GOLD jumped to nearly 2,100 USD/oz

World gold price stood at 2,082 USD/ounce, up sharply to 38 USD/ounce compared to the same hour yesterday morning. This is the highest price of this precious metal in more than 2 months. The increase in gold prices comes from the market receiving information about gloomy US economic data. This contributes to strengthening investors' expectations about the US Federal Reserve (Fed) loosening monetary policy.

Gold is on an upward trend because the market believes that the Fed will loosen monetary policy in the middle of this year, thereby reducing the opportunity cost of holding gold bars. In 3-4 months, prices will hit a record if we continue to see weak economic data and the market believes the Fed is ready to cut interest rates. Strong central bank buying is also supporting the market.

Major economies in the world simultaneously announced less positive economic data. This also supports gold prices to increase in the coming sessions. However, experts warn that this week's gold speculative position is expected to only move sideways compared to before, so it is possible that gold will be sold off as early as next week as investors take profits. Therefore, investors should carefully observe the market to determine appropriate buying and selling points.

Comment:

Comment:

Traders should watch the upcoming February U.S. jobs data for insights into the market's direction. Strong job numbers would decrease chances of rate cuts and could lower gold prices. However, if job figures disappoint, interest rate expectations may become more dovish, benefiting precious metals.

Comment:

SELL XAUUSD PRICE 2101 - 2099⚡️
↠↠ Stoploss 2105

→Take Profit 1 2094
↨
→Take Profit 2 2089

BUY XAUUSD PRICE 2057 - 2059⚡️
↠↠ Stoploss 2053

→Take Profit 1 2064
↨
→Take Profit 2 2069

Trade active:

Plan SELL + 30pips, close a part move SL to entry.🔥

Comment:

🟥AN UPCOMING SPEECH BY THE FEDERAL RESERVE CHAIRMAN THIS WEEK.. STAY TUNED FOR IMPORTANT SIGNALS REGARDING INTEREST RATES!

Comment:

🚫The US now has an 85% chance of recession in 2024, the highest probability since the Great Financial Crisis, economist David Rosenberg has said.