Gold hit a one-week low Thursday after the Federal Reserve vowed to hike rates until inflation returns to its annual target of 2% — a pledge market followers said could deliver more downside for the yellow metal.
Gold sank after the 10-year yield on U.S. treasuries hit an intraday peak of 4.495, its highest since 2007, reflecting a bond market in steep selloff. The Dollar Index, meanwhile, hit six-month highs, limiting buying of dollar-denominated commodities by holders of other currencies.
“We are prepared to raise rates further, if appropriate," Fed Chairman Jerome Powell told a news conference. "The fact that we decided to maintain the policy rate at this meeting doesn't mean we have decided that we have or have not at this time reached that stance of monetary policy that we are seeking."
⚡️SELL
XAUUSD
PRICE 1937 -1939
↠↠ STop 1945 →Profit 1930
⚡️BUY
XAUUSD
PRICE 1910 -1913
↠↠ STop 1907 →Profit 1922
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
Gold sank after the 10-year yield on U.S. treasuries hit an intraday peak of 4.495, its highest since 2007, reflecting a bond market in steep selloff. The Dollar Index, meanwhile, hit six-month highs, limiting buying of dollar-denominated commodities by holders of other currencies.
“We are prepared to raise rates further, if appropriate," Fed Chairman Jerome Powell told a news conference. "The fact that we decided to maintain the policy rate at this meeting doesn't mean we have decided that we have or have not at this time reached that stance of monetary policy that we are seeking."
⚡️SELL
XAUUSD
PRICE 1937 -1939 ↠↠ STop 1945 →Profit 1930
⚡️BUY
XAUUSD
PRICE 1910 -1913 ↠↠ STop 1907 →Profit 1922
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
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⚡️The yellow metal was also set for a muted weekly performance, having caught few bids amid growing concerns over rising interest rates.
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⚡️Gold ends week little changed, clinging to mid $1,900, despite hawkish Fed
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⚡️The US Dollar Index (DXY) continues to print modest gains, sitting at 105.56, potentially impacting gold’s rally
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⚡️The market seemed to stand still for 2 trading sessions this morning
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⚡️ This plan has been achieved.
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