Gold – Higher low on four-hour time frame and potential for further growth [Video]
![Gold – Higher low on four-hour time frame and potential for further growth [Video]](https://editorial.fxsstatic.com/images/i/gold-march-01.jpg)
Potential for the furhter rally.
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Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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AUD/USD edges higher in the Asian session on Wednesday, recovering slightly from a two-week low touched on a less hawkish RBA reaction the previous day. Hopes for Iran diplomacy undermine the safe-haven US Dollar and support the currency pair, though the upside remains capped as traders await US midterm election results.
USD/JPY slides below 158.50 in the Asian session on Wednesday, snapping a two-day winning streak to hit a near three-week high the previous day, as intervention risks support the Japanese Yen. Meanwhile, the US Dollar remains on the back foot amid hopes for Iran diplomacy, further weighing on the currency pair as traders brace for some volatility surrounding US midterm election results.
Gold struggles to capitalize on the previous day's bounce from sub-$3,900 levels, oscillating in a range during the Asian session on Wednesday as traders brace for short-term market volatility surrounding US midterm election results. Meanwhile, hopes for Iran diplomacy weigh on the safe-haven US Dollar and support bullion, though upside remains capped amid Fed rate hike bets.
Ethereum (ETH) faces pressure near $2,300 on Tuesday as it struggles to recover its realized price. The top altcoin fell below its realized price, or investors' average on-chain cost basis, at $2,309 following the $6.3 billion Binance hack last Thursday.
Political uncertainty may be coming to an end, but the real question for investors is whether the technology sector can sustain its enormous spending commitments. The US midterm elections are arriving at an interesting moment for financial markets.
The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.
