Gold rose to 3-week highs, sometimes reaching close to the level of 1,940 USD/ounce. Index
DXY (measures the volatility of the greenback against a basket of six major currencies) fell from 103 points last week to 101.49 points.
The USD index fell near a two-month low. A weaker dollar is supporting the precious metal's gains, as the Fed seems to signal that it is at the end of a monetary tightening policy cycle. A weaker dollar also makes gold more attractive to buyers holding other currencies.
In the medium and long term, gold is supported by the fact that the Fed is supported by the end of its monetary policy easing cycle.
Besides, precious metals were also supported by the demand for gold of many central banks.
DXY (measures the volatility of the greenback against a basket of six major currencies) fell from 103 points last week to 101.49 points.
The USD index fell near a two-month low. A weaker dollar is supporting the precious metal's gains, as the Fed seems to signal that it is at the end of a monetary tightening policy cycle. A weaker dollar also makes gold more attractive to buyers holding other currencies.
In the medium and long term, gold is supported by the fact that the Fed is supported by the end of its monetary policy easing cycle.
Besides, precious metals were also supported by the demand for gold of many central banks.
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NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/Novascalperchannel
