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The Federal Reserve's "hawkish" stance limits the increase! Gold price at 2616, holiday trading is sluggish. FXEmpire's latest technical analysis on Gold, Dollar, and Euro.
The Federal Reserve's tough interest rate stance limits the rise in Gold, and with the West entering the holiday week, the Gold price is fluctuating around 2616 USD, while the USD maintains a strong market.
Gold: Strong Dollar Could Keep the Bears on Top
Be careful, Gold may suddenly "change its face"! Technical analysis is issuing warning signals. FXStreet Senior Analyst's analysis of Gold price trends.
On Tuesday morning in the European market, spot Gold maintained an intraday rebound trend, with the current gold price around 2621 dollars per ounce. FXStreet Senior Analyst Dhwani Mehta stated that due to the bearish Relative Strength Index (RSI) on the daily chart and Gold being positioned between two key moving averages, the gold price is still in a "Sell on the rebound" trade.
Gold Prices Edge Up, Remains Pressured by Strong Dollar After Hawkish Fed
Gold prices have suddenly encountered a fierce sell-off! What will happen next? FXStreet Chief Analyst's analysis of the technical outlook for Gold.
During the Monday European and American trading session, spot Gold suddenly faced a fierce sell-off, with prices sharply falling from nearly $2634 per ounce, briefly dropping below $2610 per ounce. FXStreet's chief Analyst Valeria Bednarik stated that due to the recovery in demand for the dollar, Gold prices are expected to continue their downward trend and fall below $2600 per ounce.
Gold Holds Decline as Traders Focus on Uncertain 2025 Rate Path