Gold this Week: Bullish!
  • Vote Up0Vote Down venynxvenynx
    Posts: 4,639Member

    Gold prices consolidates after hitting a record high ($2,075) in
    August, but the macroeconomic environment may keep gold afloat.To get
    more news about WikiFX, you can visit wikifx official website.

      The rebound in gold prices from the monthly low ($1,863) struggles to
    retain the momentum as the Federal Open Market Committee (FOMC) in its
    meeting minutes revealed a looming change in the monetary policy
    outlook: the FOMC has voted unanimously to push back “the expiration of
    the temporary U.S. Dollar liquidity swap lines through March 31, 2021”
    after extending its lending programs till the end of the year.
    addition, the Feds chairman Jerome Powell is expected to reveal
    something new at the Jackson Hole Economic Symposium scheduled for
    August 27-28, with the information further supporting gold prices.

      The IG Client Sentiment report implies that the continuous crowding
    behavior may raise gold prices, heightening the appeal of gold as an
    alternative to fiat currencies. Technically speaking, it is expected to
    see bullish gold enduring as it has been trading to fresh yearly highs
    for every single month so far in 2020.


      All the above is provided by WikiFX, a platform world-renowned for
    foreign exchange information. For details, please download the WikiFX

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