to $22.95 an ounce. Platinum lost 0.3% to $905.75. Palladium fell 0.1% to $1,214.11.
Spot gold edged up 0.1% to $1,918.68 an ounce by 1:47 p.m. EDT (17:47 GMT) after hitting a one-week low on Wednesday. Meanwhile, US gold futures prices decreased slightly by 0.1% to reach 1,942.50 USD/ounce.
According to the CME FedWatch tool, traders expect a 93% chance the Fed will maintain interest rates at its upcoming meeting on September 19-20.
Meanwhile, silver fell about 1% to $22.95 an ounce. Platinum lost 0.3% to $905.75. Palladium fell 0.1% to $1,214.11.
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Running +30Pips
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Gold price retraces when under pressure by the breakthrough of USD. The US Dollar Index soared to nearly 105 points as consultants sought solutions to hedge against concerns about global economic growth.
🟢TP: 1922
🟢TP: 1915
🔴SL: 1936