Gold began the week with a downward trend but has seen some recovery. This movement is influenced by the weakening US Dollar, driven by disappointing PMI data that indicates a slowdown in private sector growth. Additionally, a lower-than-expected GDP growth rate and persistent inflationary pressures have contributed to gold's recent price movements.
Sentiment analysis shows mixed signals with some expecting continued consolidation within the $2,400-$2,450 range, while others foresee potential upward movement towards $2,500 as economic conditions evolve.
Sentiment analysis shows mixed signals with some expecting continued consolidation within the $2,400-$2,450 range, while others foresee potential upward movement towards $2,500 as economic conditions evolve.