XAUUSD : Gold is back on the rise once again

The current gold price is trading around 2,323 USD/ounce. The golden boy immediately regained the mark of 2,300 USD/ounce after yesterday's sharp decline to 2,285 USD/ounce.

The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance.

Gold prices rose slightly after the Fed took a less hawkish stance than expected by keeping interest rates unchanged, and Japanese authorities were suspected of intervening to support the Yen, damaging the USD.

Trade attivo:

Buy 2319 - 2321

TP1 : 2330
TP2 : 2340
TP3 : 2350

SL 2310

Buy Limit 2313 - 2315

TP1 : 2320
TP2 : 2330
TP3 : 2340

SL 2305