XAU Scalping - GDP news helps gold grow today

XAU / USD trend forecast January 30, 2025, SCALPING

The Federal Reserve kept interest rates unchanged on Wednesday and indicated that there is no urgency to cut borrowing costs until inflation and employment data justify such a move.

During the post-meeting press conference, Fed Chair Jerome Powell emphasized that political factors would not influence the central bank’s decisions on interest rates and tempered expectations for upcoming rate reductions.

Powell’s statements reinforced the belief that rates will stay elevated for an extended period, given concerns over US President Donald Trump’s protectionist measures, which could potentially drive inflation higher.

Expectations of an overall FED rate cut helped gold prices not sell off too much, maintain well above 2735 and accumulate upwards.

/// SELL XAU : zone 2770-2773

SL: 2776

TP: 50 - 80 - 150pips (2758 )


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