Gold up for 4th straight day

September 22, 2016

The gold price is headed for its 4th straight day of gains today, brushing of unexpected moves from the Bank of Japan while awaiting the latest interest rate decision from the US federal Reserve later in the trading session.

At 4.30pm (GMT) the gold price was trading at $1,330 up from $1,315 in yesterday’s trading.

In a surprise move, the BOJ unexpectedly announced that they would continue their stimulus program to boost inflation which should have pressure the gold price but the yellow metal stayed resilient.

“I believe that the BoJ’s pledge to keep policy loose not only until they achieve their inflation target but until they overshoot their target on a sustainable level is the most radical thing I’ve heard from a central bank,” said Marshall Gittler, head of investment research with FX PRIMUS.

Gold is likely to receive a further boost today if ass expected the Fed decide to leave interest rates on hold which should spark a sell off of the US dollar and push traders into other investments such as gold.

Publication source
FIBO Group information  FIBO Group reviews

February 28, 2017
Gold opened the week inside of a consolidation zone
A close below the support at 1250 could see XAU/USD extend its declines down to 1240. Nevertheless, the upward structure remained in place. The lower limit of the upward channel lies around 1240. Buyers may find fresh bids around the level...
February 28, 2017
The US Congress meeting has investors on edge
Trumps speech at the Congress is a long-awaited event for investors, mulling over the room for further rally in the US market...
February 27, 2017
Black gold slightly declined amid the crude inventories report
The tone was negative in the oil market on Friday. The price reversed some losses in the night. Buyers returned the benchmark to 56.66 dollars per barrel where Brent caught fresh offers and moved lower...

FXCM Rating
Fort Financial Services Rating
FX Giants Rating
XM Rating
Orbex Rating
Larson&Holz IT Ltd Rating

Banc De Binary Rating
EZTrader Rating
Empire Option Rating
OptionTrade Rating
Dragon Options Rating
OptionBit Rating