Wednesday, October 25, 2017

The US interest rates buzz is having an impact on the spot gold price, US 10 yr note (%) is rallying and trying to break above  2.45 % which represents the support broken back on March 2017. Even though EUR/USD is trying to rally as well XAU will continue subdued as a result of the US interest rate talk.

Disclosure: I´m not very hopeful about spot Gold breaking down today so I booked profit @1273 from my 1277 short and will stay away until tomorrow when I can assess the market reaction to the ECB rate decision and press conference.

No comments:

Post a Comment

Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.