XAUUSD - After the FOMC meeting, what will the gold price be lik
The gold position went sideways in the context that the USD did not fluctuate much when the Fed did not have any unexpected moves as expected by the market.
The USD hangs high with the DXY index around 105 points as Fed officials still have a hawkish tone.
The USD remains supported by policy currencies in many countries.
However, today, September 19, the Bank of China (PBOC) surprised everyone by deciding to keep the basic interest rate unchanged, despite the country's economy showing not very positive signals.
As for the US, rising oil prices make the world's No. 1 economy unable to have a "soft landing".+
Historically, high energy prices have brought the United States into recession in the 1970s, 1980s and 1990s. High inflation has created a decline in consumer demand, thereby dragging the economy down.
If this aspect is followed, the USD will be negatively affected.
However, when investments hit the weakening US economy, cash flows often go to safe storm channels, including gold and the USD.
In the short term, the USD is assessed to still be able to increase or the price level is definitely at a high level. The Fed is forecast to raise interest rates one more time to prolong the ability to generate capital, which is still quite high to achieve. target 2%.
Precious metal products, in doing so, are also subject to downward pressure. However, the competition for gold has recently increased and has increased further in the upcoming gold spending peak season. This is the end of the year in the West and Lunar New Year in some Asian countries, including China.
The USD hangs high with the DXY index around 105 points as Fed officials still have a hawkish tone.
The USD remains supported by policy currencies in many countries.
However, today, September 19, the Bank of China (PBOC) surprised everyone by deciding to keep the basic interest rate unchanged, despite the country's economy showing not very positive signals.
As for the US, rising oil prices make the world's No. 1 economy unable to have a "soft landing".+
Historically, high energy prices have brought the United States into recession in the 1970s, 1980s and 1990s. High inflation has created a decline in consumer demand, thereby dragging the economy down.
If this aspect is followed, the USD will be negatively affected.
However, when investments hit the weakening US economy, cash flows often go to safe storm channels, including gold and the USD.
In the short term, the USD is assessed to still be able to increase or the price level is definitely at a high level. The Fed is forecast to raise interest rates one more time to prolong the ability to generate capital, which is still quite high to achieve. target 2%.
Precious metal products, in doing so, are also subject to downward pressure. However, the competition for gold has recently increased and has increased further in the upcoming gold spending peak season. This is the end of the year in the West and Lunar New Year in some Asian countries, including China.
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TP1: 1922
TP2: 1916
SL: 1938