Will Gold price continue to be under pressure on rising interest rates? Here is our next video about Gold price analysis February 2022. Gold price analysis today shows the metal is dropping on hawkish Fed, trading 0.67% lower around $1807.
In Wednesday’s meeting – the first for the year, Fed decided to keep monetary policy unchanged as expected but Fed Chairman Powell indicated the possibility of a rate hike in March. Gold price February might be slightly under pressure as Fed’s rate hike indicates increasing the value of the dollar which normally increases the opportunity cost of holding Gold.
Gold February 2022 could also keep experiencing the volatility from the uncertainty over Ukraine which might cap any losses. According to the Gold chart, the metal is trading inside a bullish triangle on the weekly chart, so any consistent break below $1770 might indicate the formation is running out of steam and more downside could be expected for the Gold price forecast.
Watch the full video for our take on the Gold price analysis February and a deeper insight into what to expect in the months ahead from our Gold price prediction. Drop us a line in the comments with your thoughts on the Gold analysis.
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00:00 Intro
01:15 Gold uptrend still rolling?
03:33 Gold support and resistance
04:01 Gold technical analysis
07:43 Recap
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