Gold prices rebounded in yesterday’s trading session after Fed Chairman Powell made ambiguous remarks about the possibility of continuing interest rate cuts in December.
This move has fueled investor expectations that the Fed will continue to lower interest rates, making gold more attractive to foreign investors as U.S. rates fall further. As a result, gold is once again being added to investment portfolios, supporting its continued upward momentum.
Additionally, with growing risks of U.S.–China trade tensions, inflation, or further monetary easing, the safe-haven sentiment is becoming increasingly favored—another factor likely to support gold’s strong rise in the near future.
Therefore, the current gold price may be in a consolidation phase, waiting for a breakout once any strong macroeconomic news emerges to justify gold’s bullish momentum.
Technical analysis:
Buy opportunities at the following levels:
1: Buy at 400x target 405x – 4100
2: Buy at 396x target 400x – 405x – 4100
Trí Hùng
Leave a Reply