Global gold prices remain stable, trading at $2028 per ounce and marking a 0.12% recovery for the day, despite the trend and movement showing little change with the EMA 34 and 89 converging with resistance.
Gold faces pressure from the minutes of the Federal Reserve's (Fed) first policy meeting, yet the precious metal continues to consolidate above $2000 per ounce. In the newly released minutes, the Fed indicated that their monetary policy has peaked, but they are not in a hurry to cut interest rates. This continues to exert downward pressure and limits the recovery potential for XAUUSD at the moment.
Gold faces pressure from the minutes of the Federal Reserve's (Fed) first policy meeting, yet the precious metal continues to consolidate above $2000 per ounce. In the newly released minutes, the Fed indicated that their monetary policy has peaked, but they are not in a hurry to cut interest rates. This continues to exert downward pressure and limits the recovery potential for XAUUSD at the moment.
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