The most popular question right now: When will XAUUSD decrease?

• International gold price
  

XAUUSD price on Kitco closed the week at 2,329 USD/ounce. Gold futures price for delivery in June 2024 on the Comex New York floor is trading at 2,349 USD/ounce.

The world XAUUSD market ended the week with strong price increases. The precious metal is up nearly 5% compared to last Friday. After rising to 2,220 USD/ounce before the holiday, world gold prices continued to set a new record of 2,329 USD/ounce during the weekend trading session.

XAUUSD price sets new record, Director of Commodity Strategy at Saxo Bank, said that gold attracts safe-haven cash flow as geopolitical tensions in the Middle East heat up because of Israel's war with Hamas in Gaza.

The possibility of the US central bank delaying interest rate cuts, increasing global conflicts,... are factors that positively impact gold prices.

The Chairman of the US Federal Reserve (Fed) reaffirmed the agency's view that it is not in a hurry to raise interest rates.

According to CME FedWatch, the market sees only a 54% chance that the Fed will cut interest rates in June. Last week, the market was pricing in a more than 60% chance of easing interest rates. Analysts note that precious metals are less dependent on US interest rates and monetary policy.

The US Dollar Index (DXY) measures the greenback's fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), closing the week at 104.29 points.

• XAUUSD price forecast
  

Commenting on the gold market, experts say that gold prices are likely to continue to increase, far exceeding many forecasts at the end of last year. The gold market continuously conquers new milestones.

Phillip Streible, Strategist at Blue Line Futures, said money flows into the market, supporting gold prices. Increasing tensions in the Middle East also boost demand for safe assets such as gold.

In addition, strong buying demand from central banks around the world and speculative activities are also factors making the gold market continue to be hot.

According to Bank of America, gold price is aiming for a target of 2,400 USD/ounce

Trade active:

XAUUSD went as expected. Returned to the 2351 resistance area and collapsed to 2336. Profits for me and my followers