XAUUSD #Gold

Gold Analysis and Upcoming Events
Analysing the gold chart on the 4-hour timeframe, we observe that the price is still grappling with the support zone between $2318 and $2325. Today, a significant event is expected: a speech from US Fed Chair Jerome Powell, which could lead to notable market fluctuations.

Markets are eagerly awaiting signs of whether the US Federal Reserve will continue to raise interest rates.

Impact of Rate Hikes: If Powell hints at continuing rate hikes, the dollar could strengthen, leading to a drop in gold and stock prices.
Impact of Rate Halts: Conversely, if Powell indicates a pause in rate hikes, the dollar might weaken, which could support higher gold prices.

Powell's speech will be closely monitored for any changes in monetary policy or economic outlook. Given the current market expectations, his remarks could significantly impact the markets, potentially causing volatility. It is crucial to pay attention to the key points of his speech and be prepared for potential market movements.

Keep an eye on the support zone and the implications of Powell's comments to navigate the expected market volatility effectively.