Gold quietly waiting for Fed's decision
Hello, Karina's amazing friends!
Today, gold continues to move calmly and there aren't many changes compared to yesterday, trading around $1995 - $1996.
Although we are currently optimistic about the potential increase in gold prices due to geopolitical tensions in the Middle East, we still need to keep an eye on the Federal Reserve's interest rate decision on Wednesday. This could be seen as a significant milestone to boost gold prices as gold has been relatively stable in recent days, so any important action from the Fed could cause a strong increase or decrease in gold.
Resistance level on the chart: $2005
Support levels: $1965, $1980.
Today, gold continues to move calmly and there aren't many changes compared to yesterday, trading around $1995 - $1996.
Although we are currently optimistic about the potential increase in gold prices due to geopolitical tensions in the Middle East, we still need to keep an eye on the Federal Reserve's interest rate decision on Wednesday. This could be seen as a significant milestone to boost gold prices as gold has been relatively stable in recent days, so any important action from the Fed could cause a strong increase or decrease in gold.
Resistance level on the chart: $2005
Support levels: $1965, $1980.
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