🧈 Gold Potential For Growth

🧈 Gold Potential For Growth

🧈 Gold started this week with declines under the support zone determined by the 0.5 fibonacci level of the upward wave from the bottom.

🧈 The price of gold fell after last week's Fed meeting in which Powell maintained his hawkish stance on monetary policy.

🧈 This is a temporary reaction as it did not change long-term market sentiment about the trajectory of interest rates in the United States.

🧈 For now, he maintains his upward bias on gold due to the halt in interest rate hikes and the persistence of inflation at higher levels and the upward trend in crude oil that could cause further increases in inflation.

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