This week prices for Gold continue to grow. The main factor for this growth, of course, was the terrorist attack in Manchester which forced investors to turn to less risky assets. In addition, the growth of prices continued amid the weak dollar based on the results of the FOMC Committee meeting, where plans of the US Central Bank to reduce the balance before the end of this year were designated. The Federal Reserve, which had planned a rate increase twice this year, began having doubts about the necessity for further growth in the rate due to weak economic indicators and a slowdown in the economy, although the probability of a rate hike in June remains high. Of course, this has also impacted the value of gold. Political instability in the United States and the possibility of the beginning of a full and protracted political crisis also contribute to the gold's growth.
So there are a lot of factors which indicate further increases in the prices. We can say for sure that the upward trend will continue and increase in intensity in the near future. It should be noted that the rates were carried out with high volatility in a wide range, but now the situation has changed and the upward trend is more stable, which is clearly seen on the chart. Thus, we can say that at the moment the deals to BUY are more effective. The MACD oscillator confirms this.
