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HL-TradingFX
Jun 9, 2023 10:07 AM

GOLD 9/6 : Recovery is equally divided for both sides 

GOLD (US$/OZ)TVC

Description

Gold and metals markets generally steadied on Friday and headed for a second week of gains, as the dollar eased amid expectations that the Federal Reserve will pause its rate hike cycle next week.

The dollar posted its biggest drop since late March following the data, while Treasury yields also fell, which benefited the greenback-denominated metals market.

Spot gold was unchanged at $1,965.04 an ounce, while gold futures were up 0.1% to $1,979.75 an ounce by 20:09 ET (00:09 GMT). Both instruments are up about 0.8% for the week.

Comment

Weakness in the labor market, coupled with a slight drop in inflation, could prompt the Fed to pause its rate hike cycle when it meets next week. However, personal consumption and non-farm payrolls indexes recently beat expectations, adding to the uncertainty of how the central bank will act.

Markets are pricing in a 76 percent chance the Fed will pause rate hikes in June, with a 24 percent chance of a 25 basis point increase.
Comments
NgocDuongTrading
If you don't come tonight at 10 o'clock, you will have to cancel
HL-TradingFX
@NgocDuongTrading, This is the analysis of today's trend, if it doesn't come tonight, cancel without limit or let the order go through the week
H-LTrading
8x is waiting for us
HL-TradingFX
@H-LTrading, you're right
tanlocquoc
good entry sell
HL-TradingFX
@tanlocquoc, Stick to your strategy
HCT_Bik
Good ideal. Thank you erry much
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