Hello, do you have any questions about the price trend of gold in the last trading day of this week?
Overall, gold has made efforts to seek recovery and has received some support as the price reached $2050 today.
The price of gold has increased again as the US dollar adjusted downwards after US economic data increased expectations that the Fed will cut interest rates in March 2024. Additionally, gold prices have risen due to ongoing political instability. While tensions in Ukraine may prolong, the situation in the Middle East remains heated.
Regarding the next trend of gold:
One notable piece of information today is that the market will receive the Core Personal Consumption Expenditures (PCE) report, which is the Fed's preferred measure of inflation. This report will provide investors with more clues about the Fed's future direction.
On the chart: Gold has surpassed the resistance level of $2042. If this news is favorable, gold is likely to quickly move towards $2070 as expected.
What do you think? Do you believe gold will increase or decrease in price?
Overall, gold has made efforts to seek recovery and has received some support as the price reached $2050 today.
The price of gold has increased again as the US dollar adjusted downwards after US economic data increased expectations that the Fed will cut interest rates in March 2024. Additionally, gold prices have risen due to ongoing political instability. While tensions in Ukraine may prolong, the situation in the Middle East remains heated.
Regarding the next trend of gold:
One notable piece of information today is that the market will receive the Core Personal Consumption Expenditures (PCE) report, which is the Fed's preferred measure of inflation. This report will provide investors with more clues about the Fed's future direction.
On the chart: Gold has surpassed the resistance level of $2042. If this news is favorable, gold is likely to quickly move towards $2070 as expected.
What do you think? Do you believe gold will increase or decrease in price?
Comment:
🎯The US core PCE index remained at 0.1%, lower than forecast. After the data was released, the Dollar DXY index had a slight increase
Comment:
