Gold is trading 0.34% higher after another slow week. The Fed did the precious metal no favours with no changes in policy. Gold daily chart Gold has had another tough week as the Fed disappointed the market with no real additional information about the new policies. There was one thing of now as the dot plot is now projecting the next rate rise could be in 2023. There were some outside calls for more stimulus to be added but Fed Chair Powell once again called for more help from the government in the form of fiscal stimulus. Looking at the chart, the key feature is the marks of lower highs and higher lows. This sideways action has been going on for a month now. The indicators are also firmly planted in the midsection. The MACD histogram and signal lines are near zero and the Relative Strength Index indicator is near 50. The trend is still very much an uptrend and if the key previous wave highs get broken then the uptrend could be back on. USD 1973.64 per troy ounce is the next level to watch on the upside and then beyond that, USD 2k is next. Overall, the market is looking to see if the recent dollar bear trend is reversing. The risk enviroment has been precarious, stocks have been moving lower toward the end of the week. Next week the PMI’s are due to be released and this could give us further clarity about the state of the global economy. Another highlight will be Fed Chair Jerome Powell and US Treasury Secretary Mnuchin testify before a Senate committee. They will probably talk about the need for fiscal stimulus but you never know. Additional levels 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 Neo Market Update: NEO charts yearly highs, as it readies for DeFi FX Street 2 years Gold is trading 0.34% higher after another slow week. The Fed did the precious metal no favours with no changes in policy. Gold daily chart Gold has had another tough week as the Fed disappointed the market with no real additional information about the new policies. There was one thing of now as the dot plot is now projecting the next rate rise could be in 2023. There were some outside calls for more stimulus to be added but Fed Chair Powell once again called for more help from the government in the form of fiscal stimulus. Looking at the… 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.