Tesla: two reasons why it dropped
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
Gold prices rose ahead of Fed statement
Information is not investment advice
A temporary return of risk-off pushed XAU/USD upward after the recent pullback. It has broken through the key resistance level at $1700, that’s why it may continue climbing up further to the next retracement level at $1750. Last Friday gold prices fell dramatically after the surprisingly positive NFP report to the support level at $1680. That encouraging data was a clear signal that economy is recovering. As a result, investors turned to riskier assets that day on an optimistic tone.
Nevertheless, gold prices have gained for two days straight ahead of the Fed statement on June 10 at 21:00 MT time. Gold traders are waiting for guidelines from Jerome Powell, the Head of the Fed. If interest rates are low, gold will gain. It decreases the opportunity cost of holding non-yielding metal. Gold is also likely to be a hedge against inflation. The Fed’s prospect on a future recovery and downside risks will affect gold prices. Stay tuned!
Similar
NVIDIA: hottest stock of the week
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?
RBNZ rate statement: what lies ahead for the NZD?
The Reserve bank of New Zealand holds a meeting on Wednesday at 3:00 MT time.
Popular
Dollar gains on higher yields
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
GBP/USD: Sellers target 1.3800 even as UK unlock begins
Ichimoku Kinko Hyo EUR/JPY: The pair is trading below the cloud…
AUD/JPY: Risk keeps more cautious before NFP
Ichimoku Kinko Hyo AUD/JPY: The pair is trading below the cloud…
Choose your payment system
