James Stanley: Gold returns to 4021 support as market weighs rate hike

James Stanley: Gold returns to 4021 support as market weighs rate hike
Gold tests 4021 as markets eye rate move

James Stanley, senior strategist at DailyFX, observes that gold has dropped back to the 4021 level of support, the same threshold that triggered a rebound last Friday.

He points to a 33% chance of a rate hike at tomorrow's decision, suggesting that even a hawkish hold by policymakers could be interpreted as positive for gold prices. Stanley also notes that stocks continued to weaken even after a recent tweet from U.S. President Donald Trump, raising questions about Warsh's potential approach.

Stanley has previously focused on policy expectations and technical support in major markets. In recent coverage, he examined the threat of intervention as a factor supporting the Japanese yen. He has also highlighted the Nasdaq's retest of support ahead of earnings from TSLA and GOOG. These observations reflect a continued emphasis on key threshold levels and market responses to policy risks.

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