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Gold: Focus On Fed

By Helen RushForexJun 13, 2018 10:19AM ET
www.investing.com/analysis/gold-focus-on-fed-200324530
Gold: Focus On Fed
By Helen Rush   |  Jun 13, 2018 10:19AM ET
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Spot gold remains under a bearish pressure after yesterday’s drop. The yellow metal has been trading below the key $1,300 mark since early-June and still doesn’t show any signs of a sustained recovery as market focus has shifted from geopolitics to the upcoming FOMC meeting.

The Fed rhetoric could affect the overall sentiment in the global financial markets and the dollar dynamics as well. Should the regulator hint at four tare hikes this year, the greenback will rise across the board amid growing market expectations. For the precious metal, this scenario would be bearish and could intensify the downside pressure.

Gold still looks unattractive for bulls, despite the price has been trading close to 2018 lows. This reflects the market mood as the dollar remains within the uptrend despite that its impetus has abated recently. And the potential “hawkish” Fed may fuel the USD demand today. In this case, gold will likely challenge the intermediate support around $1,290 and test the $1,297 level, depending on the degree of expected dollar bullishness.

Gold: Focus On Fed
 
Gold: Focus On Fed

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Tubsy SkinntFinger
TubsSkinnyFinger Jun 14, 2018 6:17AM ET
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Impossible to get objective advice on gold. Bullion dealers are pro, everyone else against....Trust the fundamentals - rising inflation, rising interest rates, rising debt...Buy your silver/gold/gold stocks, park them and revisit in 2 years...*Not financial advice lol*
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roy boy
trade3x3 Jun 13, 2018 11:06PM ET
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make a buy in gold at 1302$ target 1310$
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thabiso masha
thabiso masha Jun 13, 2018 10:36PM ET
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Where is it going
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the truman
the truman Jun 13, 2018 5:14PM ET
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you got it all wrong... lol gold bear
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Crisp Py
Crispybear Jun 13, 2018 1:14PM ET
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Oh boy missed that call....
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