Technical Analysis of Spot Gold
European stocks continued to rise as China cut its growth target this year. Meanwhile, markets focus on Fed Chairman Powell’s two-day testimony ahead of this month’s employment report.
February (due Friday), which is likely to set the Fed’s path for the foreseeable future. While investors have expected the Fed to keep interest rates higher for a long time, there are recent fears that robust economic data will lead the central bank to return to a devaluation. Once again, it will have an impact on inflation in the future. Most markets expect Powell to be vague this week, but his testimony comes before the job report is released. Aims to keep all options open.
All investors can set the buy gold at $1,845 per ounce.
Set stop-loss at $1,830.
Set take profit at $1,870.
Analyst: Mr. An Rothchanborey, Independent Analyst