Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards. Analysts from JPMorgan expect the yellow metal to make a 5% spike on a “blue wave”. This term refers to the United States Democratic party's success. Actually, national polls showed that Joe Biden leads the election race. However, the last word is for the Electoral College and it may be different from what the majority of Americans think. If he really wins, it may hit markets, - JPMorgan claimed. He is planning to impose higher taxes, which will lead to negative investors’ reactions. And, that situation should increase the demand for gold!
At the same time, this jump in gold prices will be short as Democrats also pledged to impose the larger fiscal stimulus, which will boost economic growth and as a result will improve the sentiment and underpin riskier assets. Besides, if Trump wins, the USD will surge and gold will drop. So, in any case, the long term is bearish for gold, according to JPMorgan.
To sum up, if Biden wins – gold will rise in the short term, but then fall in the long term. Otherwise, if Trump wins – gold will fall.
XAU/USD bounced off the key resistance of $1 912 and broke through the support of $1 900 at the 23.6% Fibonacci retracement level. Now it may drop to the low of October 13 at $1 890 and then to the next support of $1 875. Otherwise, the move above $1 912 will drive the yellow metal to the high of October 21 at $1 925, but be cautious as there are upper trendline and the 50-day moving average that constrain gold’s rally up.
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…
Hello from the far 2022! FBS analysts have used some magic to travel to the future and brought you some hilarious predictions.
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
