Gold prices began to change after the US Federal Reserve announced on Friday morning that gold in Asian hour trading between 1825 and $ 1,831 an ounce. After days of anticipation the Fed’s statements and decisions, it is clear that the US Federal Reserve has maintained its policy. The FOMC said in a statement that the US economy was “recovering smoothly and progressing towards the Fed’s goal.” Powell said the timing of the US tapering was still dependent on future economic data, and said that the number of employment in the United States was still low. In fact, we saw that on Thursday, the number of initial job claim was 400k more than expected 380k, but it is less than last week 424k. In addition, on Thursday, US gross domestic product (GDP) data grew 5.6 percent in the second quarter of 2021, despite slowing growth. So the Fed still needs more time to reconsider its policy.

At the same time, the Covid-19 Transformation Delta is becoming more prevalent and alarming in the United States. One other hand, the US government is considering restricting about 1.2 million federal employees to be vaccinated. Until today about 49% Americans have been vaccinated. The percentage of people who have already been vaccinated, however, the proportions vary from region to region, and this remains a major issue for the United States.

Here are the comments to buy / sell XAU / USD gold daily

By looking at the gold price chart after the FOMC statement, we saw that the price of gold has changed from $ 1,793 per ounce to $ 1,833 an ounce.

So my recommendation in gold trading

If the price of gold does not break the 1833 price, investors can sell at 1833 and set the risk management at 1840 and set the take profit at 1800.

Analyzed by: Mr. Prach Sopheak, Independent Analyst