Choose country & language:

XAU/USD falls below $1,800 ahead of FOMC on Wednesday

27/07/20211 min. read

The latest reports by economic analysts indicate that XAU/USD falls below $1,800 ahead of FOMC. In particular, we are reading that: 

 

 

XAU/USD falls below $1,800 ahead of the FOMC meeting on Wednesday. Technical analysts suggest:

 

  • Gold prices stay pressured for the 3rd straight day, off the intraday low.

 

  • The weaker USD helped limit deeper losses, at least for now.

 

  •  Various factors caused some intraday selling around gold on Monday (July 26). 

 

  • Traders are reluctant to open new big positions ahead of the key Federal Open Market Committee (FOMC) meeting on Wednesday.

 

  • US Durable Goods Orders and Housing Price Index for June will be significant numbers to watch

 

  • Covid-19 updates over US stimulus, as well as the US-China news, might push the gold to move, according to analysts.

 

(Source: fxstreet.com)

Why TopFX

10-years

10-years

industry presence
as a Liquidity Provider

Spreads

Spreads
from 0.0 pips

and reliable execution

Segregated

Segregated

client funds

First-class

First-class

customer support

Open your Live Account in 3 Steps

Step 1

Fill in the registration
form and click
"Create account".

Step 2

Once you are in the client secure area, please proceed with uploading your Proof of Identity and Proof of Residence.

Step 3

When your live account is approved, you can deposit funds and start trading on your chosen platform!