GOLD - creates an upward double bottom

23 May 2023

Gold prices rebounded after falling to a 2-month low when Fed leaders gave reassurances on monetary policy. Fed Chairman Jerome Powell suggested that due to uncertainties in the banking sector, interest rates may not rise much, indicating a potential pause in rate hikes. This led to speculation that the Fed may not raise interest rates in June. As a result, gold prices are expected to reach the 1,980 USD/ounce level in the near future, before quickly returning to 2,000 USD/ounce.

23 May 2023

Not

GOLD uptrend