After the news about Governor Cook’s resignation, people continued selling the U.S. dollar and buying gold. This made gold prices stay strong. Yesterday, Treasury Secretary Bessent also criticized the Federal Reserve Board (FRB), calling it an ‘irresponsible institution,’ which increased worries about political pressure.
Since April this year, the price level around 3440 has stopped gold from rising many times, so it is seen as strong resistance.
Before the release of the PCE price index and the Consumer Sentiment Index tomorrow, be careful about selling for profit-taking.
Expected Gold Price Range: 3,370 – 3,420 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.