Gold keeps rising, and yesterday it even reached a new highest price.
However, before the Federal Open Market Committee (FOMC) meeting early tomorrow morning, the market has already started to expect a large rate cut of 0.5%. This may be too much, and it could cause gold to fall. In the New York stock market, all three main indexes have also gone down, so there is a chance that gold will also face selling and move lower.
But if the FOMC shows more cuts than before, and if Chairman Powell shows a strong will to keep cutting rates, the fall in gold may be limited.
Expected gold-dollar range: 3,630 – 3,685 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.