Thursday, March 16, 2017

Gold Higher After Fed Raises Rates

The Federal Reserve raised the interest rates yesterday with 0.25 basis points. The US dollar reacted strongly bearishly on the announcement and the EUR/USD spiked to a high 1.0747 from a low of 1.0605.

Gold turned out to be the biggest gainer, alongside with Silver. Gold went from $1,199 to $1,227 this morning. It appears that market participants are getting optimistic about the future of precious metals.

Silver also registered a gain going from $16.82 to $17.49. A continuation of the upward move can be expected as we do not expect any major news or events that can shake the market at least until the end of the week. One mid-impact event is the Michigan Conference scheduled for Friday this week.

Chart: XAU/USD H4


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8 comments:

  1. UnknownMarch 16, 2017 at 10:57 AM

    Seems like it will keep pushing higher.

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  2. UnknownMarch 16, 2017 at 3:43 PM

    Gold will likely continue moving to the upside, but Silver might begin retracing soon.

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  3. UnknownMarch 16, 2017 at 6:52 PM

    It found resistance at 1230.

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  4. UnknownMarch 17, 2017 at 4:51 AM

    Good posts, very helpful for all traders.

    ReplyDelete
  5. UnknownMarch 17, 2017 at 5:22 PM

    It's still very bullish.

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  6. UnknownMarch 19, 2017 at 11:57 AM

    That's good to know, thanks.

    ReplyDelete
  7. UnknownMarch 20, 2017 at 2:05 AM

    Gold is consolidating above 1230.00 level.

    ReplyDelete
  8. UnknownMarch 20, 2017 at 4:00 AM

    it seems to be heding higher.

    ReplyDelete

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