Gold prices are already at their highest. The price of gold is currently in a neutral state neither going up nor down. In this situation, everyone looks at the price of gold. Gold price is at 2157.57 per troy ounce.
The price of gold is neither going up nor down as it depends on the decision of the Fed meeting. The US recently decided to cut interest rates. Hence the price of gold increased aggressively. Now the price of gold is depending on the indication of further rate cuts. So the price of gold will go up or down based on the next news. We are looking at a bull run and if that happens we can buy more gold. And if the news is the opposite then gold should be sold.
Probably all the traders are similarly depending on the news of the Fed meeting and hoping for new news.I think the price of gold will rise more so be prepared to buy. If you want to buy gold then watch for the news. The news will drive gold higher.
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