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Gold: US rate rise may push metal to $1000

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    So, the ‘FOMC day’ has come to pass and the rate hiking cycle has begun, as had been widely expected. It looks like the majority of the market participants have interpreted the Fed’s forward guidance as more hawkish than expected – hence the dollar has rallied, if only moderately so far. Remarkably, gold also managed to end Wednesday’s session higher. But was that the bull’s last hurrah? The precious metal had already given up its entire weekly gains by Thursday afternoon, when this report was

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