As we have rallied rather significantly from that point, the market is likely to continue to see the $1800 level as important, as it is not only a large, round, psychologically significant figure, but it is also an area that has seen quite a bit of action in the past.is in this area as well, so that makes quite a bit of sense that we would see a little bit of dynamic resistance here as well.
While it is more likely than not that we will see a volatile session, the real question is going to be whether or not the Federal Reserve will have to remain extraordinarily tight with their monetary policy, and if we get a very strong, it’s possible that we could see the interest rates rise again in the United States, as it will almost certainly mean that the Federal Reserve will have to step on the gas when it comes to tightening.
This not only tells you what the reaction would be to the announcement but whether or not people are comfortable holding gold through the weekend.
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