In just yesterday's session, gold surged by +32.520 USD (+0.97%), equivalent to more than 320 pips. A shocking rise caught the market off guard.
The cause was Fed Chairman Jerome Powell's speech at the Jackson Hole conference, where he hinted at the possibility of an interest rate cut as soon as September. This dovish message weakened the USD, reduced bond yields, and triggered a flow of money into safe-haven assets like gold.
Meanwhile, with calls for interest rate cuts from the Trump administration and concerns about an economic slowdown, gold is likely to rise in the future. President Trump criticized the Fed and called for aggressive rate cuts to boost the economy. If this policy is implemented, the USD could weaken further, making gold an even more attractive investment option.
Technical analysis: Traders may consider the next targets as 3,410 USD (TP1) and 3,434 USD (TP2). With EMA (89 and 34) indicators supporting the uptrend, investors might consider buying around 3,370 USD if gold experiences a slight short-term pullback, expecting the price to continue rising if macroeconomic factors remain favorable.
In conclusion, all factors are currently supporting gold's uptrend. We will continue to monitor developments in the coming days, particularly decisions from the Fed and global economic factors that may impact gold.
The cause was Fed Chairman Jerome Powell's speech at the Jackson Hole conference, where he hinted at the possibility of an interest rate cut as soon as September. This dovish message weakened the USD, reduced bond yields, and triggered a flow of money into safe-haven assets like gold.
Meanwhile, with calls for interest rate cuts from the Trump administration and concerns about an economic slowdown, gold is likely to rise in the future. President Trump criticized the Fed and called for aggressive rate cuts to boost the economy. If this policy is implemented, the USD could weaken further, making gold an even more attractive investment option.
Technical analysis: Traders may consider the next targets as 3,410 USD (TP1) and 3,434 USD (TP2). With EMA (89 and 34) indicators supporting the uptrend, investors might consider buying around 3,370 USD if gold experiences a slight short-term pullback, expecting the price to continue rising if macroeconomic factors remain favorable.
In conclusion, all factors are currently supporting gold's uptrend. We will continue to monitor developments in the coming days, particularly decisions from the Fed and global economic factors that may impact gold.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.