Sign up to receive our personalized investment offer.

What will happen to Gold, based on Jerome Powell’s speech?


The precious metal has been supported recently due to the bearishness around the U.S. dollar based on Fed's cautious rhetoric when it comes to raising interest rates.
The DXY was down to near a two-month low last week, losing -0.4% on the session and closing up at around 92.80.
Gold prices rose today as the dollar touched a two-month low versus the euro, but gains were limited despite a retreat in Asian equities led by China.
However, we think it’s a high probability this week Gold to fall, as the USD will rise based on tomorrow’s potential dovish statement of Jerome Powell, the next Federal Reserve chairman.




download Telegram logo twitter2

Sign up to receive a personalized investment offer.