Finally gives into $ 1200 barrier amid bullish economic projections, hawkish Powell. But stalled USD rebound helps cap the downside in the yellow metal. Gold prices on Comex witnessed good two-way business following the FOMC decision and amid Fed President Powell’s press conference, as markets continue to gauge the future policy path of the US central bank. The recovery in the yellow metal can be mainly attributed to the renewed selling seen in the US Treasury yields across the curve after Powell said that he doesn’t see inflation surprising to the upside while expressing some caution on the trade war front. Powell noted: “If there are widespread tariffs, a ‘more protectionist world’ will be bad for the US, global economy. The non-interesting bearing gold will continue to track the USD dynamics while a positive tone seen on the Wall Street could keep the recovery attempts restricted. Gold Technical Levels Higher Side Levels: 1210 (round number), 1215.80 (Sept 21 high), 1217 (Aug 28 high). Lower Side Levels: 1194.70 (daily low), 1190.40 (Sept 11 low), 1184.40 (mid-Aug low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY sideways, unable to consolidate above 113.00 as Powell speaks FX Street 4 years Finally gives into $ 1200 barrier amid bullish economic projections, hawkish Powell. But stalled USD rebound helps cap the downside in the yellow metal. Gold prices on Comex witnessed good two-way business following the FOMC decision and amid Fed President Powell's press conference, as markets continue to gauge the future policy path of the US central bank. The recovery in the yellow metal can be mainly attributed to the renewed selling seen in the US Treasury yields across the curve after Powell said that he doesn't see inflation surprising to the upside while expressing some caution on the trade war… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
