Gold - Neutral Post Fed

Mar 19, 2021

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Gold - Neutral Post Fed by KQMarkets on TradingView.com

Commentary

We hold a neutral Gold view despite it's recent bounce post Powell's comments in Wednesday's FED press conference that it is not expected that interest rates will be raised till the end of 2023.

This is because Gold is still in a downtrend with the 50 day MA at $1794.20 being below the 100 day MA at $1831.5 and 200 day MA at $1858.7.

Therefore we would want Gold to gain upward momentum and to consolidate above resistance at $1754 before taking a long view.

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