Strong signs from the Federal Reserve of a near interest rate cut for the first time in a decade have strongly weakened the US dollar, and were an opportunity for the yellow metal to go upwards towards the $1427 resistance, and therefore, it went back to the range of highest levels in 6 years. The recent bearish correction sessions for gold had pushed the prices towards the $1386 support level during Tuesday’s session. With this announcement, we recommended buying gold. The comments of the Fed’s Chair Jerome Powell at his testimony before the congress reflected what was in the Fed’s last minutes of meeting that many ... (full story)